What is the Libra token controversy involving Javier Milei?

The controversy centres on Argentina’s President Javier Milei promoting the Libra token, which later collapsed. New evidence suggests he had multiple phone calls with a project-linked entrepreneur, raising questions about his claimed lack of involvement.

What do the new call logs reveal about Javier Milei?

Prosecutors found records showing seven phone calls between Milei and an entrepreneur tied to the Libra token. These calls happened around the time he promoted the token on social media.

Did Javier Milei admit involvement in the Libra project?

No, Milei has denied any involvement in the project. He said he was only supporting a private initiative and deleted his post after learning more about it.

How much did investors lose in the Libra token collapse?

Investors lost at least $251 million after the token dropped more than 96% from its peak. The sharp rise and fall have led to accusations of a potential rug pull.

Why are there fraud allegations against Javier Milei?

Lawyers have filed fraud complaints, arguing that Milei’s promotion may have influenced investors. However, he has not been formally charged and remains a person of interest in the investigation.

What is the current status of the investigation?

A federal investigation is ongoing, with Milei under scrutiny but not charged. Authorities are examining his role and any potential links to the project’s operators.

What is the significance of the reported $5 million agreement?

A draft document found on a lobbyist’s phone suggested a possible $5 million deal related to the token promotion. It is unclear who would have received the funds, making this a key point of investigation.

How did the Libra token gain attention so quickly?

The token surged after Milei promoted it as a way to support Argentina’s economy and small businesses. His public endorsement likely drove rapid investor interest.

Milei call logs raise fresh Libra token questions

Written by BloombergPublished Apr. 7 2026Last Updated Apr. 7 2026

New call logs reviewed by prosecutors suggest Argentine President Javier Milei had multiple phone conversations with an entrepreneur linked to the Libra token around the time he promoted it.

The logs, cited by The New York Times, show seven calls before and after Milei posted about the token, raising questions about his claim of having no involvement.

“A few hours ago, I posted a tweet… supporting an alleged private venture with which I obviously have no connection whatsoever,”

Milei said, denying ties to the project.

The Libra token surged after the promotion before crashing more than 96%, resulting in losses of at least $251 million for investors.

The incident has triggered fraud allegations and political backlash, including calls for impeachment, while Milei maintains he was unaware of the project’s details.

A federal investigation remains ongoing, with Milei named as a person of interest but not formally charged.

Earlier findings also pointed to a draft document suggesting a possible $5 million agreement tied to the token’s promotion, further intensifying scrutiny around the case.

At the time of reporting, Libra price was $0.003211.