Crypto Case: Judge Clears Argentina's President

Javier Milei and his sister, Karina Milei, no longer face criminal charges related to the $Libra cryptocurrency crash. Federal judge Marcelo Martinez de Giorgi dismissed the case on Thursday after prosecutors requested closure. The ruling marks the end of a legal review that began following a volatile trading episode in early 2025.

The legal process started in February 2025 when the president posted about $Libra on X, formerly Twitter. He stated the coin would help fund small businesses and start-ups and included a link to purchase it. The coin’s price rose sharply after the post was published. Within hours, Milei deleted the message, and the token’s value dropped. Most investors who bought the coin during that brief window lost most of their money.

Opposition members of Congress immediately moved to plan impeachment proceedings. Online critics labeled the event a rug pull, a scheme where promoters attract buyers and then halt trading to keep the funds. Milei rejected these claims. In an interview with Todo Noticias, he clarified his role: "I didn't promote it, I merely shared it." He added that he acted in good faith while the coin's value was rising.

The president explained the decision to delete the post by noting he did not know the project's details at first. After learning more, he chose to stop promoting it. In a separate television interview, he argued that investors entered the market voluntarily and understood the inherent risks. The presidential office maintained that Milei had no involvement in the development of $Libra.

Following the crash, the government announced that the Anti-Corruption Office would examine whether the president had acted improperly. That internal review preceded the formal criminal investigation handled by Martinez de Giorgi. The judge’s ruling states that the reported events do not fit a specific legal category. He concluded that no criminally relevant deception was proven in the case.

Martinez de Giorgi’s decision closes the criminal file against both the president and his sister. The dismissal follows the prosecutor’s recommendation to end the case. Milei had not responded to the news of the dismissal at the time of the initial report.

The next step in the legal process involves the formal notification of the parties. The case will be archived in the federal court records. No further criminal hearings are scheduled regarding the $Libra incident.