A confidential agreement signed by Argentine President Javier Milei has surfaced, directly contradicting his administration’s defense regarding the ‘Libragate’ scandal. The document, revealed by opposition deputy Maximiliano Ferraro, shows Milei appointed Hayden Davis, CEO of the venture firm behind the failed token, as a government advisor in January 2025, just two weeks before the project’s catastrophic launch.
The revelation dismantles the narrative that Milei merely “spread the word” about the Solana-based memecoin $LIBRA as a passive observer. According to the filing, Davis, the 28-year-old head of Kelsier Ventures, was formally contracted to advise on “blockchain and artificial intelligence” matters. This establishes a direct institutional link between the Casa Rosada and the entity accused of executing a $251 million liquidity pull.
The document proves a formal and direct relationship… exposing that the President lied to Congress and the Argentine people.
The Timeline of a Rug Pull
The timeline is damning. The advisory pact was inked in late January 2025. On February 14, Milei promoted $LIBRA on X, driving the token’s market cap to nearly $4.5 billion within minutes. Kelsier Ventures allegedly used this liquidity event to snipe the supply, causing a 94% crash that wiped out thousands of retail investors.
Today, $LIBRA trades at $0.0029, effectively zero. The wallets associated with Davis and Kelsier remain under scrutiny for moving hundreds of millions in user funds through mixers, while the President faces renewed calls for impeachment.
Institutional Fallout
This is no longer just a memecoin casino story; it is a state-level governance crisis. Maximiliano Ferraro, former president of the investigative commission, stated the contract confirms premeditated coordination. The exposure of a paper trail between a G20 head of state and a known crypto operator forces regulators to treat ‘Libragate’ not as negligence, but potentially as state-sanctioned market manipulation.
