Newly surfaced evidence suggests Argentine President Javier Milei’s involvement with the collapsed LIBRA meme coin may be more extensive than previously known. Phone logs reveal seven calls between Milei and a key token backer on its launch night in February 2025, and WhatsApp messages reference regular payments to Milei dating back to when he was a congressman. While Milei was previously cleared by Argentina’s anti-corruption office, the federal criminal probe into the scandal that cost investors an estimated $250 million remains open.
Phone logs obtained by prosecutors show seven calls between Argentine President Javier Milei and Mauricio Novelli, a backer of the LIBRA meme coin, on the night of its launch. The calls occurred before and after Milei’s now-deleted post endorsing the Solana-based token, which briefly sent its market cap above $4 billion before a crash.
The token’s collapse saw insiders drain roughly $87 million in liquidity, costing investors an estimated $250 million. This triggered fraud charges, a congressional investigation, and a federal criminal probe that remains active.
WhatsApp messages from Novelli’s phone point to a prior financial relationship. In a 2023 audio message, Novelli instructed an assistant to budget a monthly salary, stating “the usual 2,000 for Milei.” Another message from 2024 referenced “the 4,000 we need to give to Karina,” apparently concerning Milei’s sister.
Draft documents on the phone also outlined a $1.5 million payment scheme tied to Milei publicly naming Hayden Davis as a presidential adviser. No evidence has emerged showing Milei agreed to or received these payments, and he has not been formally charged in relation to them.
Novelli’s lawyer told media his client is unconnected to any wrongdoing and is seeking to have the phone evidence excluded. Opposition lawmaker Maximiliano Ferraro stated the promotion “was a planned, coordinated and deliberately executed operation.”
Milei dissolved the government task force investigating the scandal in May 2025. The federal criminal probe under prosecutor Eduardo Taiano remains open.
