In brief
A federal judge has dismissed the case against President Javier Milei and his sister Karina Milei over allegations that their promotion of a cryptocurrency called $Libra caused a sharp price collapse and investor losses. The decision, made at prosecutors’ request, followed a review that found the alleged actions did not constitute criminal deception. Milei had previously denied endorsing the coin, claiming he merely shared a link on X that later fell in value. The incident triggered impeachment calls in Congress and accusations of a rug‑pull from critics, yet the administration maintains Milei had no role in the project. With the probe closed, the controversy highlights the risk high‑profile figures face when engaging with volatile crypto ventures.
The Argentine federal court has dismissed the investigation into President Javier Milei and his sister over allegations that their promotion of a new cryptocurrency led to investor losses.
Judge Marcelo Martinez de Giorgi dropped the case at prosecutors’ request, saying the events did not fall under a criminal category and no deception had been proven.
Milei had previously denied promoting $Libra, a crypto coin that surged after a post by him on X, but collapsed within hours, wiping out investors.
The fallout sparked calls for congressional impeachment and accusations of a rug pull from critics, yet the administration maintains that Milei had no role in the project.
With the probe closed, Milei remains silent, but the controversy underscores the volatility in the crypto market and the political risks for high‑profile figures endorsing new tokens.
