Argentine authorities are reviewing phone records linked to Javier Milei as part of an investigation into the LIBRA token and its launch activity.
The probe focuses on whether Milei had prior involvement in the LIBRA project, which launched in February 2025 and saw a rapid price surge followed by a sharp collapse.
Records show Milei made several calls with entrepreneur Mauricio Novelli around the time of the token launch, both before and after publicly posting about it.
The token’s price reportedly surged within minutes of Milei’s post before crashing, wiping out an estimated $250 million in market value and raising concerns about a potential rug pull.
Investigators are also examining links to figures including Hayden Davis, with scrutiny focused on whether insiders exited positions ahead of the collapse.
Messages recovered during the probe suggest possible discussions of payments tied to endorsements, though no confirmed transfers have been established and all parties deny wrongdoing.
Milei has not been charged but remains under investigation, with the case intensifying scrutiny on how public officials interact with cryptocurrency projects and markets.
At the time of reporting, Libra price was $0.003211.