Catenaa, Monday, June 09, 2025- Argentina’s Anti-Corruption Office has cleared President Javier Milei of wrongdoing in the “Cryptogate” scandal surrounding his promotion of the Libra cryptocurrency.
The agency concluded Milei did not violate public ethics laws when he endorsed the token from his personal social media account earlier this year.
The post, which sparked widespread investor interest, was deleted after the token lost 90% of its value, prompting backlash and legal action.
Officials said the promotion was made in a private capacity and did not constitute an official government act or the use of public resources. “It should be interpreted as an act of individual or private communication,” the OA’s report stated.
Milei himself requested the ethics investigation in February, following calls for impeachment by opposition lawmakers and lawsuits from investors. Despite the administrative clearance, a separate federal criminal probe remains open.
The token’s collapse triggered lawsuits in Argentina, the United States and the United Kingdom. A class action is ongoing, and two crypto wallets linked to Libra’s US-based promoter Hayden Davis were recently frozen by order of a New York federal court.
Milei’s sister was also named in court documents as having interacted with Davis and Libra’s developers. An earlier investigative unit that reviewed those connections was dissolved by Milei in May after its findings were handed to prosecutors.
Milei’s government maintains no official ties existed with Davis or the Libra project, which was marketed as a tool to support small businesses.
