An investigation conducted in Argentina revealed that President Javier Milei had phone calls in 2025 with important figures connected to the LIBRA token project. Although the LIBRA token rapidly gained value after its launch, it collapsed in a short time, causing great losses to investors. It was determined that millions of dollars were lost after the collapse of the project, and eight wallets linked to the token made significant profits.
Allegations against Milei and the investigation carried out
Javier Milei has been the President of Argentina since 2023. Milei, known for his breakthroughs in the field of economy in the past, announced his support for the LIBRA token with a post on social media, and the popularity of the project increased significantly.
The federal prosecutor’s office launched an investigation against both the president and Mauricio Novelli, a well-known name in the cryptocurrency industry. As part of the investigation, it was determined that Milei had seven consecutive phone calls with Novelli on the night the LIBRA token was introduced. There is no clear information about the content of the meetings.
A committee established in the Argentine parliament evaluated Milei’s “fundamental contribution” to the project and recommended that this situation be examined separately by the parliament. Congress is expected to consider the president’s role in the project from a legal perspective.
Phone records and payment claims are on the agenda
In a report published in March, a document found on Novelli’s phone alleged that Milei was involved in a $5 million payment agreement in exchange for promoting the LIBRA token. No material basis for these claims has yet been shared with the public.
It was reported that a series of phone calls took place between Milei and Novelli on the night when the LIBRA token started trading on the stock exchanges. Additionally, although the LIBRA token briefly exceeded $4 billion in market value when it first began trading, it lost more than 90 percent of its value immediately afterwards, with a total outflow of $107 million from eight wallets detected.
In June last year, the Argentine Anti-Corruption Office concluded that Milei did not violate public ethics rules in the process. It was stated that the sharing was considered a personal opinion.
Another remarkable development in the judicial process was that President Milei’s government closed down a special unit established to investigate allegations of corruption. This decision created public controversy as it came right after a judge ordered the bank records of the president and his sister to be examined.
