Argentine President Javier Milei has been cleared of wrongdoing by the country's anti-corruption unit regarding his involvement with the LIBRA meme coin. In February, Milei promoted the Solana-based token, which later crashed in value. Following its debut, LIBRA peaked at $4.50 before plummeting by 90%. Critics accused the coin's developers of executing a pump-and-dump scheme. The anti-corruption office ruled that Milei acted personally when endorsing LIBRA, concluding there was no malfeasance. However, a criminal investigation concerning similar accusations about his financial gain from the coin’s launch is still ongoing. Amid political pressure, he had previously dismantled the Investigative Task Force assigned to probe him. Milei, who previously gained attention for advocating crypto projects, faces challenges as his administration tackles economic issues in Argentina, which has been afflicted by inflation. LIBRA now trades at approximately $0.03 after a brief trading frenzy that generated about $1.1 billion in volume shortly after launch.

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