Judge ends $Libra fraud probe

Argentine President Javier Milei and his sister Karina Milei no longer face a criminal trial over the collapse of the $Libra cryptocurrency. Federal judge Marcelo Martinez de Giorgi closed the investigation on Thursday, accepting the request from prosecutors to drop the case.

The ruling states that the specific actions taken by the pair do not fit a defined legal category for fraud. The judge concluded that no criminally relevant deception had been proven. This decision ends a legal process that began after the coin's value crashed shortly after its public launch.

The dispute centers on a post Milei made on X in February 2025. He shared a link to buy $Libra and claimed the coin would help fund small businesses and start-ups. The price of the token climbed sharply following his endorsement. Within hours, Milei deleted the post, and the value of the coin plunged. Investors who bought the asset during that brief window lost most of their money.

Opposition members in Congress had prepared for impeachment proceedings following the crash. Online commentators labeled the event a rug pull, a scheme where promoters attract buyers and then halt trading to keep the funds. Milei has denied these accusations since the incident first emerged.

In an interview with Todo Noticias, Milei stated, "I didn't promote it, I merely shared it." He described his actions as being in good faith while the coin was rising. He explained that he deleted the post because he did not know the details of the project and decided not to continue promoting it after learning more. He also argued that investors bought the coin voluntarily and understood the risks involved.

The presidential office previously stated that Milei had no involvement in the development of $Libra. At the time of the crash, the office announced that the Anti-Corruption Office would examine whether the president had acted improperly. That review has now effectively concluded with the judge's dismissal of the criminal case.

Milei had not responded to news of the dismissal at the time of the original report. The case involved federal legal standards for proving fraud in digital asset transactions. The dismissal removes the threat of criminal charges against the president and his sister regarding this specific incident.