Judge Clears Javier Milei in Crypto Fraud Investigation
An Argentinian federal judge dropped a criminal fraud investigation into President Javier Milei and his sister Karina Milei on Friday, October 24, 2026, ending an inquiry into their roles in the launch and subsequent collapse of the promoted cryptocurrency token $Libra.
Judge Martinez de Giorgi Dismisses the $Libra Investigation
Federal Judge Marcelo Martinez de Giorgi ruled that the reported events did not constitute a criminal offence. Court records show the judge concluded that investor losses and the fluctuations in the currency’s price were insufficient to establish fraud.
The reported events do not constitute a criminal offence, Judge Martinez de Giorgi wrote in his ruling.
“The reported events do not constitute a criminal offence,” the judge said in a ruling.
Argentine Judge Drops LIBRA Criminal Probe Against President Milei and Hayden Davis According to Reuters, Argentine federal judge Marcelo Martínez de Giorgi has dropped the criminal investigation into President Javier Milei, his sister Karina Milei, and U.S. businessman Hayden… pic.twitter.com/LxME8TuBuM
The inquiry initially targeted Javier Milei’s involvement after he posted about the little-known meme coin on X in February 2025. The cryptocurrency experienced a brief rally before crashing in value. Milei subsequently deleted the post and denied any link to the token.
Alongside the President and his sister, the court dismissed the investigation into US businessman Hayden Davis. Davis had identified himself as a launch adviser for the $Libra token and acknowledged holding close to $100 million after the crash. He denied any wrongdoing throughout the proceedings.
The Presidential Office Responds to the Ruling
Following the decision, the official presidential office published a statement on X celebrating the outcome.
For the first time in history, a President of the Nation was investigated with complete freedom, resulting in absolute proof of his innocence, the presidential office posted on X.
“For the first time in history, a President of the Nation was investigated with complete freedom, resulting in absolute proof of his innocence,” read a post shared on X by the official presidential office.
🇦🇷 UPDATE: An Argentine judge dismissed the investigation into President Javier Milei and his sister’s links to the $LIBRA cryptocurrency scandal at prosecutors’ request. pic.twitter.com/Pa52lG5CV8
The statement questioned who would take responsibility for wasting Argentinian taxpayers’ money and the president’s time during the inquiry.
Milei Implements Austerity Measures to Combat Inflation
The legal clearance arrives as Argentina faces economic and political instability. Since taking office in 2023, President Milei has implemented sweeping austerity measures. His administration has laid off thousands of state employees, shut ministries, cut subsidies, and reduced government-funded programs to combat high inflation, which has since fallen to about two percent a month.
Milei maintains that his economic plan is working, claiming the country has recorded 27 consecutive months of economic growth at four times its historical rate. Internationally, Milei remains a close ally of US President Donald Trump. Trump publicly backed the Argentinian leader ahead of a White House lunch last year, calling him his favorite president and stating his support hinged on Milei’s political success.
When the $Libra coin crashed, Milei stated that he had acted in good faith while accusing political rivals of attempting to exploit the situation.
ARGENTINE JUDGE DISMISSES LIBRA CRIMINAL CASE AGAINST ALL 11 INVESTIGATED, INCLUDING MILEIThe court ruled the conduct did not constitute a criminal offense. Proceedings will be archived once the decision is final.Read more here:https://t.co/zJZQW8BrE3