An Argentinian federal judge has reportedly dropped a criminal investigation into President Javier Milei and his sister Karina Milei concerning the collapse of the $Libra cryptocurrency. Judge Marcelo Martinez de Giorgi issued the ruling, effectively terminating an inquiry into Milei's alleged involvement in the promotion of the token, which plummeted in value following a brief surge.

According to the judicial ruling, the investigated events supposedly do not constitute a criminal offense. The judge argued that investor losses and price volatility were insufficient to establish fraud, despite acknowledging that Milei's prominent institutional standing might have given the token's launch a wider reach. The controversial initiative gained attention after Milei recommended the meme coin on social media in early 2025 before subsequently deleting the post.

The legal proceedings also dismissed inquiries into US businessman Hayden Davis, who acted as a launch adviser for the digital asset. Davis reportedly acknowledged holding substantial funds following the market crash while denying any unlawful activity. The official presidential office later released a statement claiming that the investigation demonstrated the leader's innocence while questioning the rationale behind the initial inquiry.

Javier Milei, a close ally of the US political establishment, has continued to implement sweeping austerity measures since taking office, including significant state layoffs and public spending cuts. While the Argentinian regime claims these policies have successfully curbed inflation, critics argue that the administration's aggressive restructuring has inflicted severe economic pain on the population.

Source: www.aljazeera.com