Argentine President Milei promotes Libra coin without any violations; a criminal investigation is still ongoing behind the deleted post controversy.

BlockchainArch · 2025-06-08T03:23:48+00:00

The Argentine Anti-Corruption Office ruled that President Milei did not violate public morals while promoting the Libra Crypto Assets, believing that his promotional posts did not constitute government behavior. Milei had previously promoted the coin but deleted the posts after a big dump of 90% in market capitalization. The related criminal investigation is still ongoing, and the funds of the Libra founder have also been frozen.

BlockchainArch

2025-06-08 03:23:48

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Golden Finance reported that Argentina’s Anti-Corruption Office (OA) has ruled that President Javier Milei did not violate public morality regulations when promoting the Libra ($LIBRA) Crypto Assets. The investigation concluded that promotional posts published from Milei’s personal account do not constitute official government actions or endorsements.

In February of this year, Milei promoted the Libra Crypto Assets on his personal X account, claiming it could support small businesses and startups in Argentina. However, after the token plummeted 90% from its market value high of $2 billion, Milei deleted the post. This incident was referred to as “CryptoGate” by local media.

Although the administrative investigation has concluded, the related federal criminal court investigation is still ongoing, and collective lawsuits from Argentina, the United States, and the United Kingdom are also being heard. In addition, Circle has recently frozen $57.6 million in USDC funds from two wallets belonging to Libra founder Hayden Davis.

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