Milei was linked to the Libra probe due to his promotion of the token on social media soon after its launch. Within hours, the token price plummeted, leaving over 40,000 investors affected and nearly $110 million in losses.
Regarding this promotion, the court found Milei did not commit abuse of authority crimes, as he shared the token information on a personal basis without resorting to institutional or administrative acts.
Finally, the court also dismissed charges of incompatible negotiations and influence peddling. In the ruling, the court stressed that it did not find evidence against Karina Milei, the president’s sister and General Secretary of the Presidency of the Argentine Nation, who was accused of receiving money to secure access and arrange meetings with President Milei.
The acquittal follows a similar ruling in New York, where a class action lawsuit involving RICO and other related charges against Kelsier Ventures and other defendants was dismissed earlier this month.
With these decisions, the Libra matter appears settled both in Argentina and the U.S., leaving no one responsible for the losses associated with the token dump. Nonetheless, an independent trust was launched in May to distribute over $110 million from Libra token sales to Argentine entrepreneurs before November, using a grants system. No further information has been provided about the distribution of these funds.
