Argentina drops investigation into President Milei over crypto fraud

Meanwhile, a criminal investigation into Argentine President Javier Milei and his sister's links to a cryptocurrency scandal has been dropped.

Key points

• The case against Milei and his sister Karina Milei was dismissed by federal judge Marcelo Martinez de Giorgi at the request of prosecutors, court records show.
• Accusations of fraud arose when Milei posted on X, formerly Twitter, regarding the $Libra coin.
• The Argentinian president, though, insisted: "I didn't promote it, I merely shared it" in an interview with local media Todo Noticias'.
• The Argentinian president had denied promoting the newly introduced cryptocoin $Libra.
• And, in a TV interview, he insisted that those who invested in $Libra had done so "voluntarily" and knew of the risks.

Meanwhile, the case against Milei and his sister Karina Milei was dismissed by federal judge Marcelo Martinez de Giorgi at the request of prosecutors, court records show.

For context, the Argentinian president had denied promoting the newly introduced cryptocoin $Libra. It collapsed shortly after he mentioned it in a social media post in February 2025.

He remarked he had acted "in good faith" when the cryptocurrency rose in value before crashing and causing enormous losses for most of its investors. Milei is yet to respond to news of the case being dropped.

Dismissing the case, the judge remarked "the reported events do not fall under a legal category", and concluded that no "criminally relevant deception" had been proven.

Accusations of fraud arose when Milei posted on X, formerly Twitter, regarding the $Libra coin. It he stated at the time would support fund small businesses and start-ups.

In practice, the cryptocurrency's cost subsequently shot up when the Argentine president shared a link to purchase it.

But, within a few hours, he deleted his post and the crypto nosedived in value, losing investors most of their funds.

While some online accused Milei of a "rug pull" – where promoters of a cryptocurrency draw in buyers, only to stop trading activity and create off with the capital raised from sales, it led opposition members of Congress to plan impeachment proceedings.

Notably, the Argentinian president, though, insisted: "I didn't promote it, I merely shared it" in an interview with local media Todo Noticias'.

Notably, the presidential office insisted that Milei was in no way involved in the development of $Libra and confirmed that the Anti-Corruption Office would determine if the president had acted improperly.

Milei himself defended deleting his post, saying that at the time he did not know "the details of the project and after learning about it, I decided not to continue promoting it".

In short, argentina drops investigation into President Milei over crypto fraud is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.