Judge Drops $Libra Crypto Case Against Milei

Argentine President Javier Milei and his sister Karina Milei faced a criminal probe over a volatile digital asset. That investigation has now been closed.

Federal judge Marcelo Martinez de Giorgi dismissed the case following a request from prosecutors. The judge determined that the actions taken by the siblings did not fit a specific legal definition of crime. He stated that no criminally relevant deception had been proven in the court records.

The dispute began in February 2025 when Milei posted about $Libra on the social media platform X. He described the coin as a funding source for small businesses and start-ups. He included a link for users to purchase the asset. The price of $Libra rose sharply following this announcement.

The market reaction reversed within hours of the post going live. Milei deleted the social media update, and the value of the coin dropped precipitously. Investors who had bought the asset during the brief price spike lost most of their capital. This financial loss prompted opposition members of Congress to initiate impeachment proceedings against the president.

Milei has maintained that his actions were not fraudulent. In an interview with Todo Noticias, he clarified his role in the promotion. He stated, "I didn't promote it, I merely shared it." He further explained that he acted in good faith while the coin's value was increasing. He cited a lack of detailed knowledge about the project as the reason for deleting the post later.

Critics on social media labeled the incident a rug pull, a practice where promoters attract buyers and then stop trading to keep the funds. The presidential office asserted that Milei had no part in developing $Libra. An internal review by the Anti-Corruption Office also concluded that the president had not acted improperly. At the time of the report, the president had not issued a public response to the dismissal.