A federal judge in Argentina has dismissed a criminal investigation into President Javier Milei and his sister Karina Milei concerning their connection to a cryptocurrency scheme. Judge Marcelo Martinez de Giorgi approved the dismissal at the request of prosecutors based on court documentation.
The investigation centered on allegations that Milei promoted a newly created cryptocurrency called $Libra through a social media post in February 2025. The cryptocurrency experienced a rapid price increase following the president’s post but subsequently collapsed within hours after Milei deleted the post, resulting in significant financial losses for most investors. The incident prompted opposition members of Congress to consider impeachment proceedings, with some observers characterizing the situation as a “rug pull,” a scheme where cryptocurrency promoters attract buyers before halting trading activity and retaining investor funds.
In his defense, Milei maintained that he did not actively promote $Libra but merely shared information about it. He stated he acted “in good faith” and removed his post after determining he lacked sufficient knowledge about the project’s details. The president’s office emphasized that Milei had no involvement in developing the cryptocurrency and indicated that the Anti-Corruption Office would evaluate whether he had acted improperly.
In dismissing the case, the judge determined that the reported events did not constitute a legal violation and that no “criminally relevant deception” could be established. Milei contended that investors had acted voluntarily and were aware of associated risks. As of the time of reporting, the president had not publicly responded to the case dismissal.
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