$LIBRA Scandal Deepens: Milei’s Ties to Crypto Trader Under Scrutiny

A deepening scandal surrounding the $LIBRA cryptocurrency is revealing direct communications between Argentinian President Javier Milei and crypto trader Mauricio Novelli, raising questions about the token’s launch and subsequent collapse, which resulted in an estimated $100 million in investor losses. Evidence suggests a potential agreement involving payments in tokens or cash linked to Milei’s promotion of the cryptocurrency.

Direct Communications Revealed

Official forensic reports from the Dirección General de Investigaciones y Apoyo Tecnológico a la Investigación Penal (DATIP) have confirmed eight telephone communications between President Milei and Mauricio Novelli on February 14, 2025 – the day Milei publicly promoted $LIBRA on social media. These communications directly contradict Milei’s earlier claims of no involvement or prior knowledge of the token.

The calls occurred minutes before and after Milei shared the $LIBRA smart contract address on X (formerly Twitter) at 7:01 PM. Shortly after the post, $LIBRA briefly surged to $4.56 before plummeting to zero within five hours, wiping out an estimated $100 million in retail investor savings.

Alleged $5 Million Agreement

A “memo” recovered from Novelli’s cell phone after an attempted deletion details a potential agreement for US$5 million linked to Milei’s support for $LIBRA. The annotation, addressed to American Mark Hayden Davis and associates, outlines three payments: an advance, a payment tied to Milei’s tweet, and a final installment for a blockchain and artificial intelligence advisory contract with Milei.

The alleged agreement, reportedly drafted between late October and November 2024, stipulated:

• $1.5 million in liquid tokens or cash as an advance.
• $1.5 million in liquid tokens or cash upon Milei’s announcement of Davis as an advisor on Twitter.
• $2 million in tokens or cash for a signed contract for blockchain/AI advisory services for the Argentine government and/or Milei, with review by Milei and his sister, Karina Milei.

Further Communications with Milei’s Circle

Investigations have revealed over 20 telephone communications and messages between Karina Milei and Novelli, as well as at least 14 calls with presidential advisor Santiago Caputo, and contacts with economist Demian Reidel, surrounding the launch and collapse of $LIBRA.

On February 14, 2025, Novelli attempted to contact Karina and then Milei from Dallas, successfully speaking with the President minutes before the promotional tweet was published. Simultaneously, the VivaLaLibertadProject website was activated to facilitate potential investments.

Prior to the tweet, Novelli made at least five calls to Milei.

Ongoing Investigation

The investigation is ongoing, and the recovered evidence is being analyzed by the Public Prosecutor’s Office. As of March 15, 2026, there is no evidence that the alleged agreement has been officially validated by any member of the government.