Federal Judge Marcelo Martinez de Giorgi has officially dismissed a criminal investigation into President Javier Milei and his sister, Karina Milei, regarding their alleged ties to a cryptocurrency scandal. The decision came at the request of prosecutors who determined that the actions in question did not constitute a crime. In his ruling, the judge noted that there was no evidence of criminally relevant deception and stated that the reported events simply did not fit into any established legal category of fraud.
The controversy began in February 2025 when President Milei used X, formerly known as Twitter, to share a link for a new digital asset called Libra. He suggested at the time that the coin could serve as a tool to fund startups and small businesses. This endorsement caused the token’s value to skyrocket almost instantly, but the momentum shifted violently when the president deleted the post just hours later. The resulting crash wiped out most of the investments made by people who followed his lead, leading critics to accuse him of orchestrating a rug pull.
Throughout the ordeal, Milei maintained that he acted in good faith and denied actively promoting the currency, claiming he had merely shared information about it. During interviews with local media outlets like Todo Noticias, he argued that investors took voluntary risks common to the volatile crypto market. He further explained that once he became aware of certain details regarding the project’s inner workings, he chose to remove his post rather than continue supporting it.
While opposition leaders in Congress had previously floated the idea of impeachment proceedings following the collapse of Libra, this judicial dismissal effectively shuts down those legal avenues. The presidential office had consistently insisted that Milei played no part in developing the coin and deferred to anti corruption officials during the probe. While the president has not yet issued a formal statement since the case was closed, the ruling provides significant political relief amid ongoing economic instability in Argentina.