In brief
Argentine authorities have closed the case against President Javier Milei and his sister Karina related to the turbulent rise and fall of the $Libra coin. Federal judge Marcelo Martinez de Giorgi ruled that the events did not constitute a criminal offence and that no fraudulent conduct was proven. Milei, who initially defended his role as merely sharing a link, has yet to issue a response. The decision follows intense scrutiny from Congress and accusations of a “rug pull” tied to the crypto’s collapse. This move temporarily eases impeachment pressures but leaves open the possibility of future investigations.
Argentina’s federal court has dropped a criminal case that once linked President Javier Mile i and his sister Karina to a controversial cryptocurrency debacle. Federal judge Marcelo Martinez de Giorgi, acting at the request of prosecutors, ruled that the alleged events did not fall under any legal category and that no fraud could be proven against the President.
The case centered on a brief Twitter‑style post from Mile i in February 2025 that touted the newly launched $Libra coin as a way to fund small businesses and start‑ups. Following the post, the coin’s price surged, only to collapse within hours after the President deleted the tweet. Critics accused him of a “rug pull,” a scheme where a promoter lures investors and then withdraws the liquidity, leaving the token worthless.
Despite the collision, Mile i has maintained that he merely shared the link and did not endorse the project. He affirmed that any investors who bought the coin did so voluntarily and were aware of the risks. The presidential office stated that Mile i had no involvement in the development of $Libra and that the Anti‑Corruption Office would assess whether he acted improperly.
With the investigation closed, pressure from opposition members of Congress to initiate impeachment proceedings has subsided for the moment. However, the incident remains a flashpoint in Mile i’s wave of hard‑line economic policies and his polarizing public image.
