An Argentine federal judge has dismissed the criminal probe into President Javier Milei over his promotion of the crashed memecoin LIBRA, ruling that his endorsement did not constitute fraud — despite the token losing more than 95% of its value after launch.
The ruling also clears Milei’s sister Karina, the presidency’s secretary general, and U.S. businessman Hayden Davis, who described himself as an adviser to the token’s launch. In all, 11 people were cleared, and none of them had been formally questioned in the case.
Javier Milei LIBRA memecoin (Credits: CoinDesk)
Argentina LIBRA Case: Why the Judge Dismissed It
Judge Marcelo Martínez de Giorgi acknowledged that Milei’s endorsement could have given the launch “greater impact,” but said his social media post and LIBRA’s subsequent collapse were insufficient to establish fraud without evidence of a specific deception, according to court records cited in reports.
The judge also found no evidence that Karina Milei sought or received money in exchange for access to the president, or that proceeds from LIBRA reached public officials, according to Argentine fact-checking outlet Chequeado.
LIBRA Memecoin Crash: What Happened
LIBRA crashed soon after its launch in February 2025, losing more than 95% of its value after reaching about $5. Wallets linked to its creator withdrew around $99 million in cryptocurrency around the collapse, according to the reports.
The dismissal closes the criminal case, though the episode remains one of the most controversial intersections of politics and crypto in recent years — a presidential endorsement, a memecoin boom, and a crash that wiped out most of the token’s value within days.
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Source: CoinDesk — read the full story there.
