New revelations have emerged in the ongoing Libra token scandal, further linking Argentine President Javier Milei to the controversial cryptocurrency project. According to local newspaper Clarin, a confidential agreement signed two weeks before Libra's token generation event establishes a formal relationship between Milei and Hayden Davis, CEO of Kelsier Ventures, who was instrumental in the token's launch.
The document, signed in January 2025, names Davis as a blockchain and artificial intelligence advisor to the Argentine president. It states that Davis would provide "consulting services in blockchain and artificial intelligence to facilitate the understanding, analysis, implementation, and impact of innovative technological solutions, contributing to taking advantage of the opportunities offered by the digital economy in Argentina." While the agreement does not explicitly mention Libra, it directly ties the Argentine government to Kelsier Ventures just weeks before the token's launch — a link President Milei has publicly denied until now.
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Maximiliano Ferraro, former president of the congressional commission that investigated Libra and called for Milei to be probed for misconduct last year, stated that the document proves Libra "was not casual nor isolated" and that there was a formal and direct relationship between Hayden Davis and the president. Ferraro declared: "The President lied to Congress and the Argentine people, and signed confidential agreements with national and international fraudsters, without evaluating or being cautious about the responsibility that comes with the presidential office."
He insisted that this evidence should help move the case forward in national courts. "Congress did its part. Now courts must do theirs," he concluded. The Libra token, which was promoted as a way to aid Argentine companies, turned into a billion-dollar rugpull shortly after its launch, devastating investors and triggering a major political scandal in Argentina.
The Argentine Congress published a report last year declaring the Libra scheme was not isolated and recommending that Milei be investigated for misconduct. The newly revealed agreement provides concrete evidence of pre-launch coordination, potentially strengthening the case against the president. Legal experts suggest that if the document is authenticated, Milei could face impeachment or criminal charges, though the process is expected to be lengthy and politically charged.
The controversy continues to erode public trust in Argentina's government and its handling of cryptocurrency-related matters. The local crypto market saw slight volatility following the news, as investors digest the implications of the deepening scandal.