New forensic reports and leaked court documents show years of dollar payments from crypto Libra (LIBRA) lobbyist Mauricio Novelli to Javier Milei and his inner circle, well before the memecoin collapsed.
Dollar Payments For A Crypto Scandal
Thirteen months after Argentina and the entire crypto world was shaken by the accusations of insider trading against the President of Argentina, Javier Milei, new uncovered evidence shows references to thousands of dollars Novelli had paid the libertarian since 2021, back when he was a congressman, for teaching classes and promoting Novelli’s investment consulting firm, Argentinian outlet La Nación reported yesterday.
A selfie of Novelli and Milei, taken in 2024. Source: La Nación.
Messages and audios recovered by prosecutors reveal that Novelli financed the payouts with crypto, mainly selling USDT and other assets for cash and then delivering physical dollars labeled as the “usual” amount for Milei and associated influencers: monthly payments of around $2,000 during Milei’s time as deputy, later rising to $4,000 routed to his sister and chief of staff, Karina Milei, once he became president in 2023.
A Long List Of New LIBRA Case Findings
The new evidence comes from the forensic analysis of Novelli’s phone and it adds to the long list of revelations regarding the case that have been exposed since last week. On March 14, local outlet El Destape reported the finding of a document that show coordinated calls and messages between Milei, Karina Milei, strategist Santiago Caputo and Libra promoters in the minutes before and after Milei posted the Libra smart contract on X in February 2025. A seized “5 million memo” from Novelli’s notes app describes a potential USD 5 million package (tokens or cash) for Milei’s social‑media promotion and political backing of Libra, framing him as a central “asset” in the project, though no signed contract has surfaced.
A memo outlining a public statement intended to quell the scandal also surfaced. Written in Spanish and dated February 16, 2025, the statement was likely a narrative designed for Milei to share on his social media or to use later in the interview he was scheduled to have the following day with Jonatan Viale, Argentinian outlet Clarín claims.
Additional documents reveal multiple agreements between Novelli and U.S. entrepreneur Hayden Mark Davis, detailing a strategy to leverage Milei’s image and online reach to legitimize Libra.
When Crypto Turmoil Turns Into High Political Stakes
In February 2025, Milei promoted the $LIBRA token on X as a project to fund Argentinian entrepreneurs, triggering a 1,300% spike and then a violent crash that left late buyers nursing heavy losses of as much as $100 million. The episode sparked criminal complaints, a congressional inquiry and allegations that the president used his office to pump a high‑risk crypto asset.
Milei’s original X’s post promoting the cryptocurrency. Source: The Kobeissi Letter.
Opposition deputies in Argentina’s lower house have called a new press conference and are moving to reactivate the special Libra commission in Congress after the latest leaks, now accusing Milei of being a “necessary participant” in a premeditated crypto scam. Representative Maximiliano Ferraro (CC), chairman of the Investigative Committee, stated:
We want to be very clear. Nothing will save them. This evidence confirms the president’s political responsibility and his deliberate involvement. We believe they will have to answer to the courts and this Congress.
The presidency maintains its line that Milei only shared Libra “in good faith” and was not fully informed about the project’s details, while officials dismiss media leaks as biased parts of a flawed case file. The Libra affair hits just as Argentina tries to present itself as a crypto hub, with policymakers debating how far to go in formalizing digital‑asset rules and bank participation.
For traders, the lesson is clear: politically branded tokens like Libra carry extreme risk, while more established crypto and stablecoin rails are likely to remain the preferred instruments for hedging local macro volatility.
At the moment of writing, BTC’s trades for $70k on the daily chart. Source: BTCUSDT on Tradingview
Cover image from Perplexity, BTCUSD chart from Tradingview
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