Federal judge Marcelo MartÃnez de Giorgi has dismissed the criminal case over the LIBRA token, clearing President Javier Milei and ten others, The Block reports. The 60-page ruling came on Friday, 23 October, after prosecutor Eduardo Taiano asked for dismissal.
LIBRA’s market capitalisation passed $4.5 billion and then fell about 95 percent within hours. Onchain analysts say eight wallets tied to the team cashed out $107 million.
The judge found no “criminally relevant deception” and said the events do not fit any offence. Milei’s February 2025 post promoting the token did not by itself amount to fraud, he wrote, and a presidential office lending visibility to an asset is not a fraudulent scheme.
Those cleared include Karina Milei, the president’s sister, and Hayden Davis, who called himself LIBRA’s launch adviser. None of the eleven was called to give a statement as a suspect.
The ruling treats thin evidence as thin. A phone note describing $5 million in payments existed, but there was no proof it was sent to anyone. Deleted chats were found, but their contents could not be established.
Taiano is not expected to appeal and no private plaintiffs remain. Five investors removed in July are asking a higher court to reinstate them, and if they succeed they could appeal.
A congressional commission reported in November 2025 that Milei gave the project essential collaboration. The ruling does not mention it, and opposition lawmakers are calling the outcome a cover-up.
