Argentinian judge drops fraud investigation into Milei over crypto scandal

What the report says

An Argentine federal judge has ended a criminal fraud investigation into President Javier Milei and his sister Karina Milei over the collapse of the $Libra cryptocurrency he promoted online. According to Al Jazeera, Judge Marcelo Martinez de Giorgi ruled that the events described in the case did not amount to a criminal offence and said losses suffered by investors, or the token’s price swings, were not enough on their own to prove fraud.

The ruling centered on Milei’s role in publicizing the little-known meme coin on X in February 2025. He later deleted the post and denied any connection to the project after the token briefly surged and then fell sharply. The judge said Milei’s office may have given the launch greater visibility, but that did not by itself make the episode a fraudulent scheme. The inquiry also included US businessman Hayden Davis, who described himself as a launch adviser for the token; he has denied wrongdoing.

The decision is politically significant because Milei has been under scrutiny while pushing a hard-line economic agenda at home. Since taking office in 2023, he has cut public spending, reduced subsidies and laid off state workers as part of an austerity drive aimed at lowering inflation. The case also unfolded against the backdrop of Milei’s close relationship with US President Donald Trump, which Al Jazeera noted has been a prominent feature of his international profile.