Argentine judge dismisses criminal case against Milei over LIBRA memecoin

On October 23, 2026, Argentine Federal Judge Marcelo Martínez de Giorgi dismissed a criminal fraud investigation into President Javier Milei, his sister Karina Milei, and U.S. adviser Hayden Davis over the February 2025 collapse of the LIBRA memecoin. The court found insufficient evidence of a fraudulent scheme, ruling that Milei's promotional post on X did not constitute fraud despite $99 million being withdrawn from liquidity pools.

Dismissal of criminal case against Javier Milei

• ▪On October 23, 2026, Argentine Federal Judge Marcelo Martínez de Giorgi dismissed the criminal fraud investigation against Argentine President Javier Milei over the February 2025 LIBRA memecoin collapse, officially closing proceedings without reversing investor financial losses
• ▪Argentine Prosecutor Eduardo Taiano formally requested the dismissal of the criminal fraud investigation into President Javier Milei's promotion of the LIBRA memecoin

Rulings and statements on launch advisers

• ▪The October 23, 2026 court decision dismissed criminal fraud investigations against U.S. launch adviser Hayden Davis, as well as associates Mauricio Novelli and Manuel Terrones Godoy
• ▪U.S. businessman Hayden Davis acknowledged holding nearly $100 million following LIBRA's collapse but denied any criminal wrongdoing in connection with the LIBRA token launch

Javier Milei's promotion and response

• ▪Argentine President Javier Milei deleted his X post promoting LIBRA shortly after sharing it, denying direct ties or detailed knowledge of the LIBRA cryptocurrency project
• ▪Argentine President Javier Milei stated he acted in good faith when sharing LIBRA and accused political rivals of attempting to exploit LIBRA's token collapse
• ▪On February 14, 2025, Argentine President Javier Milei promoted the LIBRA memecoin in a post on X, triggering a rapid increase in the token's market price

Collapse and suspected rug pull of LIBRA

• ▪Blockchain researchers identified approximately $99 million withdrawn from LIBRA liquidity pools through eight digital wallets linked to the cryptocurrency's creator
• ▪Argentina's fintech chamber raised concerns that the sudden February 2025 LIBRA cryptocurrency collapse could constitute a rug pull scam targeting crypto investors
• ▪Following Argentine President Javier Milei's February 14, 2025 X post, the LIBRA memecoin experienced a sharp price surge followed by a complete collapse within hours

Argentine LIBRA criminal investigation

• ▪Federal Judge Marcelo Martínez de Giorgi cleared Karina Milei, General Secretary of the Presidency of Argentina, finding no evidence she received payments to arrange meetings for LIBRA creators
• ▪Argentine law enforcement authorities initiated a criminal investigation to examine potential fraud and the involvement of individuals associated with the February 2025 LIBRA memecoin launch