Phone Records Expose Argentine President's Ties to Collapsed Libra Token

New call logs obtained by prosecutors investigating the Libra collapse paint a damning picture of Argentine President Javier Milei's involvement in the crypto debacle—directly contradicting his public denials. Here's what the evidence reveals.

The Phone Records Don't Lie

Call logs seen by The New York Times show seven separate phone conversations between Milei and an unnamed entrepreneur behind the Libra token before and after the president's February 2025 X post promoting the cryptocurrency. While the substance of those calls remains undisclosed, their timing is explosive: they occurred around the exact moment Milei publicly endorsed the project to Argentine voters.

This fresh evidence throws a wrench in Milei's narrative that he was a passive supporter with no real connection to the venture. The numbers suggest otherwise.

The Damage: $251 Million in Losses

When Milei promoted Libra as an economic catalyst—positioning it as a funding mechanism for small businesses and startups—the token rallied. The rally proved catastrophic for retail investors. The crypto crashed over 96% from peak valuations, obliterating approximately $251 million in investor capital.

Milei's response? Delete the posts and claim ignorance. "I wasn't aware of the details of the project, and after becoming aware of them, I decided not to keep promoting it," he stated on X. But those seven phone calls suggest a more coordinated operation than casual promotion.

Legal Jeopardy Intensifies

Argentine prosecutors haven't been shy about pursuing this case aggressively. Fraud charges have already been filed against Milei, with impeachment calls gaining traction. Under Argentine law, fraud convictions carry prison sentences ranging from one month to six years—serious real-world consequences.

The case remains under federal investigation with Milei designated as a person of interest. Argentina's Anti-Corruption Office cleared him in June 2024 of ethical violations, but that conclusion now looks questionable given the newly surfaced call logs.

The $5 Million Question

Perhaps most incriminating: a draft document discovered on crypto lobbyist Mauricio Novelli's phone references a possible $5 million financial agreement connected to Milei's Libra promotion. Written three days before the X post went live, this note raises obvious questions about payment arrangements. The draft doesn't specify recipients, but the proximity to Milei's promotion is suspicious timing in the world of crypto analysis.