Milei Cleared by Ethics Watchdog Over Libra Token Post

Argentine President Javier Milei has avoided official penalties after the country’s Anti-Corruption Office determined that he did not cross any legal lines when he mentioned the Libra memecoin earlier this year. The agency released its findings on June 5, clarifying that Milei was speaking in a personal capacity on social media, not as a government official.

Good to know

• The Anti-Corruption Office says Milei acted as a private citizen, not a public official.
• LIBRA’s value dropped about 94% after briefly hitting a $4 billion market cap.
• A federal criminal investigation into the incident is still ongoing.

Back in February, Milei shared a post on X about the LIBRA token. The post drew heavy criticism after LIBRA spiked in value, reaching a $4 billion market cap, only to collapse by 94% within hours. Many accused the president of triggering a pump-and-dump, and opposition leaders demanded impeachment proceedings. According to on-chain data, investors lost an estimated $251 million.

Despite the backlash, Milei claimed he was not promoting the token but simply “spreading the word.” His critics argued otherwise, raising concerns about his influence and timing of the post.

Ethics Body Clears the President

Argentina’s Anti-Corruption Office reviewed the case and concluded that Milei had not used any public funds or resources and had expressed his views through a personal account. The resolution described his post as part of his long-standing use of X for personal and political commentary—dating back to 2015.

“Although the account sometimes references public policies or decisions from his administration, it does so in a non-institutional manner, functioning as a platform for political and personal expression,” said the agency. It also noted that citizens are allowed to share opinions under Argentina’s constitution, and Milei was doing just that.

The decision means no violation of federal ethics rules for public officials took place, at least from the Anti-Corruption Office’s standpoint.

Legal Questions Remain

Even with this ruling, Milei is not fully in the clear. A federal criminal court is still looking into the broader incident and will determine whether any legal boundaries were crossed. So while he has avoided penalties under ethics law for now, further outcomes may still be on the horizon.