Judge Drops Crypto Case Against Milei, Citing Lack of Criminal Deception

Federal Judge Marcelo Martinez de Giorgi dismissed the criminal case against Argentine President Javier Milei and his sister, Karina Milei, on October 23, 2026. The judge issued the ruling after prosecutors formally requested that the investigation be closed. In the decision, the court determined that the reported events did not fit within a specific legal category and that no criminally relevant deception had been proven.

The investigation focused on $Libra, a cryptocurrency that launched in early 2025. The token's value spiked immediately after President Milei posted a message on X, formerly Twitter, in February 2025. In that post, Milei stated the coin would help fund small businesses and start-ups and included a direct link for users to purchase the asset. The price of $Libra rose sharply following the announcement.

Milei deleted the social media post within a few hours of publishing it. The coin's value subsequently plunged. Most investors who had bought into the token during the spike lost the majority of their capital. The rapid rise and fall of the asset drew attention from opposition members of Congress, who planned impeachment proceedings. Online critics frequently described the episode as a rug pull, a scheme where promoters attract buyers and then halt trading to retain the funds.

President Milei has consistently denied wrongdoing. During an interview with Todo Noticias, he clarified his role by stating, "I didn't promote it, I merely shared it." He maintained that he acted in good faith while the coin's value was increasing. The president explained that he removed the post because he did not know the details of the project and decided not to continue promoting it after learning more.

In a television interview, Milei argued that individuals who invested in $Libra did so voluntarily and understood the inherent risks. The presidential office previously announced that the Anti-Corruption Office would examine whether the president had acted improperly. The office also stated that Milei had no involvement in the development of the cryptocurrency.

The dismissal concludes the specific criminal inquiry initiated after the 2025 market event. Judge Martinez de Giorgi's ruling stands as the final judicial action on this matter, with the case officially dropped from the federal docket.