Argentine federal judge Marcelo Martínez de Giorgi on 23 October 2026 dismissed the criminal case investigating the LIBRA memecoin against President Javier Milei, his sister Karina Milei (Secretary-General of the Presidency) and nine others. The ruling accepted the request of federal prosecutor Eduardo Taiano and held that the investigated events do not constitute a criminal offense under Argentine law.
The 60-page decision, grounded in article 336, section 3 of the national code of criminal procedure, clears all 11 individuals under investigation, including U.S. entrepreneur Hayden Mark Davis, Argentine crypto figures Mauricio Novelli and Manuel Terrones Godoy, and others linked to the project’s launch and promotion. The judge found no criminally relevant deception, no official act tied to the project that amounted to abuse of authority, and no use of public resources. The order directs that the file be archived once the decision becomes final; it remains subject to possible appeals.
The Drivers of the Current Situation
The main issue is the judicial dismissal of the LIBRA criminal investigation against President Javier Milei and 10 co-investigated parties. The case arose from the February 2025 launch and rapid price collapse of the Solana-based memecoin after Milei promoted it on social media, leading to investor losses and allegations of fraud, pump-and-dump activity and misconduct in public office.
Related factors frame the outcome. Prosecutor Taiano concluded that the facts did not meet the legal thresholds for the alleged crimes, and the judge agreed that investor losses and price volatility alone were insufficient to establish criminal liability. Only the 23 October dismissal order, the clearing of the 11 named individuals, the reliance on the prosecutor’s opinion, the absence of proven criminal deception or official acts, and the archival directive are established in the court decision and contemporaneous reporting. Prior removal of certain private plaintiffs provides additional procedural context.
Continued monitoring requires observation of any appeals or cassation proceedings and whether the decision becomes final. Limited immediate detail on the status of parallel civil claims forms a narrower path for assessing residual exposure. The court has closed the criminal file subject to finality. The situation is the LIBRA case against Milei and 10 others dismissed by an Argentine judge.
Impact and Broader Context
Questions about the LIBRA case against Milei and 10 others being dismissed by an Argentine judge keep growing. The ruling creates uncertainty about potential appeals and the final archival of the file. It also elevates attention on the legal boundaries of public officials’ social-media promotion of volatile digital assets. Political observers, investors and legal analysts continue to assess the implications.
The issue drives debate on the application of fraud and public-office statutes to memecoin promotions. It raises questions about the durability of the “no crime” finding, the limits of inferring intent from price swings and liquidity withdrawals, risks of renewed private actions, effects on near-term political narratives, and competition among jurisdictions handling related investor claims. The court stresses that the investigated conduct did not fit any criminal figure. Coverage notes the decision leaves the reputations of those investigated intact under the procedural code.
The late-October ruling forced renewed focus on accountability standards for high-profile crypto promotions. The current judicial review shows how subsequent appellate decisions or parallel proceedings will determine the lasting effect.
New court filings, appeal outcomes or related civil developments will clarify the contribution of this dismissal to the overall LIBRA matter.
This analysis uses the federal court decision as reported and contemporaneous coverage. Finality of the order, appeal results and any residual claims remain subject to further judicial processes and market conditions.