In brief
Federal Judge Marcelo Martinez de Giorgi has dropped the criminal case against Argentine President Javier Milei and his sister Karina at prosecutors’ request, ruling that the alleged events do not fall within a legal category. The case stemmed from Milei’s brief social‑media endorsement of the $Libra coin, which saw a rapid surge in value followed by a collapse that led many investors to lose money. Opponents in Congress seized on the incident to call for impeachment, while critics labeled the expose a rug‑pull. Milei denies actively promoting the coin, stating he simply shared a link before deleting the post once he learned of its risky nature.
Milei’s case is closed. Argentine federal judge Marcelo Martinez de Giorgi dismissed the criminal investigation against President Javier Milei and his sister Karina on a request from prosecutors, ruling that the alleged actions do not constitute a legal offense and that no criminal deception can be proven.
The probe was launched after Milei publicly promoted the newly launched cryptocurrency $Libra on the platform X in February 2025, a move that temporarily boosted its price before the coin collapsed and left many investors scrambling for losses.
Pursuing official documents, the judge emphasized that the events fall “outside a defined legal category,” effectively ending the case.
The crash triggered calls for impeachment from congressional opposition and accusations of a “rug pull”—the tactic of enticing buyers only to abandon the project. Milei has repeatedly maintained that he merely shared a link and did not endorse the coin’s development.
In response, the presidential office declared Milei had no involvement in $Libra’s creation and announced an Anti‑Corruption Office review of any potential impropriety. Milei defended his deletion of the post, claiming he lacked detailed knowledge of the project at the time and voluntarily withdrew support when he learned of the risks.
With the investigation concluded, the focus shifts to political fallout, as critics continue to question Milei’s credibility and the resilience of Argentina’s regulatory oversight over digital assets.
