New evidence in Libra probe raises questions about Milei’s involvement

Newly uncovered call logs reviewed by The New York Times suggest Argentine President Javier Milei spoke multiple times with one of the entrepreneurs behind the Libra token on the night he promoted the cryptocurrency, raising questions about Milei’s claim that he had no connection to the project.

Call logs reviewed by prosecutors

The logs were obtained by Argentine prosecutors investigating the token’s collapse. According to the Times, there were reportedly seven phone calls between an unnamed entrepreneur and Milei before and after Milei made his Libra promotion post on X.

The contents of the calls have not been disclosed, the Times reported.

Libra collapse triggers legal action

After the Libra token collapsed, Argentine lawyers filed fraud charges against Milei and there were also calls for his impeachment. In Argentina, fraud can carry a prison sentence ranging from one month to six years.

Cointelegraph said it contacted Argentina’s presidential office for comment.

Investor losses and Milei’s promotion

In February 2025, Milei posted on X promoting the Libra token as a way to grow Argentina’s economy by funding small businesses and startups.

The token surged before losing more than 96% of its value from its peak, costing investors around $251 million. Milei later deleted his posts, prompting accusations of a possible rug pull.

Milei denies involvement

Milei denied wrongdoing, saying he was only highlighting a private venture and had no involvement in the project. In a post on X, he said: “A few hours ago, I posted a tweet, like so many infinite other times, supporting an alleged private venture with which I obviously have no connection whatsoever.”

He added: “I wasn't aware of the details of the project, and after becoming aware of them, I decided not to keep promoting it, that's why I deleted the tweet.”

Federal investigation and prior ethics finding

Following the Libra collapse, federal prosecutors launched an investigation that has named Milei as a person of interest. The case remains ongoing.

Argentina’s Anti-Corruption Office cleared Milei last June of violating public ethics rules, finding that his post was personal rather than made in his capacity as president.

Draft document in March update

In a March update, a judicial investigation uncovered a draft document on crypto lobbyist Mauricio Novelli’s phone suggesting a possible $5 million agreement connected to Milei’s promotion of the Libra token.

The draft note was reportedly written three days before Milei posted about the Libra token on X, though it does not specify who would receive the funds.