Argentine Court Dismisses $LIBRA Crypto Case Against President Javier Milei

Highlights:

• The judge found Milei’s promotion of $LIBRA insufficient to establish criminal fraud against investors.
• The $LIBRA token surged after Milei promoted it last year, then crashed, leaving investors with losses.
• Milei welcomed the decision and accused his political opponents and media critics of targeting his reputation.

An Argentine federal judge has dismissed the criminal case against President Javier Milei over the $LIBRA cryptocurrency scandal. The October 23 ruling also covers his sister, Karina Milei, and nine others linked to the case. The investigation began after Milei promoted the token in February 2025, before its price crashed and left thousands of investors facing losses.

In an October 23 official statement, Argentina’s presidential office welcomed the decision. It said the judge found that the events under investigation did not constitute a criminal offense.

Argentine Judge Dismisses Fraud Allegations in $LIBRA Case

Federal judge Marcelo Martínez de Giorgi ordered the dismissal at the request of prosecutor Eduardo Taiano. The case involved allegations of fraud, influence peddling, abuse of authority, and improper dealings connected to public office. The presidential office cited Article 336, Section 3 of Argentina’s Criminal Procedure Code. The provision allows a case to be dismissed when the investigated actions do not constitute a crime.

According to the court ruling reported by EFE, investigators could not establish that Milei had deliberately misled investors. The judge also found insufficient evidence that he illegally used his presidential powers to support the cryptocurrency. The court acknowledged that Milei’s position may have attracted buyers to the token. However, his public endorsement alone was not enough to establish criminal fraud.

Investigators also could not prove that Karina Milei received payments to arrange meetings between her brother and people involved in the project. The ruling dismisses the criminal allegations against the defendants. However, it is not an acquittal following a criminal trial.

How Milei’s $LIBRA Promotion Triggered the Investigation

The controversy began on February 14, 2025, when Milei promoted $LIBRA through his X account. He described the cryptocurrency as part of a private project intended to support Argentine businesses. The token’s price climbed sharply after his post, attracting more buyers. However, it crashed hours later, causing heavy investor losses.

Milei subsequently deleted the post and denied involvement in creating the token. He said he had promoted the project in good faith before learning more about it. According to La Nación’s report, more than 40,000 buyers suffered losses, while a small number of cryptocurrency wallets withdrew around $100 million. The judge found that the withdrawals and investor losses alone did not establish a criminal scheme.

Milei Celebrates Court Decision After Months of Allegations

Following the ruling, Milei welcomed the decision in an October 23 local-time post on X. He accused political opponents and media organizations of using the investigation to damage his reputation. “And now who compensates me for a year, eight months and nine days of lies, slanders and insults aimed at tainting my good name and honor?” Milei wrote.

¿Y AHORA QUIÉN ME COMPENSA POR UN AÑO, OCHO MESES Y NUEVE DÍAS DE MENTIRAS, CALUMNIAS E INJURIAS BUSCANDO MANCHAR MI BUEN NOMBRE Y HONOR?

La Justicia volvió a poner las cosas en su lugar y quedó al descubierto la TREMENDA operación política y mediática cuyo único objetivo fue…

— Javier Milei (@JMilei) October 23, 2026

He also described the allegations as part of a political and media campaign against his government. His office made similar accusations in its official statement. Meanwhile, a Chequeado review found that investigators had not fully traced the money or established the contents of some communications linked to the case. Although the court dismissed the criminal charges, the decision does not provide compensation to investors who lost money during the $LIBRA crash.