Argentine court dismisses LIBRA meme coin case against Milei

An Argentine federal court has thrown out the criminal case against President Javier Milei over LIBRA, the meme coin he promoted on social media in February 2025 shortly before its price collapsed. The ruling, issued on Friday afternoon by Buenos Aires Federal Criminal and Correctional Court No. 8, also cleared his sister Karina Milei and other defendants, Bitcoin.com News reported citing Argentine media.

What the judge decided

Judge Marcelo Martínez de Giorgi acted on a request from federal prosecutor Eduardo Taiano, who concluded there was no conclusive evidence tying the defendants to the alleged crimes. The main points of the ruling, as reported:

• No fraud: the token was actually launched and on-chain data showed it working; buyers were not promised future profits, and losses in a volatile meme coin market are not enough on their own to prove a scam.
• No abuse of office: Milei shared information about the token as a private person, not through any official or administrative act.
• Other charges dropped: the court also dismissed allegations of incompatible negotiations and influence peddling, and found no evidence against Karina Milei, the presidency's secretary-general, who had been accused of taking money to arrange meetings with the president.

According to The Defiant, the dismissal covers Milei and ten other people, including Hayden Davis, whose firm Kelsier Ventures was behind the launch.

How LIBRA collapsed

What it means

With a New York class action against Kelsier Ventures and others also dismissed, the LIBRA affair now has no one held responsible in court for the losses, though a congressional commission had recommended investigating the president. Bitcoin.com says a trust created to hand more than $110 million from LIBRA sales to Argentine entrepreneurs as grants has yet to give details of any payouts. It is not yet clear whether the complainants will appeal.

The case is a textbook example of how meme coins tied to celebrities and politicians can spike and crash within hours. Our guide on how to spot crypto scams covers the warning signs, and the recent GTA 6 "DacityCoin" copycats show the pattern repeating.