Argentine Court Dismisses Criminal Case Against Javier Milei Over LIBRA Token

An Argentine federal court has officially closed a criminal investigation targeting President Javier Milei and his sister, Karina Milei, concerning their alleged involvement in the promotion of a cryptocurrency known as LIBRA. The decision, rendered by Federal Judge Marcelo Martínez de Giorgi, marks the end of a legal inquiry that scrutinized the high-profile figures for potential roles in a suspected "rug pull" or fraudulent issuance of a meme coin on the blockchain.

Origins of the LIBRA Fraud Investigation

The legal proceedings were initiated in February 2025 following significant market volatility surrounding the LIBRA token. The investigation centered on whether the promotion of the asset by public figures constituted financial fraud. Prosecutors examined digital footprints and social media activity to determine if there was a coordinated effort to mislead investors.

• The probe focused on potential violations of securities regulations and fraud statutes.
• Investigative authorities analyzed the timeline of social media endorsements and subsequent liquidity withdrawals.
• The case involved cooperation between financial regulators and the Argentine judiciary to trace on-chain transactions.

Judicial Ruling and Prosecution Recommendations

The dismissal follows a formal request from Prosecutor Eduardo Taiano, who recommended that the case be dropped due to a lack of evidence linking the President to the token's technical issuance or operational management. According to reports from La Nación, the investigation was unable to establish a criminal nexus between the promotional posts and the eventual price collapse of the digital asset.

"The court records indicate that the evidence provided was insufficient to proceed with criminal charges related to the issuance of the LIBRA token,"

President Milei had previously utilized the X platform (formerly Twitter) to share content related to the cryptocurrency, which saw a rapid spike in valuation followed by a steep decline. While the President subsequently deleted the posts and denied any formal association with the project, the incident raised significant questions regarding the intersection of cryptocurrency markets and political influence.

The resolution of this case highlights the ongoing challenges faced by global regulators in policing decentralized assets and celebrity-backed endorsements. While the Milei siblings have been cleared of criminal wrongdoing in this instance, the LIBRA incident serves as a case study for the volatile nature of speculative tokens and the legal complexities of digital asset promotion within the Web3 ecosystem.