Mauricio Novelli defends Libra memecoin launch in court

Crypto entrepreneur Mauricio Novelli, an organizer of the Libra memecoin launch, has requested that the Federal Chamber confirm the removal of five investors from their status as complainants in a legal case. Novelli argues that the investors were not victims of fraud but instead voluntarily assumed market risks that resulted in financial losses.

In a legal filing, Novelli’s defense maintained that the venture was strictly private. The filing also sought to distance President Javier Milei from any criminal responsibility regarding a post he shared on X on February 14, 2025, to announce the Libra launch.

The defense, represented by attorney Daniel Rubinovich, argued that Argentine criminal law does not penalize speculative losses, poor financial decisions, or asset volatility. The filing rejected the notion that investors were victims of 'FOMO' (fear of missing out), asserting that market euphoria or volatility does not constitute a fraudulent scheme.