Investor Appeals Ruling Clearing Javier Milei in Argentina's LIBRA Crypto Case

The LIBRA case grew out of President Javier Milei's promotion of a cryptocurrency in 2025. He shared its launch on X, then deleted his message. The token surged and collapsed, according to Le Monde.

The investigation examined suspected fraud surrounding the cryptocurrency. Milei denied acting fraudulently, BBC News reported. His sister Karina Milei, the secretary general of the Presidency, was also investigated, according to Infobae.

On October 23, Argentine justice dismissed the case against Milei and the other defendants. The Defiant reported that the ruling also covered Karina Milei and Hayden Davis.

The central finding concerned what Milei's promotion established legally. According to The Block, the judge's 60-page ruling concluded that his post did not, by itself, establish fraud. Al Jazeera reported that the judge found Milei's role in the launch did not translate into a fraudulent scheme.

Milei responded on October 23 by portraying the affair as a political and media operation, according to La Nacion. Speaking at Fundación Faro, he also alleged that opponents had tried and failed to carry out a coup, Infobae reported. That was Milei's characterization of the case, not a finding described in the supplied court coverage.

On October 24, the dispute moved further into the president's confrontation with the press. La Nacion reported that Milei attacked its coverage and journalist Hugo Alconada Mon, saying he did not rule out legal action.

Criticism of the dismissal continued. On October 26, national deputy Maximiliano Ferraro accused prosecutor Eduardo Taiano and judge Marcelo Martínez de Giorgi of participating in a political and judicial operation to guarantee impunity, according to Perfil.com. Those were Ferraro's allegations.

On October 27, investor Juan Patricio Marchetto appealed the dismissal, with legal representation from Juan Grabois and Nicolás Rechanik, according to Tv local. El Cronista reported that the appeal challenged the closure of the case against Milei, Karina Milei and nine other accused people.

The appeal changes the picture presented two days earlier. On October 25, La Nacion had described the dismissal as leaving no accuser in place who could appeal. The October 27 reports establish that an investor has now filed a challenge, but do not establish whether it has been accepted or whether the investigation will reopen.

The immediate question is how the courts handle the investor's appeal and whether it leads to review of the dismissal. The supplied coverage reports the filing, not a decision on it. Milei's statements about possible action against journalists also remain separate from the criminal ruling.