Argentine Judge Dismisses Criminal Case Against Milei Over LIBRA Token

Argentine court drops criminal charges over LIBRA token

On October 23, an Argentine federal judge dismissed a criminal case against President Javier Milei and ten other individuals related to the LIBRA crypto token. The judge ruled that the actions investigated did not amount to a criminal offense. This decision clears all 11 people in the investigation, ending the specific criminal proceeding against them.

The case involved the launch and promotion of LIBRA, a token built on the Solana blockchain. Milei publicized the project in February 2025, which led to a spike in its price followed by a sharp drop. Investors had alleged fraud and corruption, prompting the criminal investigation.

Key details of the dismissal

• Judge Marcelo Martínez de Giorgi of Federal Criminal and Correctional Court No. 8 accepted the prosecutor's request to drop the case.
• The dismissed individuals include President Javier Milei, his sister Karina Milei, and Hayden Davis.
• The judge cited Article 336(3) of Argentina’s criminal procedure code, which applies when alleged acts are not considered crimes.
• The court found that while Milei's promotion increased the token's visibility, it did not prove criminal fraud or legal deception that caused investors to lose money.
• The ruling also found no evidence of abuse of authority or illicit exchange involving public officials.

Separate U.S. lawsuit also ended

Alongside the Argentine dismissal, a related class action lawsuit in New York was dismissed in September. U.S. District Judge Jennifer L. Rochon dismissed the investor complaint against Kelsier Labs, members of the Davis family, Benjamin Chow, and Meteora. The U.S. court had previously frozen approximately $58 million in assets linked to the token. In August 2025, the court dissolved the restraining order and denied investors' request to extend it. The Argentine ruling also noted a request to freeze about 44.6 million USDC in U.S. assets, but it did not order the distribution of these funds to investors.

What is confirmed by the ruling

The primary confirmation from the court is that the specific conduct under investigation in Argentina does not meet the legal definition of a criminal offense. The case is now to be archived once the decision becomes final. This legal conclusion applies to all named individuals in that proceeding. The dismissal is a formal legal step, not just a delay in the investigation.

Source

• The Defiant