TLDR:
- Draft $5M deal from lobbyist Novelli links Milei to Libra token promotion.
- Milei exchanged messages with Novelli when the token contract was posted on X.
- Libra token briefly reached $4B market cap before collapsing 94% within hours.
- Authorities froze Hayden Davis’s assets; an investigation into payments and communications is ongoing.
Argentine President Linked to $5 Million Libra Token Agreement is under investigation after forensic analysis revealed a draft $5 million deal associated with the promotion of the Libra token, which briefly surged in market value.
Draft Deal and Payment Structure
Argentine President Linked to $5 Million Libra Token Agreement came to light after authorities examined Mauricio Novelli’s phone during a judicial probe.
The recovered draft document, reportedly written on February 11, 2025, outlines a total $5 million payment plan.
The draft divided payments into three segments. The first installment of $1.5 million would be delivered in tokens or cash as an advance.
A second $1.5 million was tied to a public endorsement of crypto entrepreneur Hayden Davis on X. The remaining $2 million involved a consulting contract with President Milei and his sister Karina for blockchain or AI services.
Investigators noted the draft did not specify the ultimate recipient of the funds. Screenshots of the document surfaced after prosecutors disclosed material previously held since November.
Experts confirmed the contract code referenced in the draft was not publicly available at the time of Milei’s social media post, adding context to the timing of the promotion.
Authorities are still evaluating whether the draft agreement was executed. The recovered messages suggest coordination between Novelli and Milei surrounding the token promotion.
Deleted chats partially recovered from Novelli’s phone also indicated he helped prepare Milei’s public response following the controversy.
Communication and Market Reaction
Digital forensic analysis revealed that Milei exchanged five messages with Novelli at the exact moment he posted the Libra token contract on X. The contract’s publication coincided with a rapid market surge, temporarily raising the token’s value to $4 billion.
The following hours saw the Libra token collapse by 94%, affecting more than 44,000 investors. Authorities have since frozen Hayden Davis’s assets while the investigation continues.
Novelli’s call records also show contact with Milei and his sister before and after the announcement. Multiple calls with presidential adviser Santiago Caputo were recorded as the government managed the controversy.
Another note, dated February 16, outlined a public statement designed to support the Libra token while denying direct financial involvement. Officials suggest it may have been intended for Milei to post on social media.
Milei has publicly denied active promotion, stating he merely shared information about the token.
The investigation remains ongoing as prosecutors review recovered communications, asset records, and other digital evidence. Further findings could clarify whether any financial arrangement linked to the Libra token promotion actually occurred.