Argentina President Cleared in Crypto Endorsement Ethics Probe

Argentina’s President Javier Milei has been cleared of ethics violations by the Anti-Corruption Office after promoting the Solana-based LIBRA cryptocurrency in February 2025 via X (formerly Twitter).

The ruling underscores the separation between personal endorsements and governmental actions, but a parallel criminal investigation into possible market manipulation continues, with significant investor interest in the case’s outcome.

President’s LIBRA Promotion Labeled Personal Communication

The Anti-Corruption Office ruled that President Milei’s promotion of LIBRA was a personal communication. His February 2025 social media post sparked significant market activity, attracting scrutiny from authorities and the Argentinian Chamber of Deputies.

President Milei proactively requested the ethics probe to determine potential improper conduct. Authorities found no links to public resources or state support in his endorsement, leading to his clearance of the allegations.

“Milei requested the anti-corruption probe himself to determine whether there was improper conduct on the part of any member of the National Government, including the President himself.” – source

LIBRA Value Fluctuations Highlight Endorsement Volatility

The immediate market reaction was a dramatic surge and crash of LIBRA’s value, spotlighting the volatility of crypto endorsements. Despite the clearance, the event has raised concerns over influencer-driven crypto volatility.

Potential outcomes include a closer regulatory scrutiny on cryptocurrency endorsements, reflecting historical trends like the Kim Kardashian EthereumMax incident.

The criminal investigation focuses on securities law, possibly influencing future legal frameworks.

Precedent Set in Political Crypto Investigations

This is a precedent where a sitting president was investigated for crypto endorsement, drawing parallels to high-profile celebrity token scandals. The controversies often involve asset surges followed by crashes, prompting legal action.

Experts from Kanalcoin suggest such events might lead to stricter regulations. The precedent set by President Milei’s case echoes past enforcement actions, indicating an increased interest in regulatory frameworks overseeing digital asset endorsements.

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