Javier Milei Implicated in Alleged $5M Deal Over Libra Token Promotion, Investigation Shows

A document recovered from the phone of crypto lobbyist Mauricio Novelli outlines an alleged $5 million payment structure linked to Argentine President Javier Milei’s promotion of the Libra memecoin, according to an investigative report published March 14, 2026, by Argentine outlet El Destape.

The file, dated February 11, 2025—three days before Milei’s since-deleted X post endorsing the Solana-based token—was discovered during a forensic review conducted by Argentina’s Directorate of Technological Support for Criminal Investigations (DATIP) under the Public Prosecutor’s Office. The document references a figure believed to be Kelsier Ventures CEO Hayden Davis, who has admitted to controlling wallets holding over $100 million in proceeds from the token.

Call logs from Novelli’s seized devices show extensive communication between Novelli, Milei, his sister Karina Milei, and presidential adviser Santiago Caputo in the hours surrounding the token’s launch and subsequent collapse, which saw Libra lose over 90% of its value after briefly reaching a $4 billion market capitalization.

Document Details: Alleged Three-Tier Payment Structure

Agreement Terms

The recovered document, written in English, opens with “Hello friends, this is the final agreement discussed with H”—with “H” believed by investigators to refer to Hayden Davis, CEO of Kelsier Ventures and a central figure in Libra’s creation. The file outlines a three-part payment arrangement:

• $1.5 million: Advance payment in liquid tokens or cash

• $1.5 million: Contingent on Milei publicly announcing Hayden Davis as his adviser on X

• $2 million: Conditional upon a formal blockchain and AI consulting contract signed in person by Milei, with review by both the president and Karina Milei

Intended Recipients

The document does not explicitly specify who would receive the payments. According to El Destape’s reporting, the $5 million total appears to correspond to amounts intended for the Milei siblings and intermediaries connecting them to Davis’s operation, including Novelli, Manuel Terrones Godoy, and Sergio Morales.

The figure aligns with previous statements from Argentine entrepreneur Diógenes Casares, who publicly claimed he had been told a senior government official received a payment of that amount in connection with Libra. Casares has not been summoned as a witness in the criminal case despite requests from plaintiffs.

Communication Records: Call Patterns Surrounding Token Launch

Pre-Launch Coordination

Forensic call records from Novelli’s devices reveal intensive communication surrounding Libra’s launch on February 14, 2025:

• 7:01 PM: Milei posted about Libra on X. In the minutes immediately before and after, Novelli and Milei exchanged multiple calls between 6:54 PM and 7:03 PM

• 7:17 PM: Novelli reached Karina Milei, who called him back for a conversation lasting over two minutes

Post-Collapse Crisis Communications

As Libra’s price cratered that evening, the circle of contacts expanded:

• Between approximately 10 PM and midnight, Novelli spoke with presidential adviser Demian Reidel, KIP Protocol’s Julian Peh, and senior Milei adviser Santiago Caputo

• Calls between Novelli, Caputo, and Peh continued past midnight as the crisis deepened

At 12:36 AM on February 15, KIP Protocol issued a statement claiming Libra was a success and that Milei had no involvement in its development. Two minutes later, Milei posted that he had merely shared what he believed was a private venture and had no connection to the project.

Draft Crisis Statement Discovered

Pre-Written Containment Messaging

A separate note dated February 16, 2025, also recovered from Novelli’s phone, appears to contain a draft public statement for Milei intended to manage the fallout. The note reportedly includes language expressing support for Libra while denying financial involvement, preceded by the phrase “this is the only thing that saves him, me, and us.”

Contradictions to Milei’s Public Claims

Forensic analysis previously reported by Argentine outlet La Nación found that Novelli and Milei exchanged at least five messages at 7:01 PM on February 14—the exact moment the Libra contract address was posted on X. Experts who testified before Argentina’s Congress confirmed the contract address was not publicly available online at the time Milei shared it, contradicting his claim that he found it on the internet.

Investigation Context and Legal Status

Congressional Findings

An Argentine congressional committee found in November 2025 that Milei provided “essential collaboration” for the Libra project and recommended Congress evaluate whether his actions constituted misconduct in office.

Ongoing Legal Proceedings

• Criminal investigation: A federal probe remains ongoing, treating the case as potential transnational fraud

• Anti-Corruption Office clearance: In June 2025, Argentina’s Anti-Corruption Office cleared Milei of violating public ethics rules, concluding his post was personal rather than official

• Task force dissolution: Milei’s government disbanded its own investigative task force probing the scandal in May 2025, days after a judge ordered the president’s and his sister’s bank records unsealed

• U.S. litigation: A class action lawsuit related to Libra remains active in United States courts

Admission by Davis

Kelsier Ventures CEO Hayden Davis has previously admitted on camera that his team “sniped” Libra at launch and acknowledged controlling wallets holding over $100 million in proceeds from the token. Eight wallets linked to the project cashed out $107 million, according to previous reporting.

Frequently Asked Questions

What does the recovered document allege about President Milei and Libra?

The document, dated February 11, 2025—three days before Milei’s promotion of Libra—outlines a three-part $5 million payment structure. It describes $1.5 million as an advance, $1.5 million contingent on Milei announcing Hayden Davis as his adviser on X, and $2 million tied to a formal blockchain consulting contract signed by Milei and reviewed with his sister Karina Milei. The document references a figure believed to be Davis, CEO of Kelsier Ventures.

What communication records connect Milei to the Libra launch?

Forensic call logs show Milei and lobbyist Mauricio Novelli exchanged multiple calls in the minutes immediately before and after Milei posted about Libra at 7:01 PM on February 14, 2025. Novelli then spoke with Karina Milei at 7:17 PM. As Libra’s price collapsed that evening, Novelli communicated extensively with presidential advisers Demian Reidel and Santiago Caputo, as well as KIP Protocol’s Julian Peh, with calls continuing past midnight.

What is the current legal status of the Libra investigation?

A federal criminal investigation remains ongoing in Argentina, treating the case as potential transnational fraud. A congressional committee found in November 2025 that Milei provided “essential collaboration” for the project. While Argentina’s Anti-Corruption Office cleared Milei of ethics violations in June 2025, his government disbanded its investigative task force in May 2025 after a judge ordered bank records unsealed. A U.S. class action lawsuit is also proceeding.