Argentina's President Acquitted in LIBRA Memcoin Crash

Argentina's Anti-Corruption Authority (OA) has completed an internal investigation into the ethical conduct of President Javier Miley, who previously posted an advertisement for the Libra token on the X social network.

As a result of the analysis, the department's specialists came to the conclusion that this publication was a personal initiative of the head of state, and not an official statement or part of state policy. The Libra token that the president presented to his subscribers later crashed, causing discontent among investors. The OA report emphasizes that Miley's advertising post cannot be considered an administrative action or the use of budgetary resources - it was purely private in nature.

“This post, which is not related to the performance of state functions, did not involve the allocation of funding from the budget and did not receive approval from official structures, so it should be considered as a personal opinion expressed outside the framework of the performance of duties of the head of state,” the document says.

Accordingly, no violations of anti-corruption laws or abuse of office were found, and the administration has no claims against the president. However, this does not change the fact that a class action lawsuit filed against Miley by a group of affected investors in Argentina, the United States and the United Kingdom is still open. The initiators of the lawsuit accuse him of popularizing a project that, in their opinion, was fraudulent. In turn, the president's representatives insist that Javier Miley has nothing to do with the Libra development team and is not responsible for the actions of third parties. They also emphasize that the president did not receive remuneration for the publication and did not participate in the creation of the token itself.

Earlier it was reported that Argentine President Javier Miley signed a decree dissolving the temporary investigation group UTI (Unidad Técnica de Investigación), created three months ago to investigate the circumstances of the launch of the LIBRA cryptocurrency, as well as the possible participation of the head of state himself and his sister Karina Miley in the manipulations.