Argentine President Javier Milei was cleared for wrongdoing over his promotion of weight Memecoin in February, Buenos Aires Herald reported on Saturday.
A decision issued Friday by the country’s anti-corruption office claimed that the president spoke “as an economist and not a public official” when he shared news of the weight of X.
The president’s personal account “was established long before he was elected the country’s president, and even before the beginning of his earlier period as a deputy,” according to the decision, signed by Alejandro Melik, the head of the country’s anti-corruption office.
Milei’s post about the Solana-based Memecoin promoted it as a project designed to help small and medium-sized Argentine companies raise capital. The weight increased to a market value of about $ 4.5 billion.
He deleted the post only hours later and said he had not been aware of the details of the project when he promoted it. In the subsequent sale, weight crashed by 90%and wiped out over $ 4 billion in value.
On-Kain data from Nansen showed that 86% of traders lost a total of $ 251 million, with the rest securing $ 180 million in profits.
To make it worse, it was revealed Libras co -creator Hayden Davis boasted in text messages about his influence over Milei due to payments he had made to Karina Milei, the president’s sister and a powerful figure in his government.
Read more: Milei closes the Libra Investigative Unit after sharing the conclusions with prosecutors
