Milei cleared in $Libra crypto case after judge finds no criminal deception

Argentine President Javier Milei and his sister Karina are no longer facing a criminal investigation over a cryptocurrency scandal. Federal judge Marcelo Martinez de Giorgi dismissed the case on October 23, 2026, after prosecutors requested the closure.

The ruling states that the reported events do not fall under a specific legal category. The judge concluded that no criminally relevant deception had been proven in the matter.

The case centered on $Libra, a cryptocoin that collapsed shortly after Milei mentioned it on social media in February 2025. In a post on X, the president claimed the coin would help fund small businesses and start-ups. He shared a direct link for buying the asset, and its price climbed sharply following the announcement.

Within hours of the post, Milei deleted it. The coin's value then plunged. Most investors lost the bulk of their money in the drop. The episode led opposition members of Congress to plan impeachment proceedings. Online critics accused the president of a rug pull, a scheme where promoters draw in buyers and then halt trading to keep the raised funds.

Milei has consistently rejected the accusations. In an interview with Todo Noticias, he stated, "I didn't promote it, I merely shared it." He argued that he acted in good faith while the coin was rising. The president defended deleting the post by saying he did not know the details of the project. He added that after learning about it, he decided not to continue promoting it. He also noted that investors put money into $Libra voluntarily and understood the risks.

The presidential office announced that Milei had no involvement in the development of the coin. The office also said the Anti-Corruption Office would examine whether the president had acted improperly at the time. Milei had not responded to news of the dismissal at the time of the original report.