Argentina Dismisses LIBRA Memecoin Criminal Case
An Argentine federal judge dismissed the criminal case against President Javier Milei, his sister Karina Milei and nine others over the LIBRA memecoin, following prosecutors’ request. The judge found insufficient evidence of fraud, ruling that Milei’s public endorsement alone did not prove investors were deliberately misled. Investigators also faced problems verifying key phone records, while a leak of confidential case files weakened the evidence chain.
Milei promoted the Solana-based LIBRA token on 14 February 2025. Its market capitalisation briefly topped $4.5 billion before it fell about 95% within hours. On-chain analysis cited in the earlier report estimated that wallets linked to the project team withdrew about $107 million; more than 40,000 buyers reportedly lost money.
The dismissal ends this Argentine criminal case for now, but does not settle investor claims or related litigation in the United States. Investors may also seek to challenge the decision. For traders, the ruling removes one immediate legal overhang for LIBRA, but does not reverse the token’s collapse or resolve its reputational and legal risks.
Neutral
The dismissal removes an immediate Argentine criminal-case overhang for LIBRA, which could prompt short-term relief among traders who had priced in further legal pressure. However, it is not a finding that the launch was free of wrongdoing, and it does not restore the token’s value or provide compensation to buyers. LIBRA had already fallen about 95% after its launch, and the reported withdrawals and large number of losses remain important concerns. Possible investor challenges and litigation in the United States also leave uncertainty in place. As a result, the ruling’s potential positive effect is counterbalanced by unresolved legal and reputational risks. In the longer term, price direction is likely to depend more on liquidity, trading volume, project activity and any developments in remaining claims than on this dismissal alone.