Judge closes $Libra inquiry involving Argentina's Milei and sister

A federal judge in Argentina has closed the criminal case examining President Javier Milei and his sister Karina Milei over the $Libra cryptocurrency.

Judge Marcelo Martinez de Giorgi issued the dismissal after prosecutors asked that the matter be terminated. In his decision, the judge wrote that "the reported events do not fall under a legal category" and that no "criminally relevant deception" had been established.

The case traced back to February 2025, when Milei posted on X about $Libra and said the coin would fund small businesses and start-ups. He included a purchase link, and the price climbed. Within hours he removed the post, and the coin's value fell. Investors who bought in lost most of their money.

Members of the opposition in Congress then drew up impeachment proceedings. Online critics labeled the episode a "rug pull," a scheme in which promoters bring in buyers, halt trading, and keep the proceeds. The presidential office has said Milei took no part in building $Libra and said at the time that the Anti-Corruption Office would look into whether he acted improperly.

Milei has denied wrongdoing. Speaking to Todo Noticias, he said, "I didn't promote it, I merely shared it," and said he acted "in good faith" as the coin rose. He said he deleted the post because he did not know "the details of the project and after learning about it, I decided not to continue promoting it." In a television interview, he added that people bought $Libra "voluntarily" and understood the risks.

At the time of the ruling, Milei had not commented on the dismissal.