The Libra token investigation in Argentina has taken a significant turn after authorities reportedly recovered a draft document describing a $5 million economic arrangement allegedly linked to securing support from President Javier Milei for the people behind the project. The draft was said to have been found during a forensic review of the phone of Mauricio Novelli, a crypto entrepreneur connected to both Milei and the Libra launch.
Draft outlines three-stage payment structure
According to the reported contents, the $5 million would be paid in three tranches to an unidentified third party. The first payment, $1.5 million, would be made upfront. A second payment of $2.5 million would follow after Milei publicly announced Hayden Davis, CEO of Kelsier Ventures, as an adviser on X. The final $2 million would be tied to the signing of a consulting contract with the Argentine government covering artificial intelligence and blockchain services.
The draft was described as the “final agreement” discussed with “H,” widely interpreted as a reference to Davis. Earlier reporting on the proposed consulting contract said Davis would provide advisory services in blockchain and AI aimed at helping the Argentine government understand, analyze, and implement innovative technological solutions tied to the digital economy.
Phone records also point to post-collapse messaging
Investigators also reportedly found another note on Novelli’s phone related to crisis communications after Libra collapsed. Milei had previously deleted a post that shared the token contract. The note suggested language for a public statement emphasizing support for Libra’s vision, while also stating that Milei had no financial interest in the project but trusted the people involved.
The Libra launch affected tens of thousands of investors, with losses reaching millions of dollars, making the case one of the most closely watched crypto controversies in Argentina. The newly revealed phone evidence suggests the inquiry has entered a more decisive stage.
Political and judicial pressure may intensify
Further action may also emerge from the political sphere. Maximiliano Ferraro, former head of the congressional commission that examined Libra, said he will hold a press conference next Monday to present what he described as the institutional steps he considers necessary in both the legislative and judicial arenas. That signals the case could move beyond public controversy and market fallout into deeper formal scrutiny.