Argentine President Linked to $5M Libra Token Deal Amid Ongoing Investigation

An investigation has been launched into payments and communications related to the promotion of the Libra token in Argentina.

A draft $5 million deal, reportedly written on February 11, 2025, outlines a total payment plan divided into three segments: an initial payment of $1.5 million, a second payment tied to a public endorsement of crypto entrepreneur Hayden Davis on X, and a consulting contract with President Milei and his sister Karina for blockchain or AI services.

Forensic analysis revealed that Argentine President Mauricio Milei exchanged five messages with lobbyist Novelli at the exact moment he posted the Libra token contract on X, coinciding with a rapid market surge. The token's value temporarily reached $4 billion before collapsing by 94% in the following hours, affecting over 44,000 investors.

Authorities have frozen Hayden Davis's assets and are evaluating whether the draft agreement was executed. The investigation remains ongoing as prosecutors review recovered communications, asset records, and other digital evidence to clarify any financial arrangements linked to the Libra token promotion.