Report Claims $5M Payment Plan Linked to Libra Memecoin Promotion

• Probe finds document alleging a $5M payment plan linked to Milei’s Libra token promotion.
• Call logs show repeated contact between Milei and lobbyist Novelli around Libra launch.
• Libra briefly topped $4B market cap before crashing 90%, with $107M withdrawn by linked wallets.

Argentine investigators have recovered a document from the phone of a crypto lobbyist that outlines an alleged $5 million payment structure linked to President Javier Milei’s promotion of the Libra memecoin, according to a report by El Destape.

The file surfaced during a forensic examination of devices seized from lobbyist Mauricio Novelli and has become part of a broader inquiry into the token’s rise and collapse earlier in 2025. Authorities say the document was created on February 11, three days before Milei publicly mentioned the Solana-based Libra token on social media.

The recovered file reportedly describes a three-stage arrangement totaling $5 million connected to Libra’s promotion. Written in English, the document begins with the phrase “Hello friends, this is the final agreement discussed with H” and references a figure investigators believe to be Hayden Davis, the chief executive of Kelsier Ventures and a central figure in the Libra project.

According to the report, the payment plan included an initial $1.5 million advance delivered in liquid tokens or cash. A second $1.5 million payment was reportedly tied to Milei publicly announcing Davis as an adviser on X. 

The closing $2 million payment was described as contingent on a formal consulting agreement covering blockchain and artificial intelligence services, which would require Milei’s signature and review by both the president and his sister, Karina Milei.

The document does not specify the direct recipients of the funds. However, El Destape reported that the total amount appeared to correspond to payments intended for individuals connected to the president and for intermediaries involved in the Libra project, including Novelli, Manuel Terrones Godoy, and Sergio Morales.

Call Records Show Activity During Libra Launch

Forensic analysis of Novelli’s devices also uncovered call logs showing multiple communications between Novelli and Milei around the time the token was promoted. Milei posted about Libra at approximately 7:01 p.m. Argentine time on February 14, 2025.

Records reviewed in the investigation show the two exchanged several calls between 6:54 p.m. and 7:03 p.m. Shortly afterward, Novelli attempted to reach Karina Milei, who returned the call at 7:17 p.m. for a conversation lasting more than two minutes.

Later that evening, as Libra’s price began to fall, Novelli’s communications expanded to include presidential adviser Demian Reidel, Julian Peh of KIP Protocol, and senior adviser Santiago Caputo. According to the report, calls between Novelli, Caputo, and Peh continued past midnight as the situation unfolded.

Draft Message and Broader Investigation

Investigators also recovered a separate note dated February 16 that appears to contain a draft public statement intended for Milei. The document reportedly included language expressing support for Libra while denying financial involvement, preceded by the phrase “this is the only thing that saves him, me, and us.”

The Libra token reached a market capitalization above $4 billion following Milei’s social media post before losing more than 90% of its value. Blockchain data cited in earlier reports showed eight wallets associated with the project collectively withdrew about $107 million.

Related: Argentina’s Crypto President in Trouble: Milei Charged Over LIBRA Token Fail