A new public opinion poll in Argentina demonstrates significant dwindling trust in President Javier Milei, who rose to power as a libertarian leader amidst polarizing support and controversy. A Zuban Córdoba survey, which included 1,600 participants between March 12 and 14, demonstrates that 57.6% of Argentinians currently distrust their president with a 95% confidence level and a 2.4% margin of error. The LIBRA cryptocurrency scandal involving alleged actions by Milei preceded this substantial shift in public sentiment, which caused widespread investor financial losses.

The Zuban Córdoba report reveals an escalating disillusionment with the current administration as negative perceptions increase each month. Negativity continues to increase at a slow yet steady pace without any visible limit. The government’s tone and evaluation continue to consolidate as various problematic issues begin to rise on the political agenda. The report described ongoing bloodshed as the recurring theme throughout recent months, which clearly demonstrates the growing crisis among the people.

More than a month following the cryptocurrency scandal, Milei faced investigators who asked about trust levels towards him discovered that only 36% still maintained their trust. With 6.4% of respondents undecided about their level of trust, the majority clearly expressed distrust. Milei’s reputation and leadership standing suffer greatly from this revelation. A majority of 58.5% of respondents now view him negatively, whereas only 41.1% have a positive perception. The public approval of Milei’s administration reflects this widespread negative sentiment. Respondents show a strong disapproval of his leadership at 58.4% but maintain support at 41.6%. The statistics demonstrate the expanding rift in Argentine society about Milei’s political strategies and leadership style.

LIBRA Scandal and Its Impact on Milei’s Credibility

Public trust began to waver when the LIBRA cryptocurrency scandal surfaced on February 14. Milei used a post on X (formerly Twitter), which was later removed, to endorse a newly introduced cryptocurrency. The token achieved a market capitalization of more than $4 billion within a few hours. The token experienced a brief period of rapid growth, which ended abruptly when early investors, including supposed insiders, sold their shares, resulting in a value drop exceeding 95%.

Blockchain analytics company Nansen disclosed that insiders and automated trading programs gained $180 million in profits while 86% of LIBRA investors sustained $251 million in losses. The economic disaster forced thousands of supporters who backed Milei into a state of shock.

Milei responded to the scandal by asserting that he only provided information about LIBRA while denying any endorsement intentions for the project. Milei’s explanation failed to mitigate public anger and legal investigations. The Argentine federal authorities started an investigation into President Milei after multiple criminal complaints were lodged against him and his associates following the event.

Though his reputation suffered substantial damage, La Libertad Avanza maintains its leading position in election polls before the October 26 vote. Polls show La Libertad Avanza party maintaining 36.7% support while its opposition Unión por la Patria coalition stands at 32.5%. The scandal has significantly damaged Milei’s reputation and public trust, yet failed to destroy his political movement. The future elections will evaluate how well he can sustain his political relevance while battling increasing public skepticism and legal problems.

Current events demonstrate how unstable Argentine public opinion remains and the obstacles Milei confronts while steering through the nation’s intricate political environment. His presidency’s course and Argentine political future depend on how his economic strategies, public statements, and LIBRA scandal investigations interact. The survey findings reveal a decisive moment for Milei’s political journey by showing how public confidence remains unstable and how his political backing can quickly change.