Post a Tweet for $5 Million? The Price Tag for a President's Endorsement of a Meme Coin Exposed
Argentine President Javier Milei is accused of accepting a $5 million bribe to promote the meme token LIBRA on his X (formerly Twitter) account, according to a report by local media El Destape. The allegation is based on evidence recovered from the phone of a crypto lobbyist, Mauricio Novelli, who represented KIP Protocol, the entity behind LIBRA.
The scandal erupted after Milei posted a tweet on February 15, 2025, endorsing LIBRA as a project aimed at supporting Argentine entrepreneurs. The token's market cap surged to $4.56 billion within 30 minutes, but it collapsed after insiders executed a "rug pull," cashing out over $100 million. Milei later deleted the tweet, claiming he was misled and that the post was intended to support private enterprise.
Investigators uncovered a purported agreement between Milei and Hayden Davis, the alleged mastermind behind the scheme. The deal involved a $5 million payment—$1.5 million upfront, another $1.5 million after Milei publicly endorsed Davis as an advisor, and a final $2 million for a blockchain consulting contract. Phone records also showed frequent communication between Novelli and Milei’s office around the time of the tweet.
Despite initial investigations by anti-corruption offices and Congress, no conclusive action was taken. The report suggests Milei was aware of the token’s speculative nature but proceeded for financial gain. Davis defended the scheme in an interview, arguing that meme token trading is a “casino” where such practices are expected. The incident highlights growing concerns over the ethical boundaries and regulatory challenges within the crypto industry.
比推03/17 12:11
