Argentine Judge Drops LIBRA Memecoin Case Against President Milei

An Argentine federal judge on Thursday dismissed the criminal case against President Javier Milei, his sister Karina Milei and nine others over the LIBRA memecoin, 20 months after the token's collapse.

Judge Marcelo Martínez de Giorgi acted at the request of prosecutor Eduardo Taiano, BBC News and Infobae reported. The judge wrote that "the reported events do not fall under a legal category" and that no "criminally relevant deception" had been proven, BBC News reported.

The dismissal covers 11 people, including U.S. promoter Hayden Davis, Unchained and Perfil reported. None of them was formally questioned during the probe, Perfil reported.

What the case was about

Milei promoted LIBRA in an X post on Feb. 14, 2025, saying it would help fund small businesses. The token's price jumped and then collapsed within hours after he deleted the post. Complaints filed in the case alleged a small group of wallets pulled out about $100 million, according to Infobae and Perfil.

Milei has denied wrongdoing. He said he acted "in good faith" and that he "merely shared" the project, BBC News reported. The presidency welcomed the ruling in an official statement on Thursday.

Not fully closed

Investors who lost money were removed as plaintiffs in July, a decision upheld in September. They have taken that issue to Argentina's criminal cassation court, where it is still pending, Infobae reported.

A U.S. federal judge in New York separately dismissed an investor lawsuit tied to LIBRA on Sept. 29, according to Unchained.