LIBRA token faces scrutiny as Milei $5m pact probed

LIBRA forensics show draft $5m Javier Milei deal; signature, payments unverified

Forensic analysts from Argentina’s Public Ministry Prosecutor’s Office (DATIP) located drafts of a “confidential agreement” on a device tied to promoter Mauricio Novelli that reference a proposed $5 million arrangement linked to Javier Milei’s promotion of the LIBRA token, as reported by La Nación. The materials include a draft dated January 30, 2025, in the pre-launch window for the token, but neither a binding presidential signature nor any related payment has been verified.

Investigators also recovered a letter-of-intent file known as “LOI_KELSIER.docx,” which positioned Milei as an adviser on blockchain and AI. The presence of multiple draft copies suggests negotiations occurred, yet the evidentiary gaps around execution and money flows remain central.

Why it matters: possible Public Ethics Law 25.188 violations

A congressional commission concluded that Milei used his presidential role to amplify a private venture and flagged potential breaches of Argentina’s Public Ethics Law 25.188, according to the Buenos Aires Herald. The report also described meetings between Milei and LIBRA promoters and noted that official facilities were allegedly used, with references to facilitation by Karina Milei.

Political reactions have sharpened scrutiny of the ethics dimension. “Either he’s not very intelligent or he’s a kind of corrupt,” said Diana Mondino, former foreign minister, in remarks reported by El País.

The forensic work continues to frame the factual record while Congress’s findings shape the policy debate. Milei has denied knowledge of any signed agreement and argued he merely “spread” information about LIBRA rather than endorsing it, according to HuffPost España.

Legal analysts note that drafts, letters of intent, and related memos can be probative of intent if corroborated, although they are not dispositive on their own, as reported by AP news. Pending verification of a signature and money trail, any enforcement outcomes remain speculative.

Evidence timeline and unresolved questions in the LIBRA case

Key documents recovered by DATIP and what they imply

The recovered draft agreement and the “LOI_KELSIER.docx” file indicate structured planning around LIBRA’s public promotion before launch. Their timing, content, and placement on a promoter’s device suggest premeditation rather than incidental contact. These artifacts, however, require corroboration to establish execution and benefit.

Unverified items: signature status, payments, and Karina Milei’s role

No conclusive evidence has surfaced that Milei signed a binding contract, and alleged payments have not been verified via banking records or on-chain analysis. The role of Karina Milei is under examination in connection with access and meeting logistics. An anti-corruption body’s separate review of one social post treated it as an economist’s message, not an official act, as reported by CoinDesk. These issues remain open in the institutional record.

FAQ about LIBRA token scandal

Did Milei sign any binding contract and have any payments been verified on-chain or via banking records?

No signed contract has been verified, and no payments have been confirmed through banks or on-chain data. Inquiries are ongoing.

What did the Argentine congressional commission conclude and which laws could apply, including Public Ethics Law 25.188?

The commission said Milei used presidential authority to boost a private token and flagged possible breaches of Public Ethics Law 25.188. Its findings are not court rulings.