Argentine Judge Clears President Milei in LIBRA Crypto Case
Dismissal of LIBRA fraud case
An Argentine federal judge dismissed the criminal case against President Javier Milei and ten other individuals regarding the promotion of the LIBRA cryptocurrency. The ruling was issued by Judge Marcelo Martínez de Giorgi on Friday, October 24, 2026.
The decision concludes that the actions investigated do not fit the legal definition of a criminal offense. The judge cleared Milei, his sister Karina Milei (Secretary General of the Presidency), Hayden Davis (described as a launch adviser for LIBRA), and eight others, including crypto lobbyist Mauricio Novelli and Julian Peh of KIP Protocol.
Key findings from the ruling
- The 60-page ruling states that promoting an asset, even by a prominent figure, does not inherently constitute a fraudulent scheme.
- Prosecutor Eduardo Taiano had requested the dismissal of the case, and no formal statements were taken from the suspects.
- Forensic analysis could not confirm that a specific note regarding payments was sent to any individual.
Context of the LIBRA token crash
President Milei posted about the LIBRA token on X (formerly Twitter) on the evening of February 14, 2025. The post was made before the token's value spiked, and it was deleted shortly after the price crashed. On-chain analysts reported that eight wallets associated with the team withdrew $107 million during the event. The token's market capitalization reached $4.5 billion before falling by approximately 95% within hours.
Political reaction and appeals
President Milei publicly welcomed the ruling, describing the legal case as a political operation aimed at damaging the presidential office. In contrast, opposition figures, including Deputy Maximiliano Ferraro, argued the ruling represents a judicial cover-up. Ferraro noted that a congressional commission previously found that Milei provided "essential collaboration" to the LIBRA project.
Five investors who were removed from the case in July are currently petitioning the Federal Criminal Cassation Court to be reinstated as plaintiffs. If successful, this would allow them to appeal the dismissal of the criminal case. Prosecutor Taiano is not expected to appeal the decision.
Conflicting accounts and evidence gaps
The judge noted that while deleted chats and call records between Milei and Novelli were found, their content could not be determined. Additionally, a disciplinary investigation found that an employee of the prosecutors' forensic unit improperly accessed case files, some of which leaked to the press. The ruling does not mention the report from the congressional commission that alleged collaboration between Milei and the LIBRA team.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.