- Phone logs show Milei had undisclosed calls with $LIBRA figures on the same night of promotion.
- Draft document outlines possible $5M deal tied to endorsement, though no agreement is confirmed.
- $LIBRA surged after promotion, then collapsed, causing losses for thousands of investors.
Fresh court filings have raised scrutiny around Argentina’s President, Javier Milei, and his previously stated lack of involvement in the launch of the $LIBRA cryptocurrency. Investigators reviewing phone logs and recovered documents have identified previously undisclosed communication between Milei and individuals tied to the project, raising new questions about the extent of his engagement.
According to federal prosecutors, as reported by WSJ, phone logs reveal that Milei exchanged seven calls with one of the entrepreneurs behind $LIBRA on the same night in 2025 that he publicly posted about the token on X. The calls occurred both before and after the post, although their contents remain unknown.
The records, obtained by investigators and reported by local outlets, show a higher level of interaction than Milei has publicly acknowledged. Authorities also confirmed that dozens of additional calls and messages were exchanged between Milei and businessman Mauricio Novelli, who acted as an intermediary between the project’s promoters and the president’s office.
Separately, newly uncovered messages show that Milei received regular payments from an entrepreneur during his time as a congressman.
Draft Agreement and Timeline Details
Judicial authorities also recovered a draft document from Novelli’s phone outlining a proposed financial arrangement tied to Milei’s support of the cryptocurrency initiative. The note, written between October and November 2024, described a structure that included a $1.5 million upfront payment, another $1.5 million following a public endorsement, and an additional $2 million linked to a proposed advisory role on blockchain-related matters.
Officials stated that the document does not confirm that Milei accepted or signed any agreement, nor that any payments were executed under those terms. However, they said the findings contribute to an ongoing investigation that authorities have characterized as a potential transnational fraud case.
The timeline outlined in the evidence shows that businessman Hayden Davis, who was linked to the project, traveled to Argentina after the draft was written. The $LIBRA token was later launched on February 14, 2025.
Market Impact and Conflicting Claims
The controversy originated in February 2025 when Milei promoted $LIBRA as part of a broader initiative to encourage investment in Argentine businesses. Following his endorsement, the token’s price surged briefly before collapsing within hours, resulting in losses for tens of thousands of investors.
Milei later stated that he had no formal connection to the project and claimed he had simply shared publicly available contract code. However, technical experts consulted by Argentina’s Congress reported that the code referenced in his post was not accessible online at the time it was shared.
Related: New Report Links President Milei to LIBRA Crypto Fraud: Here’s What Investigators Found
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