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An Argentine federal court has dismissed a criminal case tied to the LIBRA memecoin against President Javier Milei, his sister Karina Milei, U.S. businessman Hayden Davis, and eight others, Yahoo News reported. The court found it was difficult to prove fraud based solely on Milei’s promotion of the token and its sharp price rise and fall, and said there was no evidence to support allegations that Karina Milei had received improper payments.
LIBRA plunged after President Milei promoted it on X in February 2025, and blockchain analysts found about $99 million was withdrawn from eight wallets tied to the token. Around 40,000 investors suffered total losses of $110 million, according to the report.