The criminal investigation involving Argentine President Javier Milei and his sister concerning a cryptocurrency scandal has been officially closed.
Federal Judge Marcelo Martinez de Giorgi dismissed the allegations against Milei and his sister, Karina, following a request from prosecutors, according to court documents.
Milei has refuted claims that he promoted the newly introduced digital currency $Libra, which experienced a crash shortly after he mentioned it in a social media post earlier in February 2025.
He stated he acted “in good faith” as the value of the cryptocurrency initially surged before plummeting, resulting in substantial losses for many investors. Milei has not publicly commented on the dismissal of the case.
In his ruling, the judge indicated that “the incidents reported do not fall within a legal framework” and determined that no evidence of “criminally relevant deception” was established.
Concerns of fraud emerged after Milei promoted the $Libra coin on X, formerly known as Twitter, claiming it would support small enterprises and startups.
Following his post, the cryptocurrency’s value soared after he shared a purchasing link.
However, just hours later, he removed the post, and the cryptocurrency’s value plummeted, leading to significant financial losses for investors.
This incident prompted opposition members of Congress to plan impeachment actions, with some internet users accusing Milei of orchestrating a “rug pull”—a common scheme where cryptocurrency promoters lure investors before ceasing trading and absconding with the raised funds.
Milei defended himself by claiming, “I didn’t promote it; I simply shared it,” during an interview with local outlet Todo Noticias.
The presidential office maintained that Milei had no involvement in the creation of $Libra and announced that the Anti-Corruption Office would investigate whether the president acted inappropriately.
Milei further clarified his decision to delete the post by stating that he was unaware of “the specifics of the project at that time, and upon gaining awareness, I opted not to promote it further.”
In a subsequent television interview, he maintained that those who invested in $Libra did so “of their own accord” and understood the associated risks.