Argentina’s LIBRA case: Judge dismisses criminal investigation; the legal chapter is closed, but the lessons remain.
◆ Ruling: On October 23, Argentine federal judge Marcelo Martinez de Giorgi dismissed the criminal investigation into President Javier Milei and his sister, Karina Milei. The ruling said the events in question did not constitute a criminal offense, and that investor losses and price fluctuations alone were not enough to establish fraud.
◆ Timeline: In February 2025, Milei posted on X recommending the little-known LIBRA token. He later deleted the post and denied any connection to the token; its price plunged after a brief surge.
◆ Another person under investigation: The investigation into American businessman Hayden Davis, who called himself an “issuance adviser,” was also dismissed. Davis admitted to holding nearly $100 million after the crash and denied any wrongdoing.
◆ Presidential Office response: The Presidential Office said in a post on X that this was the first time in history a president had been investigated with complete freedom, and that the result was “absolute exoneration.” It also asked who would be held responsible for wasting taxpayers’ money.
◆ Milei’s own defense: When the token’s price collapsed, he said he had acted in “good faith” and accused political opponents of exploiting the situation for publicity.
Notably, the judge also acknowledged that Milei’s status as president may have given the post “greater impact,” but that did not amount to a fraudulent scheme. The legal determination and investor losses are two separate matters: the former is now closed; the latter have already occurred.
In a nutshell: The risk of a celebrity endorsing a token is never priced in at the courthouse—it is already priced in the moment the post goes live.
Personal opinion only; this is not investment advice.
#阿根廷 #名人站台币 $BTC
◆ Ruling: On October 23, Argentine federal judge Marcelo Martinez de Giorgi dismissed the criminal investigation into President Javier Milei and his sister, Karina Milei. The ruling said the events in question did not constitute a criminal offense, and that investor losses and price fluctuations alone were not enough to establish fraud.
◆ Timeline: In February 2025, Milei posted on X recommending the little-known LIBRA token. He later deleted the post and denied any connection to the token; its price plunged after a brief surge.
◆ Another person under investigation: The investigation into American businessman Hayden Davis, who called himself an “issuance adviser,” was also dismissed. Davis admitted to holding nearly $100 million after the crash and denied any wrongdoing.
◆ Presidential Office response: The Presidential Office said in a post on X that this was the first time in history a president had been investigated with complete freedom, and that the result was “absolute exoneration.” It also asked who would be held responsible for wasting taxpayers’ money.
◆ Milei’s own defense: When the token’s price collapsed, he said he had acted in “good faith” and accused political opponents of exploiting the situation for publicity.
Notably, the judge also acknowledged that Milei’s status as president may have given the post “greater impact,” but that did not amount to a fraudulent scheme. The legal determination and investor losses are two separate matters: the former is now closed; the latter have already occurred.
In a nutshell: The risk of a celebrity endorsing a token is never priced in at the courthouse—it is already priced in the moment the post goes live.
Personal opinion only; this is not investment advice.
#阿根廷 #名人站台币 $BTC