Court dismisses $LIBRA case

Argentine federal court closed the $LIBRA cryptocurrency case on October 23, 2026, dismissing complaints against President Javier Milei and ten other suspects.

“It’s outrageous to use the Anti-Corruption Office’s report to validate something Milei did. The office answers to Milei”

Opposition and victims criticize ruling

The opposition and alleged victims condemned the dismissal, claiming it reflected an alleged exchange of favors between the government and judges investigating the case.

Prosecutor requests continued investigation

Another prosecutor specializing in government corruption cases asked the judge to allow the investigation to continue, arguing there was still evidence to examine.

Judge’s decision based on Anti-Corruption report

Judge Marcelo Martínez de Giorgi ended the investigation 10 days earlier after prosecutor Eduardo Taiano claimed there were no grounds to investigate a crime.

Victims challenge removal as plaintiffs

Alleged victims appealed their removal as plaintiffs, arguing they retained the status of pretensos querellantes until the courts ruled on the appeal.

Procuraduria challenges dismissal

The Administrative Investigations Office (PIA) challenged the dismissal of eleven suspects, arguing the investigation contained indications of a possible fraudulent scheme.

Prosecutor Sergio Rodríguez seeks to continue

Prosecutor Sergio Rodríguez requested to take over the investigation, listing outstanding measures including blockchain analysis and forensic examinations of cellphones.

Case details: $LIBRA launch

President Milei shared a 44-character smart contract address for $LIBRA on February 14, 2025, claiming it would fund small businesses in Argentina.

Token price surge and crash

The token’s price jumped from fractions of a cent to nearly $5 before plunging 40 minutes later, leaving thousands with losses.

Liquidity pull and accusations

The token’s creators pulled nearly $110 million in liquidity from the market, a maneuver known as a 'pump and dump', prompting accusations of a crypto scam.

Milei’s X account used personally

Milei maintained he used his X account in a personal capacity, not as head of state, according to the Anti-Corruption Office report.

Legal challenges to dismissal

Investors filed appeals after the judge removed them as plaintiffs, arguing they retained the status of pretensos querellantes until the courts ruled.

Prosecutor’s evidence of fraud

The case investigates whether $LIBRA was created to deceptively induce investments using the president’s promotion before collecting funds and fleeing.

Milei’s reaction to ruling

Milei lashed out at the media, spoke of a 'press operation', and threatened legal action against journalists he accused of defaming him.

“The sons of bitches should be burned at the stake”