According to CoinMeta, and as reported by Reuters, a federal judge in Argentina Marcelo Mart í nez de Giorgi ruled to terminate the criminal investigation into the Libra Meme coin incident, finding that there was not sufficient evidence to prove fraudulent activity. The ruling involved Argentine President Javier Milei, his sister Karina Milei, and an American businessman Hayden Davis who claimed to be a consulting advisor for the coin's issuance. The judge noted that although the president's status might have increased Milei's influence in promoting Libra on the X platform, such behavior did not in itself constitute fraud. In February 2025, after Milei published a recommendation for Libra, the token price soared briefly before plummeting. Previous research by blockchain analysts indicated that eight wallets associated with the token creator withdrew approximately 99 million US dollars in crypto assets from relevant trading markets.