Politics · Other · 1 hr ago
Argentine judge dismisses case against Milei over $LIBRA crypto collapse
An Argentine federal judge dismissed the criminal case against President Javier Milei, his sister Karina and nine other people over the $LIBRA cryptocurrency.
In February 2025, Milei posted about the little-known coin on social media, then deleted the post hours later as its value fell sharply.
Investors suffered losses estimated at about $100 million, and allegations arose that people behind the coin had misled buyers.
The judge said the losses and price swings alone did not prove criminal deception, and found insufficient evidence that Karina Milei had taken payments to arrange meetings.
The ruling clears all 11 people investigated, including US businessman Hayden Davis, who was linked to the coin's launch.
The case is expected to close once the decision becomes final, unless it is successfully challenged.
An Argentine federal judge dismissed the criminal investigation into President Javier Milei, his sister Karina Milei and nine other people over the $LIBRA cryptocurrency.
Judge Marcelo Martínez de Giorgi said the reported events did not establish a criminal offence or prove deception meeting the threshold for criminal liability.
The cryptocurrency rose after Milei mentioned it in a social media post in February 2025, then crashed after he deleted the post.
Reports estimated investor losses at about US$100 million, while blockchain researchers said around $99 million was withdrawn from the coin’s marketplace.
The ruling also found insufficient evidence that Karina Milei received payments for arranging meetings between the project’s entrepreneurs and her brother.
- Who
- President Javier Milei, his sister Karina Milei and nine other defendants.
- What
- A judge dismissed the criminal investigation over the promotion and collapse of the $LIBRA cryptocurrency.
- When
- Friday, October 23, 2026. The cryptocurrency was promoted in February 2025.
- Where
- Argentina.
- Why
- The judge found insufficient evidence of fraud or other criminal conduct.
Supporters of the ruling
Critics of the ruling
Assessment of the case
Supporters of the ruling
Judge Martínez de Giorgi found that losses and a sharp rise and fall in the token’s value did not prove criminal fraud without evidence of deception meeting the legal threshold.
Critics of the ruling
Maximiliano Ferraro, who chaired a congressional committee investigating the case, called the ruling a planned judicial cover-up and impunity for Milei and those behind the alleged fraud.
Milei posted about $LIBRA on social media, then deleted the post hours later as the token’s value crashed.
A New York court rejected a class-action lawsuit against people behind $LIBRA at first instance, citing legal deficiencies.
Judge Marcelo Martínez de Giorgi dismissed the criminal investigation into Milei, his sister and nine other defendants.
- Defendants cleared
- Javier Milei, Karina Milei and nine other people
- Judge
- Marcelo Martínez de Giorgi
- Token promotion
- February 14, 2025
- Estimated investor losses
- About US$100 million
- Withdrawals reported by blockchain researchers
- Around $99 million from the coin’s marketplace
7 sources
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What people are saying
The reported events do not constitute a criminal offence
Facilitating a contact or helping to organise a meeting does not, in itself, amount to influence peddling
I didn't promote it, I merely shared it
una clara operación judicial planificada de encubrimiento e impunidad para Milei y todos los organizadores de la estafa