Argentine President Javier Milei. Photo: EFE.
This Monday, March 16, Argentina’s justice revealed significant new evidence in the ongoing investigation into the $Libra cryptocurrency scandal, which directly involves President Javier Milei.
The newly introduced evidence points to an alleged $5 million agreement tied to the digital asset’s launch, implicating not only the President but also his sister, Karina Milei, who serves as the Secretary-General of the Presidency, and a lobbyist identified as Novelli.
This development intensifies investigations into the cryptocurrency’s collapse, which caused millions in losses after Milei’s social media endorsement.
Judicial sources confirmed the discovery of approximately 20 phone calls on Novelli’s phone, made both before and after President Milei’s public promotion of the cryptocurrency on his social media platforms in 2025. These calls also reportedly occurred during the crucial period when $Libra’s value dramatically collapsed and the Head of State subsequently deleted his endorsement post, suggesting direct communication during critical phases of the alleged scheme.
The ongoing investigation, which Argentina’s justice confirmed is examining a note mentioning the “presumed $5 million agreement linked to the $Libra launch”, is revealing a sophisticated alleged payment scheme related to the public dissemination of the digital asset.
This intricate arrangement purportedly involved three distinct payment installments, with the execution of these payments partially conditioned on the use of the presidential figure for $Libra’s promotion.
According to forensic computer analyses, Javier Milei, Karina Milei, and lobbyist Novelli allegedly agreed to a first payment of $1.5 million, payable either in $Libra cryptocurrency or cash. This initial sum was reportedly followed by a second payment of a similar amount, specifically conditioned on President Milei making a public post on his social media channels promoting the Libra cryptocurrency.
Maximiliano Ferraro, presidente de la comisión investigadora de $Libra en Diputados, señaló que “la realidad ha superado a la ficción y las mentiras que el Presidente intentó instalar son más que evidentes”. https://t.co/i8K8oYe2RS pic.twitter.com/gif8yebvPK
— MDZ Online (@mdzol) March 16, 2026
The text reads: “Maximiliano Ferraro, President of the $Libra in the Diputies Commission of inquiry, noted that “reality has surpassed fiction and the lies the president tried to install are more than evident.”
In addition to these two substantial payments, a third installment of $2 million was allegedly linked to the eventual signing of an advisory agreement. This final agreement could potentially have served as a mechanism to legitimize or otherwise justify the aforementioned payments, attempting to provide a veneer of legality to the transactions.
The alleged complexity of this payment structure suggests a concerted effort to conceal the true nature of the arrangement and the direct financial benefits derived from the presidential endorsement. The investigation also extends to Prosecutor Eduardo Tatiano, who is being scrutinized for allegedly having access to all case information but failing to take appropriate measures, such as interrogating the individuals involved, raising questions about potential official complicity or negligence in the handling of this high-profile case.
In a parallel but distinct development, a commission from the Chamber of Deputies is conducting its own independent investigation into the matter. However, this legislative body has reportedly been denied access to the judicial case file, which is currently lodged in the court of Magistrate Marcelo Martinez de Giorgi. This denial of access to critical documentation raises concerns about transparency and potential obstacles to a thorough and comprehensive investigation, especially given the involvement of high-ranking government officials.
The lack of full cooperation between judicial and legislative branches could impede efforts to uncover the full scope of the alleged illicit activities and ensure accountability.
Milei’s Recommendation
The $Libra scandal originated on February 14, 2025, when Argentina’s President Javier Milei publicly recommended the $Libra cryptocurrency via his social media platforms.
The digital asset had been created a mere three minutes prior to his endorsement, a fact that immediately raised red flags for market observers. Furthermore, $Libra exhibited highly concentrated control, with an astonishing 82% of its circulating supply held by just five digital wallets. This extreme concentration made the cryptocurrency’s value highly susceptible to manipulation by a select few.
This text reads: “President Javier Milei promoted on his X account this Friday a cryptocurrency called $Libra. After the announcement, the cryptocurrency experienced an initial furor, but then plummeted within hours.”
Following Milei’s promotion, $Libra’s valuation experienced a meteoric rise, skyrocketing from 0.01 cents to an astounding $4.7. However, this inflated value proved unsustainable, collapsing dramatically just hours later after its principal holders withdrew nearly $100 million.
In the wake of the crash, President Milei deleted his social media post during the early hours of Saturday, arguing that he had been unaware of the project’s true nature. This swift action and subsequent denial of knowledge have drawn intense criticism and fueled suspicions of complicity.
In response to the massive financial losses incurred, over 200 investors in the United States filed a lawsuit, prompting U.S. justice authorities to open their own investigation. This parallel probe aims to determine the responsibilities arising from the cryptocurrency’s promotion, potentially extending legal scrutiny to anyone involved in endorsing what appears to be a classic “pump-and-dump” scheme.
The combined efforts of both Argentinean and U.S. judicial systems underscore the seriousness and international dimensions of this alleged fraud, with significant implications for Milei’s administration and the broader cryptocurrency market.
Javier Milei Appears in NY Complaint About $LIBRA Cryptocurrency Fraud
These new revelations deepen the grave concerns surrounding President Milei’s involvement in the $Libra cryptocurrency scandal, highlighting a disturbing pattern of alleged corruption and disregard for public trust, with the exploitation of political power for private financial gain. The reported $5 million payment agreement and the intricate scheme to leverage the presidential office for personal financial gain represent a severe betrayal of the Argentinean people.
This alleged manipulation of digital assets for speculative profit, at the expense of ordinary investors, epitomizes the unchecked avarice often associated with neoliberal economic policies that prioritize individual enrichment over collective well-being. Such actions not only undermine the integrity of state institutions but also expose the vulnerability of developing nations to financial schemes that exacerbate existing inequalities.
(Telesur) by Laura V. Mor
