Argentina court dismisses crypto fraud case against President Milei

A criminal investigation into Argentine President Javier Milei and his sister Karina Milei over their alleged involvement in a cryptocurrency scandal has been closed. Federal judge Marcelo Martinez de Giorgi dismissed the case at the request of prosecutors, according to court records.

The inquiry centred on the $Libra cryptocurrency, which collapsed shortly after Milei referenced it in a social media post in February 2025. Milei had previously denied promoting the coin for fraudulent purposes, maintaining he had acted in good faith when its value rose before crashing, leading to significant losses for most investors. He has not yet commented on the dismissal of the case.

In dropping the investigation, the judge stated that the events in question did not meet the threshold of a legal offence, and found no evidence of criminally relevant deception.

The fraud allegations stemmed from a post Milei made on X, formerly known as Twitter, in which he described $Libra as a tool to support small businesses and start-ups. The coin's price surged after Milei shared a link allowing people to purchase it, before later crashing.