Argentine President Javier Milei and His Sister Acquitted in Libra Meme Coin Legal Case

In a legal development issued on a Friday afternoon, a federal court in Buenos Aires has officially dismissed all charges against Argentine President Javier Milei, his sister Karina Milei, and several other co-defendants. The ruling brings a significant close to a high-profile controversy surrounding the launch of the Viva La Libertad Project, commonly known as the Libra meme coin, which was initially introduced in February 2025 with the stated aim of supporting small Argentine entrepreneurs.

The decision was handed down by the Buenos Aires National Criminal and Correctional Federal Court No. 8 following a formal petition from public prosecutor Eduardo Taiano. According to the court’s findings, investigators were unable to uncover conclusive evidence linking President Milei or any of the other defendants to the criminal activities alleged by the complainants. The dismissal effectively clears the country’s highest leadership of any wrongdoing associated with the rapid market collapse of the digital token shortly after its initial public debut.

Federal Judge Marcelo Martinez de Giorgi ruled that the foundational elements of a financial scam or fraud were absent in this case. The court noted that the Libra token was indeed successfully launched and functioned as designed on the underlying blockchain network. Furthermore, the judicial review established that the project’s creators had never made explicit promises of guaranteed future financial profitability to buyers. The court specifically emphasized that experiencing financial losses within the notoriously volatile and speculative meme coin market does not, by itself, constitute sufficient legal proof that a fraudulent enterprise or criminal scam actually took place.

The legal scrutiny surrounding President Milei originated from his decision to promote the Libra token on his personal social media channels shortly after it went live. That endorsement triggered a massive wave of retail interest, but within hours of the initial promotional push, the token’s market price plummeted drastically. The sudden market crash left more than 40,000 retail investors nursing severe financial losses, with total estimated damages reaching nearly $110 million.

Regarding the presidential promotion of the digital asset, the federal court thoroughly examined whether Milei had abused his official powers. Investigators concluded that no crimes of abuse of authority had been committed. The court noted that the president shared the token information strictly on a personal basis and through his own private communication channels, without resorting to official institutional acts, administrative decrees, or governmental mechanisms.

In addition to addressing the promotion of the asset, the court systematically dismissed auxiliary allegations of incompatible negotiations and influence peddling. The judicial ruling underscored that prosecutors and complainants failed to produce any credible evidence against Karina Milei, who serves as the General Secretary of the Presidency of the Argentine Nation. She had faced specific accusations suggesting she had accepted financial compensation or gifts to secure preferential access and arrange private meetings with President Milei for individuals connected to the project. With the court finding no substantiation for these claims, all related allegations were thrown out.

This pivotal ruling in Argentina mirrors a nearly identical legal resolution that took place in the United States earlier in the month. In that separate international proceeding, a class-action lawsuit involving Racketeer Influenced and Corrupt Organizations (RICO) charges and other related legal claims against Kelsier Ventures and other associated defendants was formally dismissed by a U.S. federal judge. Together, these judicial decisions suggest that the legal fallout surrounding the Libra matter has effectively reached a definitive conclusion across both jurisdictions, leaving no officially recognized corporate or political entity legally responsible for the capital losses suffered during the token’s sudden market collapse.

Despite the closing of the criminal dockets and the exoneration of the political figures involved, the broader financial aftermath of the Libra project has seen alternative management strategies unfold. Back in May, an independent trust was established specifically to handle the residual capital generated from the initial Libra token sales. This independent entity was created with the mandate to distribute over $110 million back to Argentine business owners and entrepreneurs through a structured grants system, with the distribution process targeted for completion before November. To date, however, no further official announcements or detailed public reports have been released regarding the current status or final execution of this fund distribution.