--- title: "Argentine Judge Dismisses LIBRA Memecoin Criminal Case Against Javier Milei" description: "Federal Judge Marcelo Martínez de Giorgi cleared 11 individuals, finding no evidence of fraud or misuse of public office in the token's collapse." url: https://basisdesk.news/news/argentine-judge-dismisses-libra-memecoin-case-javier-milei published: 2026-10-24T03:06:12.071Z modified: 2026-10-24T03:06:12.071Z section: Regulation & Policy author: Basis Desk Newsroom (AI-generated, source-verified) sentiment: neutral tickers: [USDC] tags: [argentina, javier-milei, memecoins, litigation, libra] license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice. --- # Argentine Judge Dismisses LIBRA Memecoin Criminal Case Against Javier Milei Federal Judge Marcelo Martínez de Giorgi cleared 11 individuals, finding no evidence of fraud or misuse of public office in the token's collapse. ## At a glance - **What happened:** Argentine federal judge Marcelo Martínez de Giorgi dismissed a criminal fraud and misconduct case against President Javier Milei and 10 others on Oct. 23. - **Why it matters:** The ruling concludes that promotional social media backing of a falling token did not constitute criminal fraud or illicit use of public office. - **Who is affected:** President Javier Milei, Karina Milei, Hayden Davis, Kelsier Ventures, and private token investors. - **Takes effect:** 2026-10-23 - **What's next:** The decision awaits finality as the federal criminal cassation court reviews an appeal regarding excluded private plaintiffs. - **Status:** court-ruling - **Primary source:** [Judge Shuts LIBRA Case Against Javier Milei, Ruling the Memecoin Facts Fit No Crime](https://unchainedcrypto.com/judge-shuts-libra-case-against-javier-milei-ruling-the-memecoin-facts-fit-no-crime/) — unchainedcrypto.com ## Key points - Judge Marcelo Martínez de Giorgi dismissed criminal charges against President Javier Milei and 10 others over the LIBRA memecoin. - The ruling found no evidence of criminal deception, abuse of authority, or the expenditure of public resources in the token's launch. - The decision is not yet final pending a Sept. 16 petition by excluded private plaintiffs before the federal criminal cassation court. ## Editorial remark - **Context:** The LIBRA token collapsed by more than 94% within 11 hours of its Feb. 14, 2025 launch, following public promotion by President Javier Milei, triggering domestic criminal complaints and the freezing of $57 million in USDC. - **Impact:** The dismissal clears 11 individuals under investigation, including senior Argentine government officials and Kelsier Ventures leadership, preserving their legal standing absent a successful appeal. - **Watch:** Whether the federal criminal cassation court acts on the Sept. 16 petition by former private plaintiffs seeking reinstatement. Argentine federal judge Marcelo Martínez de Giorgi dismissed a criminal case on Oct. 23 involving the LIBRA memecoin that targeted Argentine President Javier Milei, Secretary-General Karina Milei, and nine other individuals [1]. Siding with a request from federal prosecutor Eduardo Taiano, the judge ruled that the events surrounding the token's promotion and subsequent decline did not constitute a crime under national law [1]. The dismissal applies to all 11 people under investigation, including Kelsier Ventures founder Hayden Davis, none of whom were ever formally questioned as suspects [1]. In the 60-page ruling, the judge determined that the evidentiary record did not demonstrate criminally relevant deception, citing article 336, section 3 of Argentina's criminal procedure code [1]. While acknowledging that presidential promotion could expand a project's reach and influence investor trust, the court found this did not inherently provide purchasers with a false representation of reality [1]. The court also warned against presuming criminal fraud solely based on investor financial losses [1]. Additionally, the ruling rejected allegations of abuse of authority and incompatible negotiations, concluding that no state resources or official government acts were involved [1]. Claims alleging Karina Milei operated as an illicit intermediary were likewise dismissed due to a lack of evidence [1]. ## Background and Status The criminal probe originated after Milei promoted LIBRA on Feb. 14, 2025, via social platform X as an initiative to finance domestic small businesses [1]. The token reached a peak market capitalization of $4.56 billion before declining over 94% within 11 hours, prompting Milei to delete the post and state he had no affiliation with the enterprise [1]. The broader fallout previously led stablecoin issuer Circle to freeze $57 million in $USDC connected to the project in May 2025 [1]. A parallel investor lawsuit in the United States against Davis and Kelsier Labs was dismissed with prejudice on Sept. 29 by a New York federal judge [1]. The Argentine court order is not yet final and mandates that the case file be archived only once all legal avenues conclude [1]. Five investors previously excluded as private plaintiffs appealed to the federal criminal cassation court on Sept. 16 to regain standing, leaving open the possibility of further legal challenges [1]. ## Sources 1. [Judge Shuts LIBRA Case Against Javier Milei, Ruling the Memecoin Facts Fit No Crime](https://unchainedcrypto.com/judge-shuts-libra-case-against-javier-milei-ruling-the-memecoin-facts-fit-no-crime/) — unchainedcrypto.com, 2026-10-24 --- Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai