Judge Drops Charges Against Milei Over Crypto Collapse

An Argentine federal judge has shut the book on the criminal probe that had hung over President Javier Milei and his sister Karina for months. Judge Marcelo Martinez de Giorgi ruled on Thursday that the government cannot proceed with the matter, a decision that came after prosecutors requested the case be dropped.

Martinez de Giorgi stated in his ruling that the facts of the case do not fit into a legal category and that investigators had failed to establish any criminally relevant deception.

The legal battle stemmed from an incident involving $Libra, a digital currency that saw its value evaporate shortly after Milei brought attention to it on social media in February 2025. At that time, the president told followers on X that the token was intended to support small businesses and new ventures, and he posted a link for purchasing it.

Following the president's message, demand for $Libra spiked and the price climbed rapidly. However, within hours Milei removed the post from his account, and the coin's value collapsed. Investors who had bought in during the surge lost most of their funds.

The fallout drew sharp criticism from political opponents, some of whom moved to start impeachment proceedings against Milei. Commenters online labeled the incident a scheme to lure in buyers and then halt trading to keep the proceeds.

Milei has denied any wrongdoing since the beginning. In a broadcast interview with Todo Noticias, he said, "I didn't promote it, I merely shared it," adding that his actions were taken in good faith while the asset was rising.

He has also defended his decision to delete the post, explaining that he did not know the details of the project and after learning about it, I decided not to continue promoting it. In another television appearance, he noted that investors put money into $Libra voluntarily and understood the risks involved.

The office of the president has maintained that Milei played no role in creating $Libra. The administration stated at the time that the Anti-Corruption Office would look into whether the president had engaged in any improper conduct.

As of Thursday, Milei had not issued a statement regarding the dismissal of the case.