ARGENTINE JUDGE DISMISSES INVESTIGATION INTO JAVIER MILEI OVER LIBRA

An Argentine federal judge has dismissed a criminal investigation into President Javier Milei and his sister Karina Milei over their links to the LIBRA cryptocurrency. Marcelo Martínez de Giorgi made the ruling after prosecutor Eduardo Taiano requested that the case be dropped. The judge said the reported events did not establish “criminally relevant deception”. He acknowledged that Milei’s position could have increased interest in LIBRA, but found insufficient evidence of a fraudulent scheme. Milei has denied direct involvement in the project.

The investigation followed a post Milei made on X on 14 February 2025, in which he shared a link to buy LIBRA and said the project would help fund small businesses and start-ups. The token’s price rose after the post, then fell sharply within hours. Milei deleted the post and said he had not known the project’s details when he shared it. “I didn't promote it, I merely shared it,” he told Todo Noticias. Investors reported losses after the price fell, and allegations of market manipulation followed.

The ruling also dismissed the investigation into Hayden Davis, a US businessman who described himself as an adviser to LIBRA’s launch. Davis acknowledged holding nearly $100 million following the token’s collapse. Blockchain researchers identified approximately $99 million withdrawn from LIBRA’s liquidity pools through eight wallets linked to its creator. Argentina’s fintech chamber raised concerns that the withdrawals could constitute a “rug pull”, in which developers attract buyers before withdrawing funds or selling their holdings. The presidential office said Milei had no role in developing LIBRA and announced that the Anti-Corruption Office would examine whether he had acted improperly.