Newly obtained call records have renewed scrutiny of Argentine President Javier Milei’s involvement with the Libra token. Prosecutors investigating the cryptocurrency’s collapse provided the logs, which The New York Times reviewed, and the records reportedly show seven phone calls between Milei and an entrepreneur linked to the Libra project around the time the president promoted the token on X. The substance of those calls has not been disclosed.
Milei publicly endorsed the token in a February 2025 post on X, presenting it as a mechanism to stimulate Argentina’s economy by helping to finance small businesses and startups. The token initially spiked after his post but later plunged more than 96% from its peak, wiping out roughly $251 million in investor value. After the crash, Milei removed his posts, prompting accusations from critics that the promotion may have contributed to a so-called rug pull.
Milei has denied any improper involvement, saying he merely highlighted a private venture and had no connection to the project. He maintained he was unaware of the token’s details and deleted his post after learning more. Argentina’s Anti‑Corruption Office previously concluded, in a decision last June, that Milei’s post was personal and did not violate public ethics rules.
Federal prosecutors have opened a criminal inquiry into the token’s collapse and have identified Milei as a person of interest; the investigation is ongoing. Separate complaints filed by Argentine lawyers accuse him of fraud, and some lawmakers and commentators have called for impeachment. Under Argentine law, a fraud conviction can carry a prison term ranging from one month to six years.
A recent judicial update said investigators found a draft note on the phone of crypto lobbyist Mauricio Novelli that referenced a possible $5 million arrangement tied to Milei’s promotion of Libra. The note, reportedly written three days before the X post, did not make clear who would receive any funds.
Cointelegraph has contacted Argentina’s presidential office for comment. Cointelegraph says it follows independent, transparent reporting standards and encourages readers to verify information independently.