BUENOS AIRES — An Argentine federal judge on Friday dismissed the criminal investigation into President Javier Milei over the collapsed $LIBRA cryptocurrency he promoted online, ruling that the reported events did not constitute a criminal offence, according to DPA and Reuters reporting of the court decision.
Source: DPA, Oct 23-24, 2026
Federal judge Marcelo Martinez de Giorgi said the incidents under investigation did not fall under any criminal statute, and that investor losses and the rise and fall in the token's price were insufficient to establish fraud, DPA reported. Prosecutors had previously reached the same conclusion, and the judge said Milei's institutional standing could have given the launch greater impact when he posted about it, but that did not translate into a fraudulent scheme.
Source: DPA, Oct 23-24, 2026
The ruling also closed the investigation into Milei's sister Karina Milei, the president's chief of staff, and US businessman Hayden Davis, who described himself as a launch adviser for the token, Reuters reported via TradingView/Coinpedia. The judge said investigators found no evidence Karina Milei received payments to arrange meetings, and Davis has acknowledged holding close to $100 million after the crash and denies wrongdoing.
Source: Reuters via TradingView, Oct 24, 2026
Yaani: the estimated investor losses of more than $200 million mean more than $20 crore in US dollar terms (yaani 200 million = 20 crore), and the close to $100 million Davis acknowledged holding is about $10 crore.
Source: Awaaz Punjab explainer
Milei promoted the little-known token on X in February 2025, writing "The world wants to invest in Argentina. $LIBRA," before deleting the post hours later as its value collapsed. "I was not aware of the details of the project and once I found out, I decided to not continue giving it publicity," he said in a subsequent statement, DPA reported. Some opposition politicians had called for impeachment proceedings.
Source: DPA, Oct 23-24, 2026
Milei, 56, welcomed the decision, saying it exposed an "enormous political and media operation" aimed at undermining the presidency, DPA reported. The official presidential office shared a post on X claiming the investigation had established Milei's innocence and calling it a failed attempt at an institutional coup, Reuters reported. The opposition criticised the ruling; the left-wing Peronist youth organisation La Campora wrote on X that the judiciary is controlled by those in power — an allegation, presented as the organisation's claim.
Source: DPA; Reuters, Oct 24, 2026