In brief
A federal judge in Argentina has closed a criminal inquiry into President Javier Milei and his sister, Karina, over allegations that the president promoted a cryptocurrency that collapsed. The case, which was previously slated for impeachment discussions, was dropped after prosecutors claimed no criminal deception could be proven. Milei had claimed to have acted in good faith, withdrawing his promotion of the $Libra coin once its value plummeted. Both the president and his office maintain that Milei was not involved in the coin’s development and that investors acted voluntarily. The decision ends a contentious chapter as the anti-corruption office examines whether the president’s actions may have breached public trust.
Argentine President Javier Milei and his sister, Karina, have had a criminal investigation dropped by federal judge Marcelo Martinez de Giorgi after prosecutors declined to pursue the case.
The inquiry had stemmed from Milei’s brief social‑media promotion of the cryptocurrency $Libra in February 2025, a coin that saw its value spike and then collapse within hours of his post. The sudden crash left many investors with substantial losses, triggering calls from opposition lawmakers for presidential impeachment and allegations that Milei engaged in a "rug pull" scheme.
Milei has repeatedly said he merely shared a link to the coin and that he was unaware of the project details before deleting the post. He claims his actions were in good faith and that investors knowingly took on risk. The president’s office stresses that he had no role in developing $Libra and that the Anti‑Corruption Office will assess any potential misconduct.
In his decision, the judge noted the events did not fit a legal category and that the commission did not establish "criminally relevant deception." As a result, the case has been dismissed, bringing an end to the immediate threat of impeachment based on the cryptocurrency incident.
