Fresh Documentation in Libra Investigation Raises Questions About Milei's Role
Documentation reviewed by The New York Times indicates Argentina's president participated in seven telephone conversations with the creator of the Libra token.
Based on records secured by prosecutors in Argentina who are examining the token's implosion, and which were reviewed by The New York Times, there were purportedly seven separate telephone conversations between Milei and the unidentified entrepreneur both preceding and following his promotional post about Libra on X.
What was discussed during these conversations continues to be undisclosed, the Times reports.
The implosion of the Libra token has resulted in Argentine legal professionals filing fraud accusations against Milei, with additional demands emerging for his removal from office through impeachment. Under Argentine law, fraud violations can result in imprisonment ranging from one month up to six years.
Argentina's presidential office has been contacted by Cointelegraph for a statement.
Libra token investors suffered losses of no less than $251 million
During February 2025, Milei published a post on X endorsing the Libra token as a mechanism for expanding Argentina's economic landscape through the financing of small enterprises and emerging businesses.
The token experienced a dramatic increase in value before plummeting more than 96% from its highest point, resulting in approximately $251 million in investor losses. Milei subsequently removed his promotional posts, leading to allegations of what could potentially be a rug pull.
Milei has rejected any allegations of misconduct related to his promotion of the token, which existed only briefly, stating he was simply drawing attention to a private business initiative and maintained no involvement whatsoever in the project's operations.
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. 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.
Javier Milei on X
Federal probe into Libra token collapse continues
In the aftermath of the Libra collapse, federal prosecutors initiated an investigative process that has identified Milei as a person of interest. This case continues to be under active investigation.
Last June, Argentina's Anti-Corruption Office exonerated Milei of any violations pertaining to public ethics regulations and determined that his post was made in a personal capacity and not as the sitting president.
During a recent update in March, a judicial inquiry revealed a preliminary document discovered on the mobile device of crypto lobbyist Mauricio Novelli that hints at a potential $5 million arrangement linked to Milei's endorsement of the Libra token.
The preliminary note was purportedly composed merely three days prior to Milei's posting about the Libra token on X, though it fails to identify who the intended recipient of these funds would be.