- Main event, leadership changes, market impact, financial shifts, or expert insights.
- Milei endorsed Libra not using state resources.
- LIBRA price surged before collapsing post-endorsement.
The clearance of President Milei matters due to the potential market influence by public figures and ensures no official resources were used, averting state-associated risks.
Investigation and Endorsement Findings
The investigation into President Milei’s endorsement of the Libra token confirmed it was a personal action with no use of state resources. Announced in February 2025, the AO found no ethical breaches in his social media post. Javier Milei was cleared as he endorsed Libra as a private individual. No governmental actions or resources were tied to the promotion, and the endorsement significantly impacted LIBRA’s market value following his public post.
Market Impact and Regulatory Reactions
Following the endorsement, the LIBRA token’s value surged but quickly collapsed due to large sell-offs by its founders. No significant ripple effect on established cryptocurrencies like ETH or BTC was observed, isolating the incident’s market impact. Federal investigations continue into securities fraud allegations. Crypto stakeholders are watching market dynamics cautiously for potential investor reactions. Immediate policy changes or new compliance mandates by Argentine regulators were not issued.
President Milei commented on the investigation outcomes, saying:
“President Milei’s promotion of the LIBRA token was conducted in a private capacity, not constituting the use of state resources or government platforms. As such, no breach of public ethics was found.” (Source)
The Growing Impact of Crypto Enthusiasm
As crypto enthusiasm grows, events like this underline valuation risks tied to public figure endorsements. Historical patterns show potential for similar incidents, highlighting the importance of regulatory vigilance and the critical role of non-governmental endorsements in volatile markets.
