President Javier Milei’s position in cryptocurrency launch doesn’t translate right into a fraudulent scheme, decide says.
Printed On 24 Oct 2026
An Argentinian federal decide has dropped a felony investigation into President Javier Milei and his sister Karina Milei over the collapse of a cryptocurrency he promoted on-line.
Decide Marcelo Martinez de Giorgi issued the choice on Friday, in response to courtroom information, ending an inquiry into Milei’s position within the launch of the $Libra token, which crashed after a short rally.
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“The reported occasions don’t represent a felony offence,” the decide mentioned in a ruling. He additionally wrote that investor losses and the rise and fall within the forex’s worth have been inadequate to ascertain fraud.
In his ruling, Martinez de Giorgi mentioned that Milei’s institutional standing might have given the launch “higher impression” when he posted about it, however that doesn’t translate right into a fraudulent scheme.
Javier Milei really useful the little-known meme coin in a put up on X in February 2025. He later deleted the put up and denied any hyperlink to the cryptocurrency, whose worth quickly plunged.
The decide additionally dismissed an investigation into US businessman Hayden Davis, who described himself as a “launch adviser” for the token. Davis has acknowledged that he held near $100m after the crash and denies any wrongdoing.
“For the primary time in historical past, a President of the Nation was investigated with full freedom, leading to absolute proof of his innocence,” learn a put up shared on X by the official presidential workplace.
“The query that is still is that this: Who will take accountability for having wasted Argentine taxpayers’ cash and the President of the Nation’s time in a failed try at an institutional coup?”
Milei’s friendship with Trump
Milei is considered one of US President Donald Trump’s closest allies. Trump firmly backed him a yr in the past and has referred to as him his “favorite president”.
Trump made clear the help hinged on a victory for Milei’s social gathering.
“I’m with this man as a result of his philosophy is appropriate,” he mentioned forward of a White Home lunch with the Argentinian chief final yr. “If he wins, we’re staying with him. And if he doesn’t win, we’re gone.”
Earlier this month, Milei urged Trump to emerge stronger from the US midterm elections, saying the vote mattered for the West as a complete.
Austerity at dwelling
Since taking workplace in 2023, Milei has laid off thousands of state employees, shut ministries, minimize subsidies and diminished government-funded programmes. The measures have been meant to struggle excessive inflation, which has fallen to about 2 % a month.
Milei says his plan is working, claiming that Argentina has grown for 27 consecutive months and is increasing at 4 occasions its historic price.
When the coin crashed, Milei mentioned he had acted “in good religion” and accused his political rivals of attempting to take advantage of the state of affairs.
