Argentina Ends Probe Into Milei Over Crypto Scandal
WHO:
Al Jazeera - Federal Judge Marcelo Martinez de Giorgi dismissed the investigation into Milei’s sister, Karina Milei, and US businessman Hayden Davis.
BBC - Javier Milei, identified as Argentina’s president, was the subject of the investigation.
BBC News - Javier Milei denied acting fraudulently in connection with the cryptocurrency.
WHAT:
Al Jazeera - The judge ruled, “The reported events do not constitute a criminal offence,” and said investor losses and the token’s price rise and fall were insufficient to establish fraud.
Al Jazeera - The presidential office posted on X that the investigation provided “absolute proof of his innocence” and questioned who would take responsibility for the inquiry’s costs and the president’s time.
Al Jazeera - Davis said he held close to $100m after the crash and denied wrongdoing.
Al Jazeera - Milei’s government has laid off thousands of state employees, shut ministries, cut subsidies, and reduced government-funded programs.
BBC - Argentina dropped its investigation into Milei over alleged cryptocurrency fraud.
BBC - Milei said he had acted “in good faith.”
BBC News - Milei deleted a social media post about the cryptocurrency.
BBC - Milei had not yet responded to news that the case was dropped.
WHY:
Al Jazeera - The judge said Milei’s institutional standing may have given the token launch “greater impact,” but did not make it a fraudulent scheme.
BBC - The cryptocurrency rose in value and then crashed, causing huge losses for the majority of its investors.
BBC News - The cryptocurrency nosedived after Milei deleted his social media post about it.
HOW:
Al Jazeera - The inquiry concerned Milei’s role in launching the $Libra token, which he recommended in a post on X.
BBC - The reported losses followed the cryptocurrency’s rise in value and subsequent crash.
BBC News - The reported cryptocurrency decline followed Milei’s deletion of a social media post about it.
(UPDATED October 24, 2026 07:11 UTC)
An Argentine federal judge has dismissed the investigation into President Javier Milei’s role in promoting the $Libra cryptocurrency, as well as inquiries involving his sister, Karina Milei, and US businessman Hayden Davis. The judge ruled that the reported events did not constitute a crime, saying investor losses and the token’s sharp rise and fall were not enough to prove fraud. Milei had recommended the token in a post on X, which he later deleted; its value plunged afterward, leaving many investors with major losses. He denied acting fraudulently and said he had acted in good faith. Davis also denied wrongdoing and said he held close to $100 million after the crash. The presidential office called the ruling proof of Milei’s innocence and questioned who would pay for the inquiry. The case unfolded as Milei’s government cut public jobs, ministries, subsidies and programs.
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(UPDATED October 24, 2026 01:28 UTC)
Argentina has dropped its investigation into President Javier Milei over alleged fraud connected to a cryptocurrency that surged in value before crashing. The collapse left most investors facing substantial losses. Milei denied acting fraudulently and said he had acted “in good faith.” He had promoted the cryptocurrency in a social media post, then deleted the post. The cryptocurrency nosedived after that deletion, according to the reported sequence of events. Its sharp rise and subsequent crash caused heavy losses for the majority of investors. The investigation focused on Milei’s connection to the cryptocurrency and the losses that followed its collapse. Milei had not yet responded to news that Argentina had dropped the case.