New forensic findings from the phone of crypto lobbyist Mauricio Novelli have revealed a draft document suggesting a possible $5 million agreement connected to Argentine President Javier Milei’s promotion of the Libra token, according to local media reports.
The document, recovered from Novelli’s iPhone during a judicial investigation into the Libra crypto scandal, outlines a three-part payment structure totaling $5 million. Screenshots of the note surfaced after expert materials held by prosecutor Eduardo Taiano since November were made public, Argentine outlet El Destape reported.
The draft note was reportedly written in English on Feb. 11, 2025, just three days before Milei posted about the Libra token on X. “Hello friends, this is the final agreement discussed with H,” the text begins, which is believed to refer to crypto entrepreneur Hayden Davis.
The document then details the payment structure. “$1.5M of liquid tokens or cash as an advance. $1.5M in liquid tokens or cash = Milei announces on Twitter that his advisor is Hayden Davis/Kelsier/the Davis family. $2M in tokens or cash = contract signed in person with Milei for blockchain/AI consulting for the Argentine government and/or Javier Milei and review with Javier and Karina,” the text reads.
Notably, the draft note does not specify who would receive the funds.
The case centers on Libra, a memecoin that gained traction in February 2025 after Milei briefly promoted Davis in a social-media post as a blockchain and AI adviser. Within hours, the token surged and then crashed, wiping out about $250 million from more than 40,000 retail investors.
Related: Argentina turns up the heat in Libra scandal with sweeping asset freeze
Another note outlines crisis message after scandal
Investigators also recovered a separate note drafted on Feb. 16, 2025, two days after the Libra controversy erupted online. The message appears to outline a public statement intended to calm the situation.
“This is what I want for the tweet. This is the only thing that saves him, me, and us,” the note’s translation from Spanish reads. The draft message then states support for the Libra project while denying any financial involvement and attributing accusations of wrongdoing to political opponents.
Authorities believe the message may have been prepared for Milei to post on social media or reference in an interview, according to local media reports.
Novelli was in Dallas during the token’s launch. Call records show he communicated with Milei and his sister Karina shortly before and after the president’s social media post about the token. As the controversy spread online, Novelli also held multiple calls with presidential adviser Santiago Caputo while the government managed the crisis.
Related: Argentine exchange Ripio bets on peso stablecoins amid cautious 2026 outlook
Libra hit $4 billion after Milei post before crashing
In February last year, Milei posted on X about the Libra (LIBRA) memecoin, which briefly reached a $4 billion market capitalization before plunging 94% within hours.
The crash wiped out hundreds of millions in investor funds and prompted opposition lawmakers to call for Milei’s impeachment. Milei later said he had merely “spread the word” about the token rather than promoted it.
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