Judge clears Milei in $Libra case after coin crashes

Federal judge Marcelo Martinez de Giorgi dismissed the criminal case against Argentine President Javier Milei and his sister Karina Milei on Thursday. The ruling determined that the collapse of the $Libra cryptocurrency did not constitute a crime.

The investigation began in February 2025 after the president posted a message on X, formerly Twitter. He stated the coin would help fund small businesses and start-ups and included a link to purchase it. The price rose sharply following the post.

Within hours, Milei deleted the post and the coin's value fell sharply. Most investors lost a large portion of their capital. Opposition lawmakers in Congress planned impeachment proceedings in response. Online critics described the event as a rug pull, a scheme where promoters stop trading after raising funds.

Milei has denied promoting the asset. In an interview with Todo Noticias, he said, I didn't promote it, I merely shared it. He stated he acted in good faith while the value increased. He explained that he removed the post because he did not know the details of the project and decided not to continue promoting it.

The president also argued in a television interview that buyers invested voluntarily and understood the risks. The presidential office stated that Milei had no involvement in the development of $Libra. The office announced that the Anti-Corruption Office would review whether the president acted improperly.

Prosecutors asked Judge Martinez de Giorgi to close the case. The judge agreed in his ruling. He wrote that the reported events do not fall under a legal category. He concluded that no criminally relevant deception had been proven.

Milei had not responded to the news of the dismissal at the time of the report.