Newly surfaced phone records and messages are adding to evidence that could deepen legal scrutiny of Argentine President Javier Milei’s role in the failed Libra cryptocurrency project, The New York Times reported Monday.
Court documents from an ongoing federal investigation show Milei exchanged multiple phone calls with entrepreneur Mauricio Novelli, considered a key figure behind the multimillion-dollar Libra rugpull on the night of the token’s February 2025 launch.
The calls occurred both before and after Milei promoted the token on social media, raising questions about his claim that he had no direct involvement, the NYT said.
According to Argentine news outlet Pagina/12, call records show contact beginning minutes before Milei’s post and continuing for hours afterward as the token surged and then collapsed, with some of the longest exchanges taking place later in the evening as prices were already falling
Milei’s ties to the crypto scandal were first reported by CoinDesk over a year ago when it obtained text messages from a source close to the matter in which a key player behind the Libra token, Hayden Davis, CEO of Kelsier Ventures. Davus claimed he had influence over the Argentine president’s inner circle months before the memecoin's launch and crash.
In March, Página/12 reported that as many as eight communications took place between Milei and Novelli during the key launch window.
While the contents of the calls remain unknown, investigators view the timing and frequency as suggestive of closer coordination than publicly acknowledged. Milei has not been charged but is listed as a person of interest in the probe.
Additional material recovered from Novelli’s phone further complicates the picture. Prosecutors found messages suggesting recurring payments to Milei while he was still a lawmaker, described as a monthly “salary.” Draft documents also point to potential financial arrangements tied to Milei publicly endorsing figures linked to the project, though there is no confirmed evidence that any agreements were executed.
The findings build on CoinDesk’s reporting, revealing that Davis, the $Libra co-creator, had privately claimed he could exert influence over Milei through payments to his sister, Karina Milei, a senior government official. Davis later denied making any such payments.
Together, the phone logs, payment-related messages and prior reporting strengthen allegations that Milei’s promotion of $Libra may not have been incidental. His social media post, which he deleted, included access details not widely public at the time, helped drive a rapid surge in the token’s price before it collapsed, wiping out an estimated $250 million in investor funds in what critics describe as a classic “rug pull.”
Milei admitted he had supported the Libra token in a separate X post, saying he was unaware of its details and therefore deleted his previous post. However, the damage had already been done. Libra’s price shot up by more than 2,000% in a 40-minute span following Milei’s tweet, only to collapse as early holders cashed out.
The Argentine president's office did not immediately respond to a CoinDesk request for comment, but officials have previously denied any link between the president and the $Libra project, dismissing such claims as unproven or based on disputed evidence.
