Argentina Drops Criminal Investigation Into Milei Over $LIBRA Memecoin

An Argentine federal judge has dismissed the criminal investigation into President Javier Milei over the $LIBRA memecoin controversy.
The probe examined Milei’s role in promoting $LIBRA on X in February 2025, shortly before the token surged and then collapsed.
Milei later deleted the post, denied having any connection to the cryptocurrency and maintained that he had acted in good faith.
Federal Judge Marcelo Martínez de Giorgi ruled that the investigated events did not constitute a criminal offense and found insufficient evidence to establish a fraudulent scheme.
The investigation into Milei’s sister Karina Milei and businessman Hayden Davis was also dismissed.
The ruling removes a major domestic criminal investigation stemming from the $LIBRA collapse.
However, it does not erase the broader controversy surrounding the token’s launch, investor losses and the risks created when high-profile political figures promote speculative crypto assets.
For the crypto market, the case remains a notable example of how memecoins can quickly become intertwined with legal, regulatory and political risk.