The latest study demonstrates a significant drop in Argentine citizens’ trust toward President Javier Milei, whose libertarian leadership has sparked both strong backing and increasing disputes. The Zuban Córdoba survey from March 12 to 14 sampled 1,600 individuals and produced results with a 95% confidence level and a 2.4% margin of error, demonstrating that 57.6% of Argentinians no longer trust their president. Milei’s alleged role in the LIBRA cryptocurrency scandal triggered a severe decline in public support because of the substantial investor losses that followed.

The Zuban Córdoba report reveals a pronounced rise in public disappointment with the government. Negativity is spreading at a consistent but gradual pace without any signs of stopping. The shift in public evaluation towards the government becomes more pronounced as additional complicated political matters appear on the agenda. The report described months of continuous bloodshed as a dominant theme that reveals how the population feels increasingly trapped in a crisis.

More than one month following the cryptocurrency scandal, only 36% of survey respondents reported that they trusted Milei. The remaining 6.4% of respondents did not make a decision which resulted in a majority expressing distrust. Milei’s credibility faces substantial damage from this issue which creates doubts about his leadership abilities. Milei’s public image has declined as 58.5% of people surveyed now have a negative perception of him, while only 41.1% hold a positive view. Milei’s administration approval levels reflect the same negative public sentiment. The majority of respondents at 58.4%, have expressed their disapproval of his leadership, while 41.6% remain in his support. The data highlights the expanding gap in Argentine society regarding Milei’s leadership and policies.

The LIBRA Cryptocurrency Scandal and Its Fallout

The LIBRA cryptocurrency scandal began on February 14 and led to the current erosion of public trust. The deleted message from X which Milei once announced his support for the new cryptocurrency, has created controversy. The token reached a market capitalization above $4 billion within a few hours. The token’s value experienced a brief meteoric rise followed by a dramatic decline of over 95% because early investors and alleged insiders sold their holdings.

According to blockchain analytics firm Nansen, insiders and bots generated $180 million in profits while 86% of LIBRA investors incurred losses, which added up to $251 million. The financial disaster forced thousands of investors who supported Milei to face its significant impact.

Milei responded to the scandal by stating he shared information about LIBRA without endorsing the project to separate himself from the controversy. The explanation failed to calm public anger or legal examination. The aftermath of the event triggered multiple criminal complaints against Milei and connected individuals, while authorities started a federal investigation into his involvement.

Political Landscape and Future Implications

Milei’s political party, La Libertad Avanza, retains its position at the top of election polls even though his reputation has sustained damage leading up to the October 26 vote. The party enjoys a 36.7% backing while the opposition coalition Unión por la Patria receives 32.5% support. Milei’s movement stays intact despite the scandal that has damaged his reputation and reduced public trust. The forthcoming elections will test his political relevance under the pressures of increasing public skepticism and ongoing legal battles.

The current state of affairs highlights the instability of Argentine public opinion and the difficulties President Milei encounters while steering Argentina’s intricate political environment. The combination of his economic policy decisions and public statements, along with the LIBRA scandal inquiries, will determine both his presidential path and Argentina’s political future. The survey findings reveal a pivotal moment in Milei’s political trajectory and expose how fragile public trust remains, as well as the possibility of swift changes in voter support.