In brief
A federal judge has closed the probe into Argentine President Javier Milei and sister Karina Milei over alleged links to a cryptocurrency that crashed after the president highlighted it on social media. The investigation, initiated after a spike and sudden fall in the token’s price, was dismissed on the grounds of insufficient evidence. Critics had called for impeachment, but the court found no criminal deception. Milei said he acted in good faith and pulled the post after learning more about the project. The decision leaves questions over possible corruption unanswered for now.
Case Against President Milei Drops After Judge Declines to Find Deception
Federal judge Marcelo Martinez de Giorgi announced yesterday the termination of a criminal investigation that had linked Argentine President Javier Milei and his sister, Karina Milei, to a cryptocurrency that plummeted in value after the president promoted its sale.
The probe, which had been initiated after the token’s price surged and then collapsed following a brief mention by Milei on the platform X, was dismissed on the grounds that the alleged events did not fall under any criminal category and that no clear evidence of deception had been produced.
The investigation gained notoriety when Milei posted a link to buy the $Libra coin in February 2025, sparking a temporary rise in its value and provoking accusations of a 'rug-pull' scam. He deleted the post within hours, and the token subsequently crashed, wiping out the bulk of investor gains.
Despite widespread criticism, including calls for impeachment from opposition lawmakers, the court found insufficient proof of wrongdoing. Milei has maintained that he merely shared the link and acted in good faith once he learned more about the project.
Officials say the Anti‑Corruption Office will still assess whether the president’s conduct breached ethical or legal standards, but the judicial decision ends the criminal case for now.
