In brief
A federal judge has dropped the criminal investigation into Argentine President Javier Milei and his sister Karina Milei, who were accused of promoting a failed cryptocurrency called $Libra. The case was dismissed at prosecutors’ request, with the judge ruling that no criminal deception could be proven. Milei had denied any role in the project after a social media post driven a speculative price spike before the coin crashed, leaving many investors with losses. The move sidesteps potential impeachment proceedings and underscores the fragility of crypto‑related political controversies. Authorities will now rely on the Anti‑Corruption Office to determine any improper conduct.
A criminal investigation into Argentine President Javier Milei and his sister’s ties to a cryptocurrency scandal has been dropped by a federal judge.
Federal Judge Marcelo Martinez de Giorgi dismissed the case at the request of prosecutors, saying the alleged actions do not fall under a legal category and that no “criminally relevant deception” could be proven.
President Milei had previously denied promoting the newly launched cryptocoin $Libra, which collapsed shortly after a February 2025 social‑media post from him that praised the coin’s potential to fund small businesses and start‑ups.
The crypto’s price spiked almost immediately when the president shared a link to buy it, only to crash within hours after he deleted the post. The rapid rise and fall caused significant losses for many investors and drew accusations of a “rug pull.”
Opposition lawmakers pursued impeachment proceedings based on the scandal, while citizens on social media branded Milei a rug‑pull orchestrator. The president has maintained that he merely shared the link “in good faith” and that investors acted voluntarily after understanding the risks.
Lawmakers noted that Milei had no role in developing $Libra, and his office declared that the Anti‑Corruption Office would determine whether there was any improper conduct.
As the investigation ends, Milei has yet to respond to the latest court decision.
