Argentina drops Milei probe over $99M LIBRA meme coin scandal

Federal judge Marcelo Martínez de Giorgi dismissed Argentina’s criminal case against President Javier Milei and his sister, Karina Milei, over their alleged ties to the LIBRA meme coin, finding no proof of deceit or fraud and no indication the alleged conduct fit a specific legal category. The case followed Milei’s endorsement of LIBRA on X last year, which briefly lifted the token’s price; he deleted the post and distanced himself before it crashed. A Nansen report found 86% of LIBRA traders lost $251 million, while a smaller group made $180 million in profits. The token reached $4.55 just after launch and lost most of its value a week later.