An Argentinian federal judge has concluded the investigation into President Javier Milei and his sister, Karina Milei, concerning the collapse of a cryptocurrency initiative they endorsed.
Judge Marcelo Martinez de Giorgi announced the decision on October 24, 2026, indicating that the evidence did not substantiate any criminal activity related to the promotion of the $Libra token, which experienced a significant drop in value shortly after its launch. The judge’s ruling highlighted that the fluctuating nature of cryptocurrency values, alongside the financial losses reported by investors, did not meet the legal thresholds necessary to establish a case of fraud.
In his ruling, Judge Martinez de Giorgi acknowledged that President Milei’s prominent position may have heightened the visibility of the cryptocurrency launch, particularly through his promotional post on social media platform X in February 2025. However, he confirmed that such exposure does not equate to fraudulent behavior. This determination reflects a careful examination of the circumstances surrounding the cryptocurrency rather than a knee-jerk reaction to the volatile nature of digital assets.
Following the publication of the judge’s decision, the presidential office issued a statement on X proclaiming, “For the first time in history, a President of the Nation was investigated with complete freedom, resulting in absolute proof of his innocence.” The statement raised questions regarding responsibility for the investigation, emphasizing concerns over proper use of public resources and the implications for political discourse in Argentina.
In a related matter, the investigation into Hayden Davis, an American businessman who acted as a launch adviser for the token, was also dismissed. Davis had reported that he retained almost 0 million following the cryptocurrency’s collapse, denying any involvement in wrongdoing.
Milei, known for his close relationship with former U.S. President Donald Trump, continues to face challenges within Argentina. Since assuming office in 2023, he enacted strict austerity measures aimed at curtailing high inflation, which has reportedly decreased to approximately 2% monthly. Supporters argue that these measures have led to significant economic growth, with Argentina experiencing expansion for 27 consecutive months.
Despite his controversial strategies, Milei insists he has operated with integrity, asserting that his political opponents are misusing the situation for their gain. The ongoing dialogue surrounding his administration highlights the complex interplay between governance, economic stability, and the evolving relationship between Argentina and international figures.
As Argentina moves forward, the implications of this ruling and the president’s economic policies continue to capture public attention, reflecting a nation navigating through a turbulent political landscape.
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