A new chapter has unfolded in the ongoing LIBRA cryptocurrency scandal, as fresh judicial findings suggest that the relationship between Argentine President Javier Milei and LIBRA co-creator Hayden Mark Davis may have been closer than previously acknowledged.
The controversy traces back to February 14, 2025, when President Milei publicly promoted the LIBRA token. The endorsement triggered a rapid surge in the cryptocurrency’s price, followed by a collapse that wiped out an estimated $251 million in investor funds.
LIBRA Deal Amid Milei DenialsFederal prosecutor Eduardo Taiano ordered the seizure of Novelli’s devices as part of the investigation. Experts later reported that the draft agreement appeared in exchanges between Novelli and Davis, suggesting efforts to finalize the document before it was formally executed.
Further details emerged in a January 9 ruling issued by the Directorate of Technological Support for Criminal Investigations (Datip), a specialized forensic unit within the Public Prosecutor’s Office.
According to the ruling, several copies of the draft “confidential agreement” were located during the forensic review of Novelli’s communications with Davis. The exchanges appeared to relate to preparations for the document’s eventual signing by the president.
Alleged Payment Requests SurfaceThe Datip report further underscored Novelli’s central role in the LIBRA affair. Investigators described him as a key intermediary connecting multiple actors.
However, the forensic examination was hindered by significant data deletion. Experts informed Prosecutor Taiano that numerous messages, files, and even entire conversations had been permanently erased from devices belonging to Novelli and other defendants.
According to Hoskinson, they suggested that “magical things would happen” if he agreed. He declined. Investigators were unable to recover those deleted conversations in full.
Featured image from BBC, chart from TradingView.com
