Argentina President Milei Gets Pulled Into the Libra Case: Call Records Show a 2000% Token Surge in 40 Minutes, With Investors Losing About $250 Million

Gate News reports a message that The New York Times reported indicates a link between Argentine President Javier Milei’s call records and the Libra cryptocurrency project rug pull case, which is reportedly worth about $250 million. Court documents show that Milei made multiple calls with entrepreneur Mauricio Novelli on the night that the Libra token went live on February 2025 and in the days before and after, drawing investigation attention. The calls took place around the time Milei promoted the Libra token on social media, raising doubts about his earlier claims that he was not directly involved in the project.

According to Argentine outlet Pagina/12, these call records show that both sides maintained ongoing contact during periods when the token’s price surged and crashed, with some call durations being particularly long. Previously, CoinDesk disclosed that Libra co-founder Hayden Davis had privately claimed he could influence Milei’s inner circle, but he later denied paying Milei or any of his relatives. The investigation also found that while Milei was a member of Congress, he may have regularly received payments and had financial ties with individuals associated with supporting the Libra project, but there is currently no conclusive evidence indicating that he signed an agreement.

During the incident, Milei’s social media posts drove the Libra token price to surge more than 2000% within 40 minutes. Then, as early holders cashed out, the price fell rapidly, causing investors an estimated $250 million loss. Milei later admitted he had supported the Libra token, but said he did not know the project’s details, and therefore deleted the related posts. The presidential office has not yet provided comments on the incident, but previously officials denied any connection between the president and the Libra project.

Overall, these call records, text messages, and social media activity strengthen the possibility of potential coordination between Milei and the Libra project, drawing attention from cryptocurrency regulators and legal scrutiny. The investigation is ongoing and could have an impact on Argentine politics and international crypto markets.