Argentine Judge Dismisses Criminal Probe into President Milei Over LIBRA Memecoin
An Argentine federal judge has dismissed the criminal case against President Javier Milei and his sister Karina over their promotion of LIBRA, a memecoin that crashed after its launch in February 2025.
Intelligence analysis by Qwen 2.5 (3B)
An Argentine judge has dismissed the criminal probe into President Javier Milei and his sister Karina over their promotion of LIBRA, a memecoin that crashed after its launch in February 2025.
A judge said President Milei and his sister didn't do anything wrong by promoting a fake coin called LIBRA. The coin lost most of its value and people lost money, but the judge said Milei and his sister didn't cheat.
Analysis
{"heading_1":"LIBRA's Crash and Promotion","content_1":"LIBRA, a memecoin that was promoted by President Javier Milei and his sister Karina, crashed after its launch in February 2025. The token lost more than 95% of its value, leading to the destruction of over $250 million in investor wealth.","content_2":"Blockchain researchers found that eight wallets linked to the token's creator had withdrawn around $99 million in crypto. The judge found that Milei's endorsement could have given the launch 'greater impact,' but that the social media post and LIBRA's subsequent collapse were insufficient to establish fraud without evidence of a specific deception.","content_3":"The judge also found no evidence that Karina Milei sought or received money in exchange for access to the president, or that proceeds from LIBRA reached public officials. The case may not be fully closed, as the prosecutor Eduardo Taiano is not expected to appeal the dismissal."}
Key points
- LIBRA crashed after its launch in February 2025
- President Javier Milei and his sister Karina were cleared of fraud charges
- The judge found no evidence of specific deception in the case
The dismissal of the case could help clear Milei's name and improve his reputation, potentially leading to better public perception of LIBRA.
If the case had been allowed to proceed, it could have damaged Milei's reputation and potentially affected the perception of LIBRA among investors and the public.
