Argentina’s federal court dismissed the LIBRA memecoin case without trial on October 23, 2026, favouring 11 individuals, including Javier Milei, his sister Karina and American businessman Hayden Davis. Judge Marcelo Martínez de Giorgi ruled that prosecutors had not demonstrated a fraudulent scheme and that an economic loss alone does not constitute a criminal offence. According to the judge, Milei’s February 14, 2025 post may have helped boost the token’s launch but did not amount to fraud on its own. Eight wallets linked to the creator reportedly withdrew about $99 million from the LIBRA market, while prosecutors had themselves sought a blanket dismissal of the case. Although no criminal prosecution is expected, investors’ appeals remain before the Federal Court of Cassation, and a New York court dismissed most of the class action targeting LIBRA and Kelsier Labs.
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