Argentina President Milei Had Seven Calls with LIBRA Project as Investigation Continues

Argentinian President Javier Milei had seven phone calls with a key figure behind the LIBRA cryptocurrency project on the night in 2025 when he publicly promoted the token on X, according to an ongoing federal investigation that has named Milei as a person of interest.

The LIBRA token briefly reached a market capitalization exceeding $4 billion before collapsing by more than 90%, causing millions in investor losses, while Milei has denied any wrongdoing.

Phone Call Records Show Seven Contacts Between Milei and LIBRA Figure

Phone logs obtained by investigators show seven phone calls between President Milei and Mauricio Novelli, a crypto lobbyist and key figure behind the launch of the LIBRA token, on the same night in 2025 when Milei posted support for the project on X. The contents of the calls remain unknown. The calls occurred around the time Milei publicly backed the token, and the repeated contact has become a central focus of the inquiry into the project’s timeline and Milei’s role.

The Argentine investigation previously recovered a document from Novelli’s phone that detailed an alleged $5 million payment agreement connected to Milei’s promotion of the LIBRA memecoin, according to investigative outlet El Destape. Forensic call records had already shown Novelli’s devices were involved in coordinated communication surrounding the token’s launch.

LIBRA Token Collapse Followed Presidential Promotion

More than a year ago, President Milei promoted the LIBRA token online by posting to X. The coin briefly achieved a market capitalization exceeding $4 billion before quickly collapsing by more than 90%. Eight wallets linked to the project cashed out $107 million during the collapse. Milei later deleted his X posts.

The LIBRA project moved from hype to scandal very rapidly. The collapse caused investors to lose millions of dollars and triggered public outrage in Argentina. The timing of Milei’s public message and his private calls with project leaders has drawn scrutiny from investigators examining what the president knew and when.

Federal Investigation Continues with Milei as Person of Interest

A federal investigation has named President Milei as a person of interest, though he has denied any wrongdoing. The label does not imply formal charges or a finding of guilt but indicates that investigators continue to examine his conduct and contacts. The probe has reviewed records, timelines, call data, and the order of events surrounding the token’s launch and collapse.

In November 2025, an Argentine congressional committee found that Milei provided “essential collaboration” for the project and recommended that Congress evaluate his actions. In June 2025, Argentina’s Anti-Corruption Office cleared Milei of violating public ethics rules, concluding that his post was personal rather than official. However, his government later disbanded an investigative task force probing the scandal, days after a judge ordered the president’s and his sister’s bank records unsealed.

Political and Legal Ramifications of the LIBRA Scandal

The LIBRA scandal remains active because Milei leads Argentina and his public statements carry significant weight in financial and political debates. Any contact with project leaders draws closer review from investigators, and phone records have become a central piece of the developing story. Milei continues to reject wrongdoing, and the investigation is still ongoing.

For the crypto industry, the case highlights how public endorsements from political figures can affect market behavior and trigger subsequent regulatory and legal scrutiny. The timing of public messages and private communications near token launches may draw added attention from authorities.

FAQ

What evidence links President Milei to the LIBRA token project?

Phone logs obtained by investigators show seven phone calls between Milei and crypto lobbyist Mauricio Novelli on the night in 2025 when Milei posted support for LIBRA on X. Investigators also recovered a document from Novelli’s phone detailing an alleged $5 million payment agreement connected to Milei’s promotion of the token.

What happened to the LIBRA token after Milei’s promotion?

LIBRA briefly reached a market capitalization exceeding $4 billion before collapsing by more than 90%. Eight wallets linked to the project cashed out $107 million, causing millions in investor losses. Milei later deleted his X posts about the token.

Has President Milei been charged with any wrongdoing?

No. Milei has denied any wrongdoing and remains a person of interest in an ongoing federal investigation. An Argentine Anti-Corruption Office cleared him of violating public ethics rules, concluding his post was personal rather than official. However, a congressional committee found he provided “essential collaboration” for the project.