Argentine Judge Dismisses Criminal Case Against President Milei Over Memecoin Promotion
What happened
On October 23, 2026, an Argentine federal judge dismissed a criminal investigation into President Javier Milei regarding his promotion of the $LIBRA memecoin.
The Context
- Insufficient evidence: The judge found no proof of fraud or criminal wrongdoing, clearing Milei and his associates.
- Market impact: Milei's February 2025 social media endorsement led to a $99 million withdrawal from liquidity pools, raising concerns about market manipulation.
- Investor losses: While the criminal case is closed, civil claims from investors remain unresolved, leaving many seeking compensation.
The Number
— This amount was withdrawn from the token’s liquidity pools, underscoring the financial stakes involved in cryptocurrency promotions.
Takeaway
The ruling may set a precedent for how similar cases are handled in the future, influencing both investor confidence and regulatory scrutiny in the crypto space.
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