As reported by The New York Times on April 6, Argentine President Javier Milei is currently embroiled in an investigation surrounding the LIBRA cryptocurrency scandal. Evidence reveals that on the night Milei publicly promoted the token on X (formerly Twitter), he engaged in seven phone calls with the project’s key operator and crypto lobbyist, Mauricio Novelli.
Following its launch, the LIBRA token’s market capitalization briefly soared to $4 billion before suffering a catastrophic collapse, plummeting by more than 90%. Previous reports indicated that eight wallets linked to the project offloaded $107 million worth of tokens just before the crash, leaving countless investors with massive losses. Milei has since deleted all promotional content from his X account and has repeatedly denied any wrongdoing.
Investigation Progress and the $5 Million Deal Allegations
Last November, a report from an Argentine congressional committee stated that Milei provided "critical assistance" to the LIBRA project and recommended that Congress further evaluate his actions. Additionally, in March, the investigative outlet El Destape revealed a document recovered from Novelli’s phone suggesting the existence of a potential $5 million agreement for token promotion.
Although Milei’s legal team and relevant government departments have attempted to distance the president from the project—with Argentina’s Anti-Corruption Office ruling last June that Milei did not violate public ethics codes, arguing his promotion was personal rather than official—the federal investigation remains ongoing. Milei continues to be a primary focus of the case.
Investigators have yet to disclose the specific contents of the phone calls. As the probe deepens, the Milei administration’s previous decision to dissolve the task force investigating the matter has faced renewed public scrutiny. As of now, the Argentine government has not issued a formal response regarding the latest revelations about the call logs.
