Argentina Clears President Milei in LIBRA Crypto Scandal

President Javier Milei has been cleared of ethical misconduct in Argentina’s “Cryptogate” saga, which erupted after he promoted the $LIBRA token from his personal X account. The Anti-Corruption Office concluded he was acting “as an economist and not as a public official,” and had not used institutional resources.

The now-infamous token, launched by US entrepreneur Hayden Davis and shilled by Milei in February, soared to over $5 before crashing 90% in hours, erasing a market cap of $2 billion. Investors from Argentina, the USA, and the UK have since filed class-action suits, while a separate criminal probe remains active.

The official ruling stated, “No state procedure, act, or contract referred to $LIBRA had been detected,” and described Milei’s post as “a non-institutional manner” of personal expression. Nonetheless, legal pressure escalates abroad; two of Davis’ wallets, worth $57.6 million, were frozen last week under order from a New York federal court.

Milei’s ties to Davis included multiple in-person meetings coordinated by Argentine businessmen linked to the crypto launch. His sister’s communications and a now-dissolved investigative unit remain focal points in broader legal investigations still going on.

Musk’s X Partners With Polymarket For Predictions

Elon Musk’s X platform is officially partnering with the leading decentralized prediction platform Polymarket to provide real-time forecasts on global events. Polymarket users bet on outcomes using crypto, while the platform pulls in commentary from Grok and posts from X to improve context. The announcement positions X and Polymarket as aligned in offering live data-based “truth-seeking” tools to a wide audience.

CEO Shayne Coplan said the collaboration will improve access to accurate predictions, especially during high-stakes political moments. Despite recent drops in user activity, Polymarket still saw a record 7,000 new markets launched in April. The deal follows Musk’s recent feud with Donald Trump over national debt policy, creating fresh divisions in the crypto-political sector.

Trump Meme Wallet Canceled After Legal Threat

Eric Trump announced Friday that the Trump meme coin project will no longer launch its planned crypto wallet following legal action. A cease-and-desist from Trump-linked World Liberty Financial halted the wallet’s release, which had been promoted earlier in the week. Eric stated the meme coin would instead partner with World Liberty, which plans its own crypto wallet product.

The conflict began when Trump sons denied involvement with the external wallet team, leading to confusion among supporters. World Liberty later confirmed its plan to buy a large stake in the meme coin for its treasury reserves. The Trump family's crypto ventures now span NFTs, tokens, and DeFi projects totaling nearly $3 billion in value.

Coinbase Beats Justin Sun Firm In Token Dispute

BiT Global has withdrawn its lawsuit against Coinbase over the delisting of wrapped Bitcoin token wBTC, ending a months-long legal dispute. The case was dismissed with prejudice, preventing refiling, and both companies will cover their own legal expenses. BiT Global had alleged Coinbase delisted wBTC unfairly after launching its own competing token, cbBTC, on Ethereum.

Coinbase defended the move as necessary for customer safety and risk management amid concerns about centralized control of wrapped assets. The dispute stemmed from BiT Global’s ties to TRON founder Justin Sun, which triggered scrutiny by DeFi platforms like Aave and MakerDAO. Currently, wBTC has a market cap of $13.6 billion, compared to cbBTC's $4.7 billion.

Data of the Day

US spot Ethereum ETFs recorded 15 consecutive trading days of net inflows, the longest streak since December 2024. The combined value of all inflows reached $3.33 billion by Friday, triggered by strong investor demand after Ethereum’s Pectra upgrade. BlackRock’s ETHA led the surge, pulling in nearly $600 million during the period, according to SoSoValue data.

Analysts say the upgrade attracted institutions, though it has not yet boosted user activity on-chain. Grayscale’s two ETFs together still hold more assets than ETHA, while Fidelity’s fund trails in fourth place. The rise in Ethereum ETF inflows contrasts with Bitcoin ETFs, which have seen over $1 billion in outflows since their late-May peak.

More Breaking News

• Gemini, the Winklevoss twins’ crypto exchange, has filed with the SEC to go public, joining a growing list of blockchain firms pursuing IPOs amid renewed investor interest.
• European lawmakers are preparing a fresh regulatory push for DeFi in 2026, as current MiCA rules leave the concept of “decentralization” undefined and outside existing oversight.
• PumpFun is planning to distribute a portion of its protocol revenue to holders of its upcoming PUMP token, as it targets a massive $1 billion raise through a token sale.
• Cetus Protocol has restarted operations just weeks after suffering a $223 million hack, thanks to a $30 million loan and community support that helped restore most of its lost liquidity.
• Michael Saylor has teased a potential new Bitcoin purchase via cryptic posts, shortly after Strategy raised $1 billion through a stock offering to fuel its ongoing BTC accumulation spree.
• Hyperliquid recorded an all-time high of $248 billion in perpetual futures volume for May, rapidly closing in on Binance’s dominance as its user base and onchain liquidity surges.
• Tether’s CEO dismissed IPO speculation, saying the company doesn’t need to go public and that a rumored $515 billion valuation may actually underestimate its current asset strength.
• 1inch has reclaimed the top spot among DEX aggregators with a 60% market share, largely caused by its timely expansion into Solana and the memecoin trading boom on that network.
• Metaplanet will issue $5.3 billion in stock acquisition rights to expand its Bitcoin holdings, pushing further toward its goal of becoming one of the world’s largest BTC treasuries.
• The UK’s FCA plans to lift its retail ban on crypto ETNs, allowing individual investors to access these riskier products and aligning British policy with other major global markets.
• Uber CEO Dara Khosrowshahi said the firm is actively studying stablecoins for payments, highlighting their potential to reduce costs across the company’s global operations.

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