HKAN | June 8, 2025. Argentina’s Anti‑Corruption Office (OA) has officially cleared President Javier Milei of any wrongdoing related to his endorsement of the meme token $LIBRA, confirming that his actions were personal—not an abuse of public office.

Key Findings

The OA determined Milei’s February post promoting $LIBRA on his personal X account didn’t involve government resources or official capacity, and thus did not breach public ethics.
The investigation concluded that the tweet was an individual communication, separate from state endorsement.
This ruling officially ends the internal administrative inquiry, although ongoing civil and criminal cases continue at the federal level.

What Sparked “Cryptogate”?

In February, shortly after meeting the $LIBRA founders, Milei tweeted in support of the token, describing it as a potential engine for Argentina’s small businesses.
The post triggered a massive surge in token value, only for it to crash dramatically—leading to estimated losses of over $250 million among thousands of investors.
Amid investor backlash and pressure, Milei deleted the post, and authorities launched both administrative and judicial probes.

Ruling & Remaining Legal Landscape

The OA’s clearance, based on evidence the tweet was a personal act, dissolves the executive-level inquiry.
However, the legal saga is far from over: federal courts and international litigations are ongoing. A judge recently ordered Milei and his sister’s bank records unsealed for further review.
Furthermore, $LIBRA-related criminal investigations and class-action lawsuits are active in Argentina, the U.S., and the U.K.

Market & Political Fallout

Following the OA’s announcement, the $LIBRA token saw a temporary 80% value surge, as investors interpreted the news as a positive sign—even while underlying legal issues remain unresolved.
Political opposition remains fierce, calling the probe’s dissolution a move to shield Milei from accountability.
Judiciary and federal prosecutors are pressing ahead, with further hearings anticipated in the coming weeks.

Why This Matters

Separation of Personal vs. Public The ruling highlights the importance of distinguishing private opinion from official government action, especially for high-ranking figures in volatile markets.
Crypto Governance Under Pressure — The case underscores growing challenges as politicians express personal crypto views amidst rising regulatory scrutiny and investor protection concerns.
Legal Uncertainty Continues — Although Milei is cleared administratively, the remaining judicial processes could still impact his political stability and Argentina’s crypto reputation globally.

What to Watch Next

Whether Argentine federal courts lift Milei’s bank secrecy and reveal deeper financial ties.
Status updates on cross-border lawsuits, including those under U.S. and U.K. jurisdictions.
New regulatory moves or parliamentary actions prompted by this high-profile crypto controversy.

Milei gets a reprieve—he’s cleared of official wrongdoing in the $LIBRA scandal, but the broader crypto court drama is far from over. The fallout now moves from the political stage to the judiciary, and signals to global leaders: personal crypto endorsements can carry serious consequences.