Key facts
- President Milei and his sister Karina Milei were investigated for potential fraud related to the $LIBRA cryptocurrency.
- The case was dismissed by federal judge Marcelo Martinez de Giorgi at the request of prosecutors.
- Milei had promoted the $LIBRA coin on social media before deleting his post.
- Prosecutors concluded that no criminally relevant deception had been proven.
A criminal investigation into Argentine President Javier Milei and his sister, Karina Milei, regarding a meme coin scandal has been dropped, according to court records. Federal judge Marcelo Martinez de Giorgi issued the order after prosecutor Eduardo Taiano requested the dismissal. The probe, initiated in February 2025, focused on potential fraud surrounding the launch of the $LIBRA cryptocurrency, which President Milei had promoted on X before deleting the post and denying any connection. At the time of the coin's crash, Milei stated he acted in good faith and accused political rivals of exploiting the situation. Materials gathered in the investigation included leaked phone messages and draft contracts, with investigators examining communications involving Milei, his sister, and other close advisers. One document outlined an alleged $5 million arrangement tied to the cryptocurrency's launch and endorsements.