Argentine federal prosecutors have obtained phone records showing President Javier Milei exchanged seven calls with a key figure behind the collapsed LIBRA cryptocurrency on the night he publicly promoted the token, directly contradicting his repeated claims of having no connection to the project, The New York Times reported.
The logs show the calls took place before and after Milei posted on X on February 14, 2025, endorsing LIBRA as a vehicle to channel investment into Argentine small businesses and startups. The token surged to a market capitalization of approximately $4 billion within hours of the post before collapsing more than 90%, wiping out an estimated $251 million in investor funds, according to blockchain analytics firm Nansen.
Some 86% of participating wallets recorded losses, affecting roughly 114,410 investors, while eight wallets linked to project insiders extracted approximately $107 million at the peak.
The calls were between Milei and Mauricio Novelli, a crypto lobbyist and longtime associate who prosecutors identify as the central intermediary between the presidency and the token’s US-based developers at Kelsier Ventures, led by entrepreneur Hayden Davis. The contents of the conversations remain unknown.
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Forensic analysis of Novelli’s seized iPhone also surfaced a draft agreement dated February 11, 2025 — three days before Milei’s post — outlining a $5 million payment structure tied to Milei’s public support for the project: $1.5 million upfront, another $1.5 million contingent on Milei naming Davis as a presidential adviser, and a final $2 million linked to a formal government consulting contract on blockchain and artificial intelligence.
Recovered WhatsApp audio messages reviewed as part of the probe reference recurring payments to Milei dating to his time as a congressman. In one 2023 message, Novelli instructed an assistant to budget “the usual 2,000 for Milei,” describing it as a monthly salary. A separate April 2024 message references “the 4,000 we need to give to Karina,” an apparent reference to Milei’s sister and chief of staff, Karina Milei.
No evidence has emerged confirming that Milei received or agreed to any of the payments outlined in the documents. Milei has not publicly commented on the call logs. Novelli’s lawyer told the Times his client is unconnected to any wrongdoing and is seeking to exclude the phone evidence, arguing the device may have been tampered with in custody.
Computer forensics experts involved in the investigation determined that the 44-character Solana contract address Milei included in his post was not publicly available before he published it, suggesting the president had insider access to the token before its public launch.
An Argentine congressional commission concluded in November 2025 that Milei provided “essential collaboration” for the project and referred the matter to the full legislature. Opposition lawmaker Maximiliano Ferraro told the Times the evidence points to deliberate coordination. “The launch and promotion of LIBRA was not at all improvised or accidental on the part of the president,” Ferraro said. “It was a planned, coordinated and deliberately executed operation.”
Milei has consistently denied involvement. After deleting his original posts, he said on X: “A few hours ago, I posted a tweet… supporting an alleged private venture with which I obviously have no connection whatsoever.”
Argentina’s Anti-Corruption Office cleared Milei of violating public ethics rules in June 2025, ruling his post was personal rather than official. Weeks later, his government dissolved the Investigation Task Unit probing the scandal via Decree 332/2025, days after a federal judge ordered the unsealing of bank records belonging to the president and his sister.
Federal prosecutor Eduardo Taiano continues to oversee the criminal investigation, in which Milei remains a named person of interest. He has not been formally charged.
Argentina’s Chamber of Deputies began formal questioning of government officials connected to the case on April 8. A US law firm has filed a class action lawsuit against Milei in New York, extending the president’s legal exposure across two jurisdictions.
Argentine fraud statutes carry sentences ranging from one month to six years of imprisonment.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
