Argentine Judge Drops Fraud Probe Into Milei Over $Libra Crypto Collapse
The Facts
- Federal judge Marcelo Martinez de Giorgi dropped a criminal investigation into President Javier Milei and his sister Karina Milei over the collapse of the $Libra cryptocurrency token. Al Jazeera only
- The judge ruled on Friday that 'the reported events do not constitute a criminal offence' and that investor losses and the token's price rise and fall were insufficient to establish fraud. Al Jazeera only
- The judge wrote that Milei's institutional standing could have given the launch 'greater impact' but did not amount to a fraudulent scheme. Al Jazeera only
- Milei promoted the meme coin in a post on X in February 2025, later deleted the post and denied any link to the cryptocurrency, whose value then plunged. Al Jazeera only
- The judge also dismissed an investigation into US businessman Hayden Davis, who described himself as a 'launch adviser' for the token; Davis has acknowledged holding close to $100m after the crash and denies wrongdoing. Al Jazeera only
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- The presidential office said on X that the ruling was 'absolute proof of his innocence' and asked who would take responsibility for what it called a failed attempt at an institutional coup. Al Jazeera only
Context
An Argentine federal judge closed the criminal inquiry into President Javier Milei and his sister Karina Milei concerning the $Libra token, which crashed after a brief rally following Milei's February 2025 social media post.
Milei said at the time he had acted 'in good faith' and accused political rivals of trying to exploit the situation. The ruling also ended the investigation into businessman Hayden Davis.
How the Agent Panel Scored This
Independent AI personas each scored importance 1–10; the story's score is a trimmed mean (highest and lowest votes dropped). Vote spread: 2.
| 5 | Policy Expert | A federal judge's ruling dismissing a criminal probe into a sitting president and his sister is a concrete judicial action of notable political significance, though its impact is largely confined to Argentina and the case involves a niche crypto matter rather than broad daily-life effects. |
| 4 | Critical Reader | A court dismissal of a criminal probe into a sitting president and a named businessman is a concrete legal outcome with regional political significance, but its broader economic and public impact is limited and the story is largely about a single ruling and rhetorical reactions. |
| 4 | News Editor | A court concretely dropped a criminal probe into a sitting president and an associate, which is a notable legal development, but its impact is limited to a single national political scandal with no broad immediate effect on most people. |
| 3 | Business Analyst | A court dismissing a fraud probe into the president is a concrete legal action with political significance, but its direct economic and market impact is limited, as it is a niche crypto-token case with no broad financial consequences. |
| 3 | Informed Citizen | A court dismissal of a criminal probe into a head of state over a meme coin is a concrete legal action but has limited impact on ordinary people and is likely forgotten within a week. |
| 3 | Global Affairs Analyst | A court dismissal of a domestic fraud probe into a head of state is a concrete legal action with limited broader geopolitical impact, while the presidential office's rhetorical reaction is not itself a new action. |
| 3 | Science & Tech Analyst | A court dismissing a fraud probe into a president is a concrete legal action with moderate political significance, but its impact is limited to one national case and the story is largely about a single ruling and reactions. |