Hardware Ready Ready to Bench?
On October 23, Argentine federal judge Marcelo Martínez de Giorgi dropped the criminal case against President Javier Milei, his sister Karina Milei, and nine other defendants regarding the LIBRA memecoin. The decision, contained in a 60-page document, establishes that the facts do not constitute any crime. CoinDesk reported the news with a date of October 24, 2026, while Unchained placed the event on October 23 based on temporal references to 2025; sources diverge on the exact date but agree on the outcome of the dismissal.
The judge rejected the charges of abuse of authority and transactions incompatible with public office brought against Javier Milei. Regarding Karina Milei, the judicial authority determined that there was no evidence of a concrete illicit exchange nor of her role as a paid intermediary to guarantee access to her brother. Federal prosecutor Eduardo Taiano had already requested the dismissal, arguing that the documentation did not demonstrate any criminally relevant fraud.
Why it matters
The closure of the case eliminates a significant legal risk for the Argentine president in relation to his public exposure in the cryptocurrency sector. Although Milei stated he had no ties to the project and removed promotional posts, the media attention generated by his support attracted interest in the token. The decision clarifies that the promotion of a digital asset by a political figure, in the absence of evidence of specific fraud, is not automatically configurable as a criminal offense under Argentine law.
The numbers
According to data reported by Unchained, the LIBRA token reached a maximum market capitalization of $4.56 billion. The token’s value crashed 94% within 11 hours of its debut. Additionally, Circle froze $57 million in USDC linked to the case. CoinDesk did not report specific figures, limiting itself to describing the closure of the investigation.
What remains to be understood
It was not possible to confirm the outcome of the request for readmission by investors to the federal criminal court of cassation, filed on September 16. Furthermore, it is currently unknown whether there will be appeals against the judge’s decision. The decision had not been published on the official judiciary website as of Friday evening, according to Unchained.
This article is for informational purposes only and does not constitute financial advice or an investment recommendation.
* Content created with the assistance of artificial intelligence systems.