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. 

Now, according to local media reports citing court sources, computer forensics experts from Argentina’s Public Prosecutor’s Office have identified draft versions of a “confidential agreement” allegedly signed by Milei and Davis on January 30, 2025 — two weeks before LIBRA’s launch and subsequent crash. 

The drafts were discovered on at least one electronic device seized from Argentine lobbyist Mauricio Novelli, a central figure in the case and a close associate of the president since the end of the COVID-19 pandemic.

Federal 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. 

The existence of such drafts stands in tension with Milei’s public denials. In multiple interviews following the scandal in February 2025, the president rejected claims that he had signed any agreement with Davis and sought to distance himself from the LIBRA operation. 

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.

The Datip report further underscored Novelli’s central role in the LIBRA affair. Investigators described him as a key intermediary connecting multiple actors. 

His communications included exchanges with President Milei and Karina Milei, as well as with Davis, Terrones Godoy, Morales, and Julian Peh, the Singaporean CEO of KIP Protocol.

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. 

Among the missing exchanges were communications between Novelli and Cardano (ADA) founder Charles Hoskinson. After the LIBRA collapse, Hoskinson publicly accused Novelli and Terrones Godoy of demanding five-figure dollar payments in exchange for arranging a meeting with President Milei during the Tech Forum. 

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 

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