Draft $5 million agreement linked to Milei’s Libra promotion discovered on a lobbyist’s phone.

Draft $5 Million Agreement Tied to President Milei’s Libra Promotion Unearthed on Lobbyist’s Phone

Buenos Aires, March 15 2026 – Forensic analysis of the iPhone belonging to Argentine crypto‑lobbyist Mauricio Novelli has produced a draft document that appears to outline a US$ 5 million payment scheme linked to President Javier Milei’s public endorsement of the Libra memecoin. The material, obtained by investigators handling the ongoing “Libra scandal,” was disclosed by local outlet El Destape and has reignited debate over the political and financial dimensions of the episode.

Key points from the recovered note

• Date and language – The draft, written in English on 11 February 2025, is introduced with a greeting that references “the final agreement discussed with H,” a name investigators associate with crypto entrepreneur Hayden Davis.
• Three‑stage payment structure –
  1. US$ 1.5 million as an upfront advance, payable in either liquid tokens or cash.
  2. Additional US$ 1.5 million contingent on Milei publicly acknowledging Davis (or his family) as an advisor on his X (formerly Twitter) account.
  3. A final US$ 2 million to be transferred once a face‑to‑face contract is signed for blockchain/AI consulting services to the Argentine government or directly to Milei and his sister Karina.
• Recipient not identified – The note stops short of naming the ultimate beneficiary of the funds, a detail that authorities say will be central to further inquiries.

Adjacent evidence

A second memo, dated 16 February 2025—two days after the Libra controversy first went public—appears to be a draft of a crisis‑management tweet. The text, translated from Spanish, emphasizes protecting “him, me, and us,” while pledging support for the Libra project, denying any financial involvement, and attributing accusations to political opponents. Investigators believe the passage may have been intended for Milei’s own use on social media or in an interview.

Call logs recovered from Novelli’s device show multiple conversations with Milei, his sister Karina, and presidential adviser Santiago Caputo in the hours surrounding the president’s X post about Libra. Novelli was in Dallas at the time of the token’s launch, a fact that aligns with the timeline of the recorded communications.

Background: Milei’s Libra tweet and market fallout

In early February 2025, President Milei posted a brief endorsement of the Libra token on X. Within minutes, the memecoin’s market capitalisation surged to roughly US$ 4 billion before collapsing by more than 90 % in a matter of hours. The rapid swing erased hundreds of millions of dollars in investor value and prompted opposition lawmakers to call for impeachment proceedings. Milei later recanted, stating he had merely “spread the word” rather than actively promoted the token.

Legal and political context

The Argentine prosecutor’s office, led by Eduardo Taiano, has been pursuing the “Libra scandal” since November 2025, when it first froze assets tied to the token and ordered a broader financial audit. The newly released draft documents add a layer of alleged quid‑pro‑quo that could implicate the president, his close family members, and high‑level advisers in a covert financing arrangement.

Legal experts caution that, while the draft suggests intent, it does not constitute a finalized contract. “Proving a binding agreement would require corroborating evidence—such as signed documents, bank transfers, or witness testimony,” said María Gómez, a Buenos Aires‑based attorney specializing in financial crimes. “At this stage, the material is indicative of potential misconduct but remains circumstantial.”

Analysis

1. Political risk for Milei – If investigators can link the draft to actual fund flows, the president could face charges ranging from illicit enrichment to abuse of office. Even absent criminal conviction, the perception of impropriety may erode public support and embolden parliamentary opponents.
2. Impact on Argentina’s crypto regulatory environment – The episode underscores the challenges of aligning emerging digital‑asset promotion with existing financial oversight. Regulators may tighten disclosure requirements for public officials who engage with crypto projects, especially those lacking a clear regulatory status.
3. Reputational damage for the Libra token – The memecoin, already labeled a “rug pull” after its market‑cap collapse, now faces intensified scrutiny over possible political manipulation. Investor confidence in similar community‑driven tokens could suffer, prompting a shift toward assets with greater institutional backing.
4. Lobbyist‑to‑government pipelines – Novelli’s communications suggest a relatively direct line between a private crypto lobbyist and the highest echelons of government. This could trigger calls for stricter lobbying registration and transparency rules in Argentina’s fintech sector.

Key takeaways

• Forensic evidence from a lobbyist’s smartphone reveals a draft US$ 5 million payment plan tied to President Milei’s Libra endorsement.
• The proposed payment schedule links financial disbursements to specific public actions by the president and to a future consulting contract.
• No explicit recipient is named in the draft, leaving investigators to determine the ultimate flow of funds.
• A separate note drafted shortly after the scandal suggests preparation of a crisis‑management message, indicating pre‑emptive planning.
• Legal ramifications remain uncertain; the documents constitute alleged intent rather than a finalized, enforceable agreement.
• The controversy may prompt tighter regulatory oversight of crypto promotion by public officials and increased scrutiny of lobbying practices in Argentina.

The investigation is ongoing, and authorities have not yet indicated whether formal charges will be filed. As the situation develops, stakeholders in both the political and cryptocurrency spheres will be watching closely for further revelations.

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