Argentine criminal probe into President Milei and sister over $Libra crypto dropped

A criminal investigation into Argentine President Javier Milei and his sister, Karina Milei, has been dropped. The case concerned their links to the $Libra cryptocurrency scandal. BBC News and Reuters each reported the decision, citing court records.

According to Reuters, the investigation was dropped on Friday.

According to court records cited by BBC News, federal judge Marcelo Martinez de Giorgi dismissed the case at the request of prosecutors. BBC News reported that the judge said "the reported events do not fall under a legal category". He also concluded that no "criminally relevant deception" had been proven, according to BBC News.

The reports reviewed by Vocemundi do not explain why prosecutors asked for the dismissal. They do not include the full text of the ruling. They do not say whether the decision can be appealed.

Background

The case concerns $Libra, a cryptocurrency that Milei mentioned in a post on X in February 2025. At the time, he said it would help fund small businesses and start-ups, according to BBC News.

BBC News reported that the coin's price rose after Milei shared a link to buy it. Within a few hours, he deleted the post. The coin's value then fell sharply, and most investors lost most of their money, according to BBC News. The reports do not give figures for the losses or the number of investors affected.

According to BBC News, the episode led opposition members of Congress to plan impeachment proceedings. The presidential office announced that Argentina's Anti-Corruption Office would determine whether the president had acted improperly. The reports do not describe the outcome of that review or the current status of the impeachment effort.

What each side says

Milei has denied promoting $Libra. "I didn't promote it, I merely shared it," he said in an interview with local outlet Todo Noticias, according to BBC News. He said he had acted "in good faith", BBC News reported.

He has defended deleting the post. According to BBC News, he said he did not know "the details of the project and after learning about it, I decided not to continue promoting it". In a TV interview, he said those who invested in $Libra did so "voluntarily" and knew the risks, according to BBC News.

The presidential office said Milei was in no way involved in the development of $Libra, BBC News reported.

Some critics online accused Milei of a "rug pull", according to BBC News. The term describes a scheme in which promoters of a cryptocurrency draw in buyers, then stop trading activity and take the money raised from sales.

At the time of BBC News's report, Milei had not responded to the dismissal. The reports do not include any response from Karina Milei or the presidential office.

Analysis

The dismissal closes this criminal investigation, according to court records cited by BBC News and Reuters. Its wider impact is less clear. The reports reviewed by Vocemundi do not say whether the decision can be appealed, or whether anyone intends to appeal. They also do not describe the status of the Anti-Corruption Office review or the impeachment effort. Supporters of the president may see the ruling as confirming his account. Critics may continue to question the episode on political or ethical grounds. Whether the matter returns to the courts or to Congress will depend on steps that have not been reported.

Produced by the Vocemundi newsroom with AI assistance.