In brief
A federal judge in Argentina has dropped a criminal investigation into President Javier Milei and his sister Karina over their links to the failed $Libra cryptocurrency. The case, invoked by prosecutors, was dismissed after the court found no evidence of “criminally relevant deception.” The probe had been sparked by Milei’s brief promotion of the coin on social media, which saw a sharp rise and subsequent crash, leaving many investors in loss. The cancellation follows Milei’s denials that he promoted the crypto and the president’s office’s claim of no involvement in its development. Ongoing scrutiny remains over his conduct, as the Anti‑Corruption Office prepares its assessment.
Argentina’s federal court has officially dropped a criminal investigation into President Javier Milei and his sister Karina Milei concerning their alleged involvement in the failed $Libra cryptocurrency scheme. The case was dismissed at the request of prosecutors after Judge Marcelo Martinez de Giorgi concluded that the alleged actions did not fall under any legal category of deception.
The controversy began when President Milei posted a link to buy $Libra on X (formerly Twitter) in February 2025, claiming it could fund small businesses and start‑ups. The coin’s price surged after the tweet, only to plummet within hours when Milei removed the post, a move that triggered accusations of a “rug pull” and led opposition members of Congress to consider impeachment procedures.
Milei maintains that he merely shared information and did not endorse the currency. In a local interview, he said: “I didn’t promote it, I merely shared it.” He also explained that he deleted the post after learning more about the project’s details.
The Anti‑Corruption Office will continue to assess whether the president acted improperly, but the judge’s ruling means the current investigation is closed. The incident has raised questions about the oversight of financial instruments in Argentina and the responsibilities of public officials in promoting new technologies.
