Argentina Federal Court to hear $LIBRA cryptocurrency fraud case

A key hearing is scheduled in the Argentine Federal Chamber regarding the $LIBRA cryptocurrency case. The proceedings will determine whether five investors, who were previously excluded from the case, can regain their status as plaintiffs.

Investor Martín Romeo has characterized the $LIBRA operation as a “monumental scam,” alleging a deliberate scheme to attract funds following a tweet by President Javier Milei on February 14, 2025. Romeo claims the maneuver resulted in losses for approximately 84,000 victims, including roughly 1,300 Argentines, with total damages estimated at $286 million.

Conversely, crypto entrepreneur Mauricio Novelli, one of the organizers, is requesting the court to uphold the decision to exclude the investors. Novelli’s defense argues that the participants were not victims of fraud but rather individuals who voluntarily assumed market risks. The defense maintains that the case is an attempt to reclassify speculative losses as criminal fraud and asserts that President Milei bears no criminal responsibility for his social media activity regarding the asset.