Argentina drops investigation into President Milei over crypto fraud

What the report says

A criminal investigation into Argentine President Javier Milei and his sister, Karina Milei, over their links to the $Libra cryptocurrency scandal has been dropped, according to BBC World News. Court records cited by the broadcaster show that federal judge Marcelo Martinez de Giorgi dismissed the case at the request of prosecutors.

The case stemmed from Milei’s social media post in February 2025 about the newly launched token, which he said would support small businesses and start-ups. After the post, the coin’s value rose sharply, then fell after he deleted the message hours later, leaving many investors with heavy losses. Milei denied fraud, saying he had acted in good faith and that he had only shared the project rather than promoted it.

BBC World News reported that the judge said the alleged conduct did not fit a criminal category and that no criminally relevant deception had been proven. The report also noted that opposition lawmakers had considered impeachment steps after the collapse, while critics online described the episode as a possible “rug pull.” The presidential office had previously said Milei was not involved in developing $Libra and that anti-corruption authorities would review whether he had acted improperly.

The decision closes a politically sensitive case that had drawn attention to the president’s use of social media and the risks tied to speculative crypto promotions.