Summary Points
- Argentine authorities are investigating President Javier Milei’s involvement with the LIBRA token, focusing on phone records linking him to the project’s launch activities.
- Phone logs show Milei had multiple calls with LIBRA promoters, Novelli and Davis, during the crucial launch window, raising questions about possible insider coordination.
- The LIBRA token’s price surged and then sharply collapsed, wiping out approximately $250 million, with investigators scrutinizing Milei’s communications for market manipulation clues.
- Messages suggest potential payments and incentives linked to Milei, but no charges have been filed; the case prompts broader debate on public officials’ engagement with digital assets.
Argentina is currently reviewing phone records related to President Javier Milei as part of a probe into the LIBRA token. These records are crucial because they may reveal Milei’s involvement during the token’s launch.
The investigation focuses on LIBRA, a cryptocurrency built on the Solana network that launched in February 2025. The token gained attention because Milei posted details about it on X, a social media platform, before the information was widely available.
Records show that Milei called the LIBRA team multiple times on the night the token launched. These calls began just before his post and continued as the token’s price surged and then dropped sharply. This pattern is prompting questions about whether his communication was connected to the market’s rapid changes.
Promoters of LIBRA include entrepreneur Mauricio Novelli and Hayden Davis of Kelsier Ventures. Some critics worry that early exits by insiders hint at a potential “rug pull,” which involves scammers taking money and disappearing.
After Milei’s tweet, LIBRA’s value jumped drastically but soon lost much of its worth. During the decline, roughly $250 million in market value was wiped out, raising concerns about market manipulation.
Milei has stated publicly that he knew nothing about the project’s details. He later deleted his post, emphasizing his lack of involvement. However, the phone logs suggest investigators are examining the timing of his calls more closely.
Authorities are also analyzing messages from other individuals connected to the project. Some messages refer to regular payments to Milei during his political career, although no transfers have been confirmed.
All parties involved deny any wrongdoing, and Milei has not been charged. Still, the investigation keeps public officials and regulators watching closely. It highlights how digital assets and cryptocurrencies are changing the landscape of financial and political interaction.
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