The Argentine Federal Court has dismissed the criminal case involving President Javier Milei, his sister Karina, and nine other individuals regarding the LIBRA memecoin. Judge Marcelo Martinez de Giorgi issued the ruling on October 23, 2025, following a request from prosecutor Eduardo Taiano.
The investigation began after a February 14, 2025, post by Milei on X promoting the token. Following the post, the coin's value surged before dropping by over 90%. Chainalysis reported that eight wallets linked to the project's creators withdrew approximately $99 million in USDC and Solana from liquidity pools.
The court concluded that there was no evidence of a fraudulent scheme or the misuse of state resources. Judge Martinez de Giorgi noted that while the president's public support may have influenced investors, it did not constitute a criminal act. The investigation into potential illegal payments to Karina Milei also yielded no evidence.
The case was closed before all investigative steps were completed, citing a lack of technical tools and incomplete responses from companies. Additionally, a federal court in New York dismissed a separate class-action lawsuit against Hayden Davis and Kelsier Labs on September 29, 2025, citing insufficient grounds and lack of jurisdiction.
