Argentine Judge Dismisses Criminal Case Over LIBRA Token Collapse

An Argentine federal judge dismissed the criminal investigation into President Javier Milei and 10 others over the LIBRA token collapse, leaving buyers without a compensation outcome in the ruling.

Judge Marcelo Martinez de Giorgi accepted prosecutor Eduardo Taiano’s request to dismiss the case. He ruled that the conduct did not establish a criminal offense under Argentine law. The investigation covered Milei, his sister, Secretary General Karina Milei, and nine others.

The judge cited insufficient proof of legally defined fraudulent deception. The ruling said the token had been issued, its transactions could be traced on-chain and no fixed return had been promised. It also found insufficient evidence that Karina Milei received money tied to the project.

LIBRA’s market capitalization briefly reached about $4.6 billion before falling more than 90%. Loss estimates put the total at $251 million across about 114,000 wallets, with about 86% of traders losing money.

U.S. District Judge Jennifer L. Rochon dismissed a separate class action Oct. 2 against Kelsier Ventures, decentralized finance platform Meteora and developer Benjamin Chow, rejecting the plaintiffs’ request to amend their complaint. Neither court decision provided a compensation award for LIBRA buyers.