$LIBRA case: Argentine justice dismisses case for Milei

Home » Crypto news » Altcoins news » $LIBRA case: Argentine justice dismisses case for Milei

https://cryptoast.fr/affaires-libra-non-lieu-javier-milei-justice-argentine/

Argentine justice closes the $LIBRA case. A federal judge has dismissed the case for President Javier Milei, targeted by an investigation for alleged fraud after the promotion of this cryptocurrency on X in February 2025. This decision closes one of the most delicate episodes of his mandate.

🔍 Discover our top 10 best cryptocurrency exchange platforms

Federal judge Marcelo Martínez de Giorgi followed the prosecution's requisitions, for whom “the facts denounced do not correspond to any criminal qualification”.

The decision also applies to Karina Milei, secretary general of the presidency, and 9 other people. Among them are the American Hayden Davis, one of the promoters of the token, and an Argentinian crypto lobbyist. None of them were interviewed.

The magistrate admits that the function of Javier Milei could have given the launch “a greater impact”. These circumstances “do not in themselves constitute a fraudulent scheme,” he wrote. For Karina Milei, who brought crypto entrepreneurs closer to the presidency, she rules out influence peddling, because “facilitating a contact or contributing to the organization of a meeting does not, in itself, amount to selling one's influence”.

In February 2025, Javier Milei relayed on X the launch of the memecoin $LIBRA, a speculative cryptocurrency driven by the trend. The project was to finance Argentinian tech SMEs. The price soared, then collapsed after the message was deleted a few hours later.

👉 On the same subject – Only 3% of memecoins ever regain their ATH, according to this study

According to a parliamentary commission of inquiry, more than 114,000 wallets lost money, up to $100,000 for some. A handful of investors made more than $1 million each.

Blockchain analysts have estimated the funds withdrawn by 8 wallets linked to the token creator to be around $99 million. The Argentine chamber of fintechs had mentioned a rug pull, when the creators of a token increase its price before reselling massively. Hayden Davis admitted to controlling nearly $100 million after the fall, while denying any impropriety.

The president has always claimed to have acted “in good faith”, explaining that he did not know the details of the project. The controversy had weakened him before the mid-term legislative elections in October 2025, which he finally won.

👉 On the same subject – Up to $5 million to tweet about LIBRA? Javier Milei is implicated by new revelations

Machine-translated from French