Judge Drops Crypto Case Against Milei

The criminal case against Argentine President Javier Milei and his sister, Karina Milei, has been officially dismissed. This decision comes from court records and marks the end of a high-profile legal battle. The move resolves a significant political dispute that has hung over the administration for months. It clears a major hurdle for the president in his first year of office.

Federal judge Marcelo Martinez de Giorgi issued the ruling. He acted after prosecutors requested that the case be closed. The judge provided specific reasons for the dismissal. He stated that the reported events did not fit into a specific legal category. Furthermore, he concluded that no criminally relevant deception had been proven in the investigation.

The investigation centered on a cryptocurrency called $Libra. This digital asset was newly launched when the controversy began. It collapsed shortly after the president mentioned it in a social media post. The incident took place in February 2025. This timing placed the event early in his presidency and drew immediate attention.

Milei posted about the coin on X, formerly known as Twitter. He claimed the coin would help fund small businesses and start-ups. He also shared a direct link for people to buy the asset. Following this post, the price of the coin climbed sharply. This rapid increase attracted many new investors who hoped to profit.

The situation changed quickly within a few hours. Milei deleted the post from his account. As a result, the value of the coin plunged. Most investors lost the bulk of their money in the crash. This sudden drop in value caused significant financial losses for those who had bought in.

The episode sparked strong reactions from political opponents. Members of Congress from the opposition parties planned impeachment proceedings. They viewed the incident as a serious breach of trust. Online critics also weighed in with harsh judgments. Some accused the president of executing a rug pull. This term describes a scheme where promoters draw in buyers and then halt trading to keep the raised money.

Milei has consistently rejected these accusations. He offered his own explanation in an interview with Todo Noticias. He stated, I did not promote it, I merely shared it. He argued that he acted in good faith while the coin was rising in value. This defense aimed to separate his personal intent from the market mechanics.

He also defended his decision to delete the original post. He explained that he did not know the details of the project at first. After learning more about it, he decided not to continue promoting it. In a separate television interview, he argued that investors made their decisions voluntarily. He said they understood the inherent risks of the market.

The presidential office provided additional context on the matter. Officials said Milei had no involvement in the development of $Libra. They also announced that the Anti-Corruption Office would examine the situation. This internal review was meant to determine if the president had acted improperly. The formal dismissal by the judge now closes the external legal chapter of this story.

As of the original report, Milei had not responded to the news of the dismissal. The case closure represents a victory for the executive branch. It suggests that the legal system found no basis for criminal liability. The political fallout may continue, but the formal investigation is now over.