Argentinian President Milae Accused of $5 Million Scheme with LIBRA Token

By: crypto insight|2026/03/16 05:00:01

Key Takeaways:

President Milae is alleged to have facilitated a $5 million scam involving LIBRA tokens.
The scheme was revealed through a document found on Mauricio Novelli’s phone.
Payments were contingent upon social media promotions and contract signings by Milae.
Communication records imply coordinated efforts during the LIBRA token’s launch and subsequent crash.

WEEX Crypto News, 2026-03-15 18:05:42

The Allegations Against President Milae

Argentinian President Milae stands accused of orchestrating a $5 million fraudulent scheme centered around the promotion of the LIBRA token. This scandal, reported by Argentine outlet El Destape, hinges on a financial arrangement detailed in a document uncovered on the phone of Mauricio Novelli. Forensic experts discovered this document, which offers a rare insight into the alleged financial machinations linking the President directly to the dubious token promotion.

Financial Breakdown of the Alleged Scheme

The revelation centers on a three-stage payment plan, documented to have been devised on February 11, 2025. This strategic timing coincided suspiciously with the launch of the LIBRA token merely three days later. The financial structure involved:

Initial Advance of $1.5 Million: This installment could be rendered in tokens or direct cash payment, likely to secure early-stage promotion.
A Subsequent Payment of $1.5 Million: This payment was contingent upon President Milae’s public endorsement by naming Hayden Davis, CEO of Kelsier Ventures, as her advisor.
The Final $2 Million Payment: This required President Milae and her sister Karina to ink a direct contract tied to future blockchain and AI government consulting.

Unveiling the Timeline of Events

In the lead-up to the public announcements and promotional push, Milae’s documented call activity exposes a pattern that hints at conspiracy. Her communication with Novelli peaked strategically in the moments surrounding the critical tweet, suggesting a concerted effort to manipulate public perception and market interest in the LIBRA token.

Crisis Coordination: Damage Control Activities

The unfolding drama did not stop with the revelation of initial payments and endorsements. As the token’s value plummeted the evening after Milae’s endorsement, urgent communications ensued. Records indicate a series of late-night discussions involving advisor Santiago Caputo. This network of calls paints a vivid picture of crisis management, with top-level figures scrambling to contain the fallout and orchestrate a response plan.

Investigations and Scrutiny

Further scrutiny into call logs reinforces the web of connections at play. Notably, Milae’s repeated and coordinated contact with her sister Karina and advisor Santiago Caputo reveals an intertwined effort to navigate the ensuing downfall.

Broader Impact on Cryptocurrency Trust

In the wake of such controversies, the crypto landscape once again finds itself under the microscope. Incidents like these bring into question the transparency and integrity of token promotions, financial investments, and the ethical boundaries breached in pursuit of profit.

Trust and Transparency in Focus

To be honest, trust in digital currencies hinges as much on security as on ethical leadership exemplified by crypto pioneers. When figures of authority exploit their platforms for personal gain, it casts a shadow over the market’s credibility, scaring off potential investors and eroding public trust.

-- Price

The Role of Documented Evidence

The power of documented evidence, like the contract found on Novelli’s device, underscores the accountability mechanisms underpinning financial networks. As the investigation into Milae’s activities unfolds, the extent of her involvement will likely be determined by the factual weight of these documented exchanges.

Raising Questions on Contractual Legitimacy

Here’s the real deal: such documented contracts are vital as they determine both legal culpability and ethical deviation. The inclusion of contractual partnerships with her sister adds a familial layer, further muddying the waters of political transparency and ethical governance in the blockchain era.

Conclusion: Implications for Future Political and Economic Interfaces with Cryptocurrency

This evolving case points to the necessary evolution of compliance standards within the crypto industry. As Argentinian President Milae faces increased scrutiny, this serves as a cautionary tale about the potential misalignments between political power and financial incentives.

Institutional Reform and Regulations Ahead

Given the magnitude of this case, one could anticipate regulatory scrutiny intensifying, aimed at preventing future occurrences of power-driven financial scams. Institutions may need to reform policies to safeguard against similar misconduct by those in positions of power.

Frequently Asked Questions

What is the LIBRA token?

The LIBRA token is a cryptocurrency purportedly involved in a $5 million financial scheme linked to Argentinian President Milae. Its legitimacy is under question due to the nature of its promotion and the subsequent collapse in its market value.

How were these allegations against Milae discovered?

These allegations surfaced from a forensic discovery of a payment agreement document found on intermediary Mauricio Novelli’s phone, detailing financial transactions related to the token promotion.

How much financial gain was supposedly made in this scheme?

The total financial gain allegedly aimed for in this fraudulent scheme was pegged at $5 million, conditional on the President’s active participation in promoting the token.

What is being done to investigate President Milae’s involvement?

Ongoing investigations focus on about the contractual agreements, examination of call records, and cross-referencing of financial transactions to substantiate the allegations against Milae.

What impact does this scandal have on the crypto industry?

The scandal potentially damages the crypto market’s reputation, highlighting vulnerabilities in ethical endorsements and necessitating tighter regulatory oversight to protect investor interests.

On March 16, 2026, in Dallas, Texas, USA, CanGu Company (New York Stock Exchange code: CANG, hereinafter referred to as "CanGu" or the "Company") today announced its unaudited financial performance for the fourth quarter and full year ended December 31, 2025. As a btc-42">bitcoin mining enterprise relying on a globally operated layout and dedicated to building an integrated energy and AI computing power platform, CanGu is actively advancing its business transformation and infrastructure development.

2025 Full Year and Fourth Quarter Financial and Operational Highlights

• Financial Performance:

Total revenue for the full year 2025 was $688.1 million, with $179.5 million in the fourth quarter.

Bitcoin mining business revenue for the full year was $675.5 million, with $172.4 million in the fourth quarter.

Full-year adjusted EBITDA was $24.5 million, while the fourth quarter was -$156.3 million.

• Mining Operations and Costs:

A total of 6,594.6 bitcoins were mined throughout the year, averaging 18.07 bitcoins per day; of which 1,718.3 bitcoins were mined in the fourth quarter, averaging 18.68 bitcoins per day.

The average mining cost for the full year (excluding miner depreciation) was $79,707 per bitcoin, and for the fourth quarter, it was $84,552;

The all-in sustaining costs were $97,272 and $106,251 per bitcoin, respectively.

As of the end of December 2025, the company has cumulatively produced 7,528.4 bitcoins since entering the bitcoin mining business.

• Strategic Progress:

The company has completed the termination of the American Depositary Receipt (ADR) program and transitioned to a direct listing on the NYSE to enhance information transparency and align with its strategic direction, with a long-term goal of expanding its investor base.

CEO Paul Yu stated: "2025 marked the company's first full year as a bitcoin mining enterprise, characterized by rapid execution and structural reshaping. We completed a comprehensive adjustment of our asset system and established a globally distributed mining network. Additionally, the company introduced a new management team, further strengthening our capabilities and competitive advantage in the digital asset and energy infrastructure space. The completion of the NYSE direct listing and USD pricing also signifies our transformation into a global AI infrastructure company."

"As we enter 2026, the company will continue to optimize its balance sheet structure and enhance operational efficiency and cost resilience through adjustments to the miner portfolio. At the same time, we are advancing our strategic transformation into an AI infrastructure provider. Leveraging EcoHash, we will utilize our capabilities in scalable computing power and energy networks to provide cost-effective AI inference solutions. The relevant site transformations and product development are progressing simultaneously, and the company is well-positioned to sustain its execution in the new phase."

The company's Chief Financial Officer, Michael Zhang, stated: "By 2025, the company is expected to achieve significant revenue growth through its scaled mining operations. Despite recording a net loss of $452.8 million from ongoing operations, mainly due to one-time transformation costs and market-driven fair value adjustments, the company, from a financial perspective, will reduce its leverage, optimize its Bitcoin reserve strategy and liquidity management, introduce new capital to strengthen its financial position, and seize investment opportunities in high-potential areas such as AI infrastructure while navigating market volatility."

Fourth Quarter 2025 Ongoing Operations Financial Performance

Revenue

The total revenue for the fourth quarter was $1.795 billion. Of this, the Bitcoin mining business contributed $1.724 billion in revenue, generating 1,718.3 Bitcoins during the quarter. Revenue from the international automobile trading business was $4.8 million.

Operating Costs and Expenses

The total operating costs and expenses for the fourth quarter amounted to $4.56 billion, primarily attributed to expenses related to the Bitcoin mining business, as well as impairment of mining machines and fair value losses on Bitcoin collateral receivables.

This includes:

· Cost of Revenue (excluding depreciation): $1.553 billion

· Cost of Revenue (depreciation): $38.1 million

· Operating Expenses: $9.9 million (including related-party expenses of $1.1 million)

· Mining Machine Impairment Loss: $81.4 million

· Fair Value Loss on Bitcoin Collateral Receivables: $171.4 million

Profit Situation

The operating loss for the fourth quarter was $276.6 million, a significant increase from a loss of $0.7 million in the same period of 2024, primarily due to the downward trend in Bitcoin prices.

The net loss from ongoing operations was $285 million, compared to a net profit of $2.4 million in the same period last year.

The adjusted EBITDA was -$156.3 million, compared to $2.4 million in the same period last year.

Full Year 2025 Ongoing Operations Financial Performance

Revenue

The total revenue for the full year was $6.881 billion. Of this, the revenue from the Bitcoin mining business was $6.755 billion, with a total output of 6,594.6 Bitcoins for the year. Revenue from the international automobile trading business was $9.8 million.

Operating Costs and Expenses

The total annual operating costs and expenses amount to $1.1 billion.

Specifically, they include:

· Revenue Cost (excluding depreciation): $543.3 million

· Revenue Cost (depreciation): $116.6 million

· Operating Expenses: $28.9 million (including related-party expenses of $1.1 million)

· Miner Impairment Loss: $338.3 million

· Bitcoin Collateral Receivable Fair Value Change Loss: $96.5 million

Profitability

The full-year operating loss is $437.1 million. The continuing operations net loss is $452.8 million, while in 2024, there was a net profit of $4.8 million.

The 2025 non-GAAP adjusted net profit is $24.5 million (compared to $5.7 million in 2024). This measure does not include share-based compensation expenses; refer to "Use of Non-GAAP Financial Measures" for details.

Financial Position

As of December 31, 2025, the company's key assets and liabilities are as follows:

· Cash and Cash Equivalents: $41.2 million

· Bitcoin Collateral Receivable (Non-current, related party): $663.0 million

· Miner Net Value: $248.7 million

· Long-Term Debt (related party): $557.6 million

In February 2026, the company sold 4,451 bitcoins and repaid a portion of related-party long-term debt to reduce financial leverage and optimize the asset-liability structure.

Stock Repurchase

As per the stock repurchase plan disclosed on March 13, 2025, as of December 31, 2025, the company had repurchased a total of 890,155 shares of Class A common stock for approximately $1.2 million.

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