Argentine Court Dismisses Investigation into President Milei Over Memecoin Promotion

On October 23, 2026, a federal judge dismissed the criminal investigation into Argentine President Javier Milei regarding his promotion of the $LIBRA memecoin.

• Promotion fallout: The investigation began after Milei's February 2025 social media post led to an 80-90% collapse in the token's value, resulting in $251 million in reported investor losses.
• Legal clearance: Prior reviews by Argentina's anti-corruption office and the U.S. Department of Justice found insufficient evidence to pursue charges against Milei and his associates.
• Judicial ruling: Judge Marcelo Martínez de Giorgi concluded that investor losses alone do not constitute fraud under Argentine law, framing Milei's actions as personal rather than official.

The dismissal of the case may pave the way for more lenient scrutiny of crypto promotions by politicians, but potential appeals could still alter the landscape.