According to Reuters, Argentine federal judge Marcelo Martínez de Giorgi has dropped the criminal investigation into President Javier Milei, his sister Karina Milei, and U.S. businessman Hayden Davis over the LIBRA meme coin scandal, finding insufficient evidence of fraud.

The judge ruled that while Milei’s endorsement on X may have amplified the token’s launch, it did not in itself constitute a fraudulent scheme. Milei promoted LIBRA in February 2025 before deleting his post as the token’s price collapsed. Blockchain researchers previously reported that eight wallets linked to the token’s creator withdrew approximately $99 million in cryptocurrency from the token’s trading market.