In short
- Federal judge Marcelo Martinez de Giorgi dismissed the criminal case against Argentine President Javier Milei and his sister Karina Milei at the request of prosecutors, court records show.
- The investigation concerned Milei’s February 2025 post on X about the newly launched $Libra cryptocurrency, whose price collapsed within hours of him sharing it.
- The judge said “the reported events do not fall under a legal category” and concluded that no “criminally relevant deception” had been proven.
- Milei denied promoting the coin, telling Todo Noticias: “I didn’t promote it, I merely shared it.”
A federal judge in Argentina has dismissed the criminal investigation into President Javier Milei and his sister Karina Milei over their links to the $Libra cryptocurrency, court records show. Judge Marcelo Martinez de Giorgi threw out the case at the request of prosecutors.
Why was the case against Milei dropped?
In his ruling, Judge Marcelo Martinez de Giorgi wrote that “the reported events do not fall under a legal category” and concluded that no “criminally relevant deception” had been proven. The case had examined the president’s and his sister’s links to the cryptocurrency scandal.
Separately, Milei has threatened unilateral action over the Falklands at the UN general assembly.
What was the $Libra cryptocurrency?
In February 2025, Milei posted on X, formerly Twitter, about the newly launched $Libra coin, which he said at the time would help fund small businesses and start-ups. The cryptocurrency’s price shot up after the president shared a link to buy it. Within a few hours Milei deleted the post and the coin nosedived, losing most investors most of their money.
Did Milei promote the coin?
The president denied promoting $Libra. “I didn’t promote it, I merely shared it,” Milei said in an interview with Todo Noticias. He said he had acted “in good faith” when the cryptocurrency rose in value before crashing.
Milei defended deleting his post, saying he did not know “the details of the project and after learning about it, I decided not to continue promoting it”. In a TV interview he said those who invested in $Libra had done so “voluntarily” and knew the risks.
What did the government and opponents say?
The presidential office said Milei was in no way involved in the development of $Libra and announced that the Anti-Corruption Office would determine whether the president had acted improperly. Opposition members of Congress planned impeachment proceedings, while some online accused Milei of a “rug pull”, in which promoters of a cryptocurrency draw in buyers only to stop trading activity and make off with the money raised from sales.
Has Milei responded to the dismissal?
Milei is yet to respond to news that the case has been dropped. He has also set a two-week deadline for the United Kingdom over a Falklands oil project.
Frequently asked questions
Why was the criminal case against Javier Milei dropped?
Federal judge Marcelo Martinez de Giorgi dismissed the case against Milei and his sister Karina Milei at the request of prosecutors, saying the reported events did not fall under a legal category and that no criminally relevant deception had been proven.
What was the $Libra cryptocurrency scandal?
Milei posted about the newly launched $Libra coin on X in February 2025, saying it would help fund small businesses and start-ups. Its price rose after he shared a link to buy it, then crashed within hours after he deleted the post.
Did Milei admit promoting $Libra?
No. Milei said in an interview with Todo Noticias: “I didn’t promote it, I merely shared it,” and said he had acted in good faith.
Has Milei commented on the case being dropped?
Milei is yet to respond to news that the investigation has been dismissed.
With reporting from BBC News.
Stock image, not from the events described. City Skyline — Joe deSousa / Wikimedia Commons (CC0 1.0)
