Judge Ends Fraud Investigation into Argentina’s President Milei Over Cryptocurrency

An Argentinian federal judge has terminated a criminal investigation into President Javier Milei and his sister, Karina Milei, concerning the collapse of a cryptocurrency they were linked to. Judge Marcelo Martinez de Giorgi announced the decision, stating that the events associated with the $Libra token did not amount to a criminal offense.

The judge noted that while Milei’s influence could have increased the cryptocurrency’s visibility, this did not equate to fraud. He remarked, “the reported events do not constitute a criminal offence,” indicating that the losses suffered by investors did not prove any criminal deception.

The inquiry was prompted by Milei’s promotion of the little-known token in a social media post in February 2025. Although the post led to a brief surge in the token’s value, it quickly plummeted, causing significant losses for investors. Following the crash, Milei denied any intent to promote the token and claimed he acted in good faith.

Alongside Milei, the investigation into US businessman Hayden Davis, who claimed to be a launch advisor for the token, was also dismissed. Davis reportedly managed close to $100 million in assets after the token’s failure.

The presidential office celebrated the judge’s ruling, asserting it confirmed Milei’s innocence and questioned who would be accountable for the investigation’s financial impact on taxpayers. A statement shared on X, the platform formerly known as Twitter, declared, “For the first time in history, a President of the Nation was investigated with complete freedom, resulting in absolute proof of his innocence.”