President Javier Milei’s role in launching the cryptocurrency does not translate into a fraudulent scheme, says the judge. Published October 24, 2026 October 24, 2026 An Argentine federal judge dropped a criminal investigation against President Javier Milei and his sister Karina Milei over the collapse of a cryptocurrency he promoted online. Judge Marcelo Martínez de Giorgi issued the decision on Friday, according to court records, ending an investigation into Milei’s role in the launch of the $Libra token, which crashed after a brief demonstration. Recommended stories list of 3 itemsend of list “The facts reported do not constitute a criminal offense,” the judge said in a ruling. He also wrote that investor losses and the rises and falls in the currency’s price were insufficient to establish fraud. In his ruling, Martínez de Giorgi said Milei’s institutional position could have given the launch a “greater impact” when he published about it, but that does not translate into a fraudulent scheme. Javier Milei recommended the little-known meme coin in a post on X in February 2025. He later deleted the post and denied any links to the cryptocurrency, whose value soon plummeted. The judge also dismissed an investigation into American businessman Hayden Davis, who described himself as a “launch advisor” for the token. Davis has acknowledged that he had nearly $100 million after the accident and denies any wrongdoing. “For the first time in history, a President of the Nation was investigated with complete freedom, which resulted in absolute proof of his innocence,” reads a publication shared on X by the official presidential office. “The question that remains is this: Who will take responsibility for having wasted the money of Argentine taxpayers and the time of the President of the Nation in a failed attempt at an institutional coup?” TrumpMilei is one of US President Donald Trump’s closest allies. Trump strongly endorsed him a year ago and called him his “favorite president.” Trump made it clear that support depended on a victory for Milei’s party. “I am with this man because his philosophy is correct,” he said before a White House lunch with the Argentine leader last year. “If he wins, we’ll stay with him. And if he doesn’t win, we’ll leave.” The measures were intended to combat high inflation, which has fallen to around 2 percent monthly. Milei says his plan is working, stating that Argentina has grown for 27 consecutive months and is expanding at four times its historical rate. When the currency collapsed, Milei said he had acted “in good faith” and accused his political rivals of trying to exploit the situation.
