Argentina drops investigation into President Milei over crypto fraud

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   Argentina drops investigation into President Milei over crypto fraud

   BBC NewsPublished Oct 23, 2026Checked Oct 23, 2026

   “A criminal investigation into Argentine President Javier Milei and his sister's links to a cryptocurrency scandal has been dropped. The case against Milei and his sister Karina Milei was dismissed by federal judge Marcelo Martinez de Giorgi at the request of prosecutors, court records show. The Argentinian president had denied promoting the newly launched cryptocoin $Libra , which collapsed shortly after he mentioned it in a social media post in February 2025. He said he had acted "in good faith" when the cryptocurrency rose in value before crashing and causing huge losses for the majority of its investors. Milei is yet to respond to news of the case being dropped. Dismissing the case, the judge said "the reported events do not fall under a legal category", and concluded that no "criminally relevant deception" had been proven. Accusations of fraud arose when Milei posted on X, formerly Twitter, about the $Libra coin, which he said at the time would help fund small businesses and start-ups. The cryptocurrency's price subsequently shot up when the Argentine president shared a link to buy it. But, within a few hours, he deleted his post and the crypto nosedived in value, losing investors most of their money. It led opposition members of Congress to plan impeachment proceedings, while some online accused Milei of a "rug pull" - where promoters of a cryptocurrency draw in buyers, only to stop trading activity and make off with the money raised from sales.”

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   An assessment of cryptocurrencies as a global commercial determinant of health.

   Health promotion international (Davies)Published Dec 1, 2024Checked Oct 23, 2026

   “Marketing strategies mirror those of traditional harmful industries, deploying immense advertising budgets and celebrity endorsements to promote highly speculative and risky financial products. Cryptocurrency mining, demanding considerable energy consumption, causes significant environmental damage. Financial practices include hundreds of outright frauds targeting low- and middle-income countries. Cryptocurrency investment, with 24/7 access and promises of huge wealth, mirrors gambling and is likely to result in public health harms through the same mechanisms as other forms of gambling. Despite the supposed potential of blockchain technology for improving payment and contract systems, the lack of realization of these benefits contrasts sharply with the immediate and growing costs associated with cryptocurrency speculation. Cryptoassets are a case study for the need for health promotion professionals to critically evaluate new technologies and advocate for regulatory measures to protect public health in the face of novel, high-risk products that overlap gambling and finance.”

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   Presidency of Javier Milei (Wikipedia)

   WikipediaChecked Oct 23, 2026

   “Javier Milei's tenure as the 59th president of Argentina began with his inauguration on 10 December 2023. Milei, a member of La Libertad Avanza, took office after defeating then-economy minister Sergio Massa in the 2023 general election. His administration began during deep economic turmoil as part of the ongoing Argentine monetary crisis, with annual inflation surpassing 100% in the months prior to his inauguration. Described along right-wing populist and right-wing libertarian lines, Milei pursued deregulation policies to alleviate the national economic crisis. He eliminated several government ministries within his first months in office, achieving a budget surplus for the first time since 2011. On foreign affairs, the Milei administration distanced itself from governments such as those of Venezuela and Cuba, which it calls communist, favouring closer ties with Israel amid the Gaza war and Ukraine during the Russo–Ukrainian War.”

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   Javier Milei (Wikipedia)

   WikipediaChecked Oct 23, 2026

   “Javier Gerardo Milei (born 22 October 1970) is an Argentine politician and economist who has served as the president of Argentina since 2023. He served as a member of the Chamber of Deputies from 2021 to 2023. Born in Buenos Aires, Milei attended the University of Belgrano, where he obtained a degree in economics, and undertook postgraduate coursework at the Instituto de Desarrollo Económico y Social, and at Torcuato di Tella University, though neither resulted in a completed degree. He rose to public prominence in the 2010s by appearing as a pundit on various television shows in which he was a vocal critic of the Argentine political establishment. In the 2021 legislative election, Milei was elected to the Argentine Chamber of Deputies, representing the City of Buenos Aires for La Libertad Avanza. As a national deputy, he limited his legislative activities to voting, focusing instead on critiquing Argentina's political elite and its propensity for high government spending. Milei pledged not to raise taxes, and donated his national deputy salary through a monthly raffle.”