Argentina drops investigation into President Milei over crypto fraud
A federal judge in Argentina has dismissed the criminal investigation into President Javier Milei and his sister, Karina, over their alleged links to the $Libra cryptocurrency scandal. The decision, made at prosecutors’ request, means the court found no proven criminal deception in the reported events.
The controversy began in February 2025, when Milei posted about the newly launched coin and shared a link to buy it, saying it could support small businesses and start-ups. Its price surged before collapsing within hours, leaving most investors with large losses; Milei denied promoting it, saying he had shared it in good faith and later deleted the post after learning more about the project.
In short
- Argentina’s court has dropped the case against Milei and his sister.
- $Libra rose after Milei’s post, then crashed within hours.
- The judge said criminal deception had not been proven.
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The case for
Supporters of the dismissal can argue that a criminal case should proceed only where evidence establishes the elements of an offence, not simply because a president’s post was followed by a market collapse. Milei said he shared the coin in good faith and removed the post after learning more, and the judge acted on prosecutors’ request; ending the inquiry respects due process if investigators found no provable deception.
The case against
Those who oppose the dismissal can argue that a president’s public endorsement and purchase link may have lent credibility to a coin whose price surged and then collapsed, causing substantial losses for investors. Given Milei’s position and the serious questions about the promotion, they may consider a fuller investigation important to establish what he and his sister knew and whether investors were misled, even if criminal guilt is not yet proven.
Explained simply
Javier Milei is Argentina’s president, and Karina Milei, his sister, is a senior political aide. The $Libra coin was a cryptocurrency launched in 2025, a type of digital asset whose price can rise or fall sharply.
Milei’s post about the coin drew attention to it, and its price rose before falling sharply, leaving many buyers with losses. The episode raised questions about the role of public figures in promoting financial products and about how cryptocurrency markets are regulated.
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