Milei's Libra Promotion Under Scrutiny: Leaked Document Suggests $5 Million Deal

Key Takeaways

• A draft document found on crypto lobbyist Mauricio Novelli's phone suggests a $5 million deal linked to Javier Milei's promotion of the Libra token.
• The document outlines a three-part payment structure, potentially involving crypto entrepreneur Hayden Davis.
• Investigators also discovered a separate note outlining a public statement aimed at damage control following the Libra controversy.
• Milei's past promotion of the Libra token, which briefly reached a $4 billion market cap before crashing, has drawn criticism and calls for impeachment.

A forensic examination of crypto lobbyist Mauricio Novelli's iPhone has unearthed a draft document that proposes a $5 million arrangement tied to Argentine President Javier Milei's previous advocacy for the Libra cryptocurrency. The discovery, stemming from a judicial investigation, casts a shadow over the president's past involvement with the now-infamous token.

The recovered draft, reportedly written in English on February 11, 2025, details a potential three-stage payment plan totaling $5 million. The document, according to Argentine media reports, begins with a greeting and references a final agreement discussed with an individual identified as 'H,' believed to be crypto entrepreneur Hayden Davis.

The proposed payment structure outlined in the document specifies an initial $1.5 million in liquid tokens or cash as an advance. A further $1.5 million would allegedly be paid once Milei announced on Twitter that his advisor was Hayden Davis/Kelsier/the Davis family. The final $2 million installment would be contingent upon a signed contract with Milei for blockchain and AI consulting for the Argentine government and/or Javier Milei himself, subject to review with Javier and Karina Milei.

Adding to the intrigue, investigators also uncovered a separate note, created shortly after the Libra controversy erupted. This message appears to outline a prepared public statement, seemingly designed to mitigate the fallout from the situation. The translated text suggests a message of support for the Libra project while simultaneously denying any financial involvement and attributing accusations to political opponents.

Authorities suspect that this draft statement may have been intended for Milei to use on social media or in an interview to quell the rising concerns. Call logs indicate that Novelli communicated with Milei and his sister Karina around the time of the president's social media post about Libra. He also engaged in multiple calls with presidential advisor Santiago Caputo as the government managed the unfolding crisis.

Milei's previous endorsement of the Libra memecoin on X (formerly Twitter) led to a brief surge in its market capitalization, reaching $4 billion before plummeting 94% within a matter of hours. The resulting financial losses prompted opposition lawmakers to call for Milei's impeachment. Milei has since stated that he only “spread the word” about the token, rather than actively promoted it.

Why it matters

The emergence of this draft agreement raises serious questions about potential conflicts of interest and undisclosed financial arrangements surrounding President Milei's promotion of the Libra token. The investigation's findings could have significant political and legal repercussions, potentially leading to further scrutiny of Milei's administration and its dealings within the cryptocurrency sector. The incident underscores the importance of transparency and ethical conduct in the intersection of politics and the rapidly evolving digital asset landscape.