"Allegations that Argentina’s president reached a $5 million deal in return for promoting the ‘LIBRA coin’"

Allegations have surfaced that a document exists outlining a payment agreement worth $5 million tied to the promotion of Argentina President Javier Milei’s memecoin ‘LIBRA’.

According to El Destape, an Argentine investigative outlet cited by The Block on the 15th (local time), a document detailing the alleged agreement was found on the mobile phone of cryptocurrency lobbyist Mauricio Novelli. The document was reportedly secured during an analysis of seized devices by DATIP, a digital forensics unit under the Argentine prosecutor’s office.

The report said the document was written on Feb. 11, 2025—three days before President Milei mentioned the LIBRA coin on social media platform X. It reportedly included the phrase “final agreement discussed with H” and described a three-stage payment structure totaling $5 million.

Specifically, it called for an upfront payment of $1.5 million in tokens or cash, plus an additional $1.5 million if President Milei publicly mentioned Hayden Davis on X as his adviser. It also reportedly included a condition that $2 million would be paid if President Milei signed a blockchain and artificial intelligence (AI) advisory contract.

El Destape reported that the “H” referenced in the document appears to refer to Hayden Davis, a key figure in the LIBRA project and CEO of Kelsier Ventures. However, the document did not clearly specify who the actual recipient of the payments would be.

The report explained that the structure suggests the funds could be paid to President Milei, his sister Karina Milei, and intermediaries linked to Davis’ side.

The forensic analysis also reportedly confirmed call records among people involved around the time of the LIBRA coin’s launch. It said records show Milei spoke with Novelli multiple times immediately before and after he mentioned LIBRA on X at 7:01 p.m. on Feb. 14, 2025.

LIBRA’s market capitalization briefly topped $4 billion after Milei’s post, but its price later plunged more than 90%. Eight wallets linked to the project reportedly cashed out about $107 million.

President Milei has repeatedly denied the allegations. Argentina’s Anti-Corruption Office concluded in June last year that the post was a personal statement rather than an official act and that there was no breach of public ethics rules. However, a federal criminal investigation and a class-action lawsuit filed in the United States are still ongoing.