An Argentine federal judge has dismissed the criminal case against President Javier Milei, his sister Karina and nine other defendants over the LIBRA cryptocurrency that collapsed after the president publicised it in February 2025.
Judge Marcelo Martínez de Giorgi accepted prosecutor Eduardo Taiano’s request to end the investigation on Friday, October 23. The decision found the conduct established in the case insufficient to support the criminal charges, according to reporting by the Buenos Aires Times.
The dismissal is a significant legal victory for Milei after a scandal that brought the risks of politically promoted tokens into Argentina’s national debate. It does not reimburse investors who lost money when the token fell.
A presidential post put the token in the spotlight
Milei shared LIBRA on social media on February 14, 2025, presenting the private project as a way to support Argentine businesses. Trading accelerated before the token’s price collapsed. He later removed the post and denied fraudulent conduct.
The president’s participation created an obvious question for investors: whether a public figure’s endorsement carried information or assurances beyond an ordinary promotion. The criminal case examined legal responsibility for the episode, rather than simply whether buying the token proved disastrous.
Those questions require different evidence. A sharp price decline establishes a loss for someone who bought higher and sold lower. Establishing fraud additionally requires evidence supporting the elements of the relevant offence, including the alleged deception and its connection to the transactions.
The ruling closes this case, subject to finality
The Buenos Aires Times reported that the judge ordered the file closed and archived once the decision becomes final. That qualification matters: an order dismissing proceedings and a decision that has completed every possible procedural step are different stages.
The outcome covers eleven defendants in this proceeding. It should not be read as a blanket statement about every claim, transaction or jurisdiction connected with LIBRA.
El País reported criticism from opposition politicians and people involved in pursuing the case, including objections to the handling of evidence. Those criticisms describe the dispute over the investigation; they do not alter the fact that the judge accepted the prosecution’s dismissal request.
A legal outcome leaves the investment losses unresolved
For token holders, a criminal decision and recovery of an investment are separate matters. A court can dismiss charges without restoring a token’s market price or creating a compensation fund. Any recovery would need its own legal basis, assets and distribution process.
The episode also illustrates the limits of treating public attention as a financial safeguard. A prominent person can bring buyers to a token without supplying reliable liquidity, enforceable redemption rights or protection against concentrated selling.
Readers assessing a token promotion need to distinguish the person attracting attention from the parties controlling issuance, liquidity and proceeds. The latest decision resolves the Argentine criminal case at this stage; it does not turn the original promotion into an investment guarantee.