In brief
A federal judge in Argentina has dismissed the investigation into President Javier Milei and his sister for alleged involvement in a cryptocurrency scam. The case focused on Milei’s brief endorsement of the $Libra token on X, which saw a sudden spike in value before crashing, wiping out many investors. In the wake of the drop, opposition lawmakers considered impeachment, while public sentiment split over whether Milei had misled the public. The president remains silent on the latest court decision, but his office says the Anti‑Corruption Office will further review whether any misconduct occurred.
A criminal investigation into Argentine President Javier Milei and his sister was dropped at the request of prosecutors, the judge announced Friday.
The case had centered on Milei’s brief promotion of the fledgling cryptocurrency $Libra on X, the platform formerly known as Twitter. Two months before the court decision, the president’s tweet sent the token’s price shot up, only to plummet within hours after he deleted the post and pulled back his endorsement.
Investors who bought in during the brief surge suffered major losses, fueling accusations that Milei had orchestrated a “rug pull.” Opposition members of Congress moved to impeach the president, while supporters argued the crypto venture was beyond his control.
Milei has repeatedly insisted that he merely “shared” the link and had no role in the launch of $Libra. He stated that investors voluntarily accepted the risks associated with the token. The president’s office has called for the Anti‑Corruption Office to investigate whether any improper conduct occurred.
The judge ruled that the alleged actions did not fall under any legal category of fraud and that no criminal deception was proven. Milei has not yet responded to the dismissal of the case, leaving the political future of the Argentine leader unclear.
