Argentina drops investigation into Milei over crypto fraud

A felony investigation into Argentine President Javier Milei and his sister’s hyperlinks to a cryptocurrency scandal has been dropped.

The case in opposition to Milei and his sister Karina Milei was dismissed by federal decide Marcelo Martinez de Giorgi on the request of prosecutors, court docket data present.

The Argentinian president had denied selling the newly launched cryptocoin $Libra , which collapsed shortly after he talked about it in a social media put up in February 2025.

He mentioned he had acted “in good religion” when the cryptocurrency rose in worth earlier than crashing and inflicting enormous losses for almost all of its traders. Milei is but to reply to information of the case being dropped.

Dismissing the case, the decide mentioned “the reported occasions don’t fall below a authorized class”, and concluded that no “criminally related deception” had been confirmed.

Accusations of fraud arose when Milei posted on X, previously Twitter, concerning the $Libra coin, which he mentioned on the time would assist fund small companies and start-ups.

The cryptocurrency’s worth subsequently shot up when the Argentine president shared a hyperlink to purchase it.

But, inside a couple of hours, he deleted his put up and the crypto nosedived in worth, shedding traders most of their cash.

It led opposition members of Congress to plan impeachment proceedings, whereas some on-line accused Milei of a “rug pull” – the place promoters of a cryptocurrency attract patrons, solely to cease buying and selling exercise and make off with the cash raised from gross sales.

The Argentinian president, although, insisted: “I did not advertise, I merely shared it” in an interview with native media Todo Noticias’.

The presidential workplace insisted that Milei was on no account concerned within the growth of $Libra and introduced that the Anti-Corruption Office would decide if the president had acted improperly.

Milei himself defended deleting his put up, saying that on the time he didn’t know “the small print of the venture and after studying about it, I made a decision to not proceed selling it”.

And, in a TV interview, he insisted that those that invested in $Libra had carried out so “voluntarily” and knew of the dangers.