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<\/a><\/p>\nPublished On 24 Oct 202624 Oct 2026<\/p>\n
An Argentinian federal judge has dropped a criminal investigation into President Javier Milei and his sister Karina Milei over the collapse of a cryptocurrency he promoted online.<\/p>\n
Judge Marcelo Martinez de Giorgi issued the decision on Friday, according to court records, ending an inquiry into Milei\u2019s role in the launch of the $Libra token, which crashed after a brief rally.<\/p>\n
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\u201cThe reported events do not constitute a criminal offence,\u201d the judge said in a ruling. He also wrote that investor losses and the rise and fall in the currency\u2019s price were insufficient to establish fraud.<\/p>\n
In his ruling, Martinez de Giorgi said that Milei\u2019s institutional standing could have given the launch \u201cgreater impact\u201d when he posted about it, but that does not translate into a fraudulent scheme.<\/p>\n
Javier Milei recommended the little-known meme coin in a post on X in February 2025. He later deleted the post and denied any link to the cryptocurrency, whose value soon plunged.<\/p>\n
The judge also dismissed an investigation into US businessman Hayden Davis, who described himself as a \u201claunch adviser\u201d for the token. Davis has acknowledged that he held close to $100m after the crash and denies any wrongdoing.<\/p>\n
\u201cFor the first time in history, a President of the Nation was investigated with complete freedom, resulting in absolute proof of his innocence,\u201d read a post shared on X by the official presidential office.<\/p>\n
\u201cThe question that remains is this: Who will take responsibility for having wasted Argentine taxpayers\u2019 money and the President of the Nation\u2019s time in a failed attempt at an institutional coup?\u201d<\/p>\n
Milei\u2019s friendship with Trump<\/p>\n
Milei is one of US President Donald Trump\u2019s closest allies. Trump firmly backed him a year ago and has called him his \u201cfavourite president\u201d.<\/p>\n
Trump made clear the support hinged on a victory for Milei\u2019s party.<\/p>\n
\u201cI\u2019m with this man because his philosophy is correct,\u201d he said ahead of a White House lunch with the Argentinian leader last year. \u201cIf he wins, we\u2019re staying with him. And if he doesn\u2019t win, we\u2019re gone.\u201d<\/p>\n
Earlier this month, Milei urged Trump to emerge stronger<\/a> from the US midterm elections, saying the vote mattered for the West as a whole.<\/p>\n Austerity at home<\/p>\n