BEARISH 📉 : Call logs show Milei phoned Libra-linked entrepreneur during token promotion
Milei’s calls tied to Libra promo. NYT-reviewed logs show at least seven calls with a project-linked entrepreneur the night he hyped the token.
Prosecutors obtained the call records in an Argentine inquiry. The contacts happened before and after Milei’s Feb 14, 2025 post on X. The call contents are unknown, and no charges were filed over the calls as of now. Source referenced via a public summary post by SolanaFloor citing NYT’s review here.
His post drove a rapid spike, then the token crashed. The pair traded up sharply after the endorsement, then fell more than 96% from peak. Price action is visible on TradingView here.
Prosecutors and analysts say the pattern matches a coordinated liquidity pull. They point to heavy insider concentration at launch and outsized profits in a small set of wallets, consistent with foreknowledge of the presidential post. Context on the probe’s themes and timing was summarized by The Economist here.
Investigators also cite a draft agreement found on a lobbyist’s iPhone. The Feb 11, 2025 document allegedly outlines a $5 million payment structure linked to Milei’s promotional activity, with staged tranches and a consulting contract tie-in. A Feb 16 note reportedly set a crisis-communications plan. These documents are described in the article by Coinspeaker here.
Key figures reported in the same article:
- Market cap peaked near $4 billion within hours of the post
- Drawdown exceeded 96% from the top
- About 86% of investors took losses, affecting ~114,410 wallets
- Estimated aggregate losses $251–$400 million
- 36 wallets profited over $1 million, with top gains $70–$100 million
All as compiled by Coinspeaker here and charted price action on TradingView here
Legal track. Argentine lawyers have filed fraud charges tied to the promotion, with statutes carrying one month to six years of prison. Lawmakers have floated impeachment calls. Courts are reviewing evidence and potential subpoenas. Reported by Coinspeaker here.
Source: TradingView