An Argentinian federal judge has dismissed a criminal investigation into President Javier Milei and his sister Karina Milei regarding the collapse of the $Libra cryptocurrency token. Judge Marcelo Martinez de Giorgi ruled on Friday that the events surrounding the token’s launch did not constitute a criminal offense. The judge noted that investor losses and the token’s price volatility were insufficient to prove fraud, even though Milei’s endorsement may have amplified its initial impact.
Milei had promoted the little-known meme coin in a post on X in February 2025, which he later deleted. He denied any direct involvement with the cryptocurrency, which crashed shortly after its launch. The judge also dropped an investigation into US businessman Hayden Davis, who acted as a launch adviser for the token and claimed he held close to $100 million after its collapse, denying any wrongdoing.
The official presidential office celebrated the ruling, stating that Milei was investigated with complete freedom and found innocent. The statement also questioned who would take responsibility for the failed attempt at an institutional coup. Milei has maintained that he acted in good faith and accused political rivals of exploiting the situation.
Since taking office in 2023, Milei has implemented austerity measures, including layoffs, ministry closures, and subsidy cuts, to combat high inflation, which has since fallen to about 2 percent a month. He claims his economic plan has led to 27 consecutive months of growth, expanding at four times the historical rate.