Argentina Ends Criminal Inquiry Against President Milei in $Libra Cryptocurrency Case

The criminal investigation into President Javier Milei and his sister Karina’s involvement in a cryptocurrency scandal has been terminated.

Federal judge Marcelo Martínez de Giorgi dismissed the case against the president and his sister at the prosecutors’ request, according to court documents.

President Milei has denied promoting the newly launched $Libra token, which plummeted after he referenced it in a February 2025 social‑media post.

He claimed to have acted “in good faith” when the token’s value rose before its abrupt collapse, which left most investors with substantial losses. Milei has not yet commented on the dismissal.

In dismissing the case, Judge Martínez de Giorgi said the reported conduct did not fit any recognized legal category and found no “criminally relevant deception” had been established.

Fraud allegations surfaced after Milei posted about $Libra on X (formerly Twitter), touting the token as a means to fund small businesses and start‑ups.

The token’s price surged after the Argentine president shared a link to purchase it.

Within hours, however, he removed the post and the token’s value collapsed, erasing most of the investors’ capital.

The fallout prompted opposition lawmakers to consider impeachment, and online critics accused Milei of a “rug pull,” a tactic where promoters attract buyers before halting trading and absconding with proceeds.

Milei countered, “I didn’t promote it, I merely shared it,” during an interview with the local broadcaster Todo Noticias.

The presidential office maintained that Milei had no role in $Libra’s development and said the Anti‑Corruption Office would assess whether his conduct was improper.

Milei explained his deletion by stating he was unaware of the project’s details at the time and chose not to continue promoting it after learning more.

In another TV interview, he stressed that investors in $Libra had acted “voluntarily” and were aware of the associated risks.

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