Argentine Court Gives Verdict on Javier Milei and LIBRA Scandal

Federal judge Marcelo Martínez de Giorgi dismissed the case against 11 people, including Milei and his sister Karina, as requested by prosecutor Eduardo Taiano. The 60-page ruling stated that a promotion, a rally, and a crash do not prove fraud alone, and that an economic loss is not automatically a crime.

Promotion and Collapse

Milei promoted LIBRA on X on February 14, 2025. The token's market value briefly topped $4.5 billion before falling about 95% within hours. On-chain analysts found that eight wallets tied to the team cashed out $107 million.

Critics and Next Steps

Opposition deputy Maximiliano Ferraro called the decision a judicial cover-up, noting his congressional commission found in November 2025 that Milei provided essential collaboration to the project. Critics also questioned the July appointment of the judge's wife to a federal court, which Milei signed by decree.

The court has archived the case, but excluded plaintiffs have asked the Federal Cassation Court to reinstate them, which could reopen the door to an appeal.