5 days ago
Argentine President Javier Milei was cleared of wrongdoing implicit his promotion of the LIBRA memecoin successful February, the Buenos Aires Herald reported connected Saturday.
A solution issued Friday by the country's anti-corruption bureau argued that the president was speaking "as an economist and not a nationalist official," erstwhile helium shared quality of LIBRA connected X.
The president's idiosyncratic relationship "was created agelong earlier helium was elected state president, and adjacent earlier the opening of his erstwhile word arsenic deputy," according to the resolution, signed by Alejandro Melik, the caput of the country's anti-corruption office.
Milei's station astir the Solana-based memecoin promoted it arsenic a task designed to assistance tiny and medium-sized Argentine companies rise capital. LIBRA surged to a marketplace capitalization of astir $4.5 billion.
He deleted the station lone hours later, saying that helium had not been alert of the details of the task erstwhile helium promoted it. In the ensuing sell-off, LIBRA crashed by 90%, wiping retired implicit $4 cardinal successful value.
On-chain information from Nansen showed that 86% of traders lost a full of $251 million, with the remainder securing $180 cardinal successful profits.
To marque matters worse, it was revealed Libra's co-creator Hayden Davis bragged successful substance messages astir his power implicit Milei due to the fact that of payments helium had been making to Karina Milei, the president's sister and a almighty fig successful his government.
Read more: Milei Closes Down LIBRA Investigative Unit After It Shares Findings With Prosecutors
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