A criminal investigation into Argentine President Javier Milei and his sister, Karina, over their links to a cryptocurrency scandal has been dropped. Federal judge Marcelo Martinez de Giorgi dismissed the case after prosecutors made a request, according to court records.
Milei had denied promoting the $Libra coin, which collapsed shortly after he mentioned it in a social media post in February 2025. He claimed he acted “in good faith” as the cryptocurrency rose in value before crashing, leading to significant losses for most investors. Milei has not yet commented on the case’s dismissal.
In his ruling, the judge stated that the events reported did not fall under any legal category and concluded that there was no proven “criminally relevant deception.”
The fraud accusations stemmed from a post Milei shared on X (formerly Twitter) about $Libra, which he claimed would support small businesses and start-ups. The cryptocurrency’s price surged after he provided a link to purchase it, but within hours he deleted the post, causing its value to plummet, resulting in heavy losses for investors.
This led opposition members of Congress to consider impeachment proceedings, with some accusing Milei of a “rug pull,” a scam where promoters attract buyers only to cease trading activity and abscond with the money raised.
Milei maintained during an interview with Todo Noticias that he did not promote the coin but merely shared it. His office confirmed he played no role in the development of $Libra and stated that the Anti-Corruption Office would investigate any improper actions by the president.
He defended the deletion of his post by stating he initially lacked knowledge about the project’s details and chose not to promote it further upon learning more. In a TV interview, he also asserted that those who invested in $Libra did so “voluntarily” and were aware of the risks involved.
