BUENOS AIRES, October 24 (Aalimi Nation) – An Argentine federal judge has dropped the criminal investigation into President Javier Milei and his sister Karina Milei over the $LIBRA cryptocurrency token, ending a case that had hung over the government since early 2025.
Judge Marcelo Martinez de Giorgi issued the ruling on Friday, according to court records. In the decision on the Milei LIBRA case, he wrote that "the reported events do not constitute a criminal offence."
The judge said investor losses and the rise and fall of the token's price were not enough on their own to establish fraud. He acknowledged that the president's institutional standing could have given the launch "greater impact," but said that did not amount to a fraudulent scheme.
The judge also closed the inquiry into Hayden Davis, a United States businessman who described himself as a "launch adviser" for the token. The ruling covers the president, his sister and the other people named in the inquiry.
In February 2025, Milei recommended the little-known meme coin in a post on X. He later deleted the post and said he had no link to the token. The coin rallied briefly and then crashed, wiping out much of its value soon afterwards.
Davis has acknowledged holding close to $100 million after the crash. He denies wrongdoing.
The presidential office responded on X, saying Milei had "absolute proof of his innocence" and calling the outcome a first in history. The same post asked who would take responsibility for what it described as wasted taxpayers' money and the president's time in a "failed attempt at an institutional coup."
Milei has said he acted "in good faith" and has accused political rivals of trying to exploit the episode.
Donald Trump, a close ally of the Argentine leader, has called him his "favourite president" and has said of his support: "I'm with this man because his philosophy is correct."
The decision comes as Milei's government points to economic gains. Since taking office in 2023, he has laid off thousands of state employees, cut subsidies and shut ministries. Monthly inflation has reportedly fallen to about 2 percent, and the government says the economy has grown for 27 consecutive months.
The ruling closes the criminal inquiry for now, but it was not clear from the available court information whether any party can or will challenge it. Investors who lost money in the collapse of the token may still pursue other legal avenues, though no such filings were detailed in the ruling as reported.
