New evidence in Libra probe renews questions about Milei involvement

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

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

The contents of those calls remain unknown, according to the Times. 

The collapse of the Libra token has seen Argentine lawyers hit Milei with fraud charges and there were also calls for his impeachment. Fraud can attract a prison sentence of between one month and six years in Argentina.

Cointelegraph has contacted Argentina’s presidential office for comment.

Libra investors lost at least $251 million 

In February 2025, Milei made a post 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 has denied any wrongdoing in promoting the short-lived token, saying he was merely highlighting a private venture and had no involvement in the project.

“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 said in a post on X. 

“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 into Libra collapse ongoing

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 and found his post was personal rather than in his capacity as president. 

Related: Argentina turns up the heat in Libra scandal with sweeping asset freeze

In a recent 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 just three days before Milei posted about the Libra token on X, but it does not specify who would receive the funds.

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