A new public survey shows a steep drop in trust toward Argentine President Javier Milei, which poses a major hurdle for his government’s future. The Zuban Córdoba poll surveyed 1,600 respondents from March 12 to 14 with a 95% confidence level and a 2.4% margin of error, which found that 57.6% of Argentinians now distrust Milei. Investor losses from the LIBRA cryptocurrency scandal have directly preceded this swift change in public opinion.

The survey illustrates increasing public disappointment with the Milei government. Negative sentiment is building at a gradual yet consistent pace with no upper limit. The public’s evaluation of the government becomes more unified as additional problematic issues come to the forefront of political discussions. The Zuban Córdoba report described the recent months as a series of bloodbaths that reflect the growing public crisis.

A survey carried out one month following the cryptocurrency scandal revealed that 36% of respondents continued to trust Milei’s leadership. With 6.4% of respondents undecided about their stance toward Milei, the majority of people expressed distrust towards him. The cryptocurrency scandal inflicted substantial damage on Milei’s credibility and diminished public confidence in his leadership abilities. The public’s perception of him has declined, as 58.5% of respondents now view him negatively, while only 41.1% still maintain favorable opinions of him. The administration of President Milei receives a disapproving response from 58.4% of the public while 41.6% show their support. The data reveals a widening fracture among Argentine citizens about Milei’s leadership style and political decisions.

Key Insights:

Significant Distrust: A 57.6% majority of the Argentinian population currently expresses distrust toward President Milei.

Declining Trust: The LIBRA scandal led to only 36% of respondents expressing trust in Milei.

Negative Perception: The majority of respondents display a negative view of Milei, with 58.5% expressing their disapproval.

Government Disapproval: 58.4% of respondents disapprove of Milei’s administration.

Continuing Party Support: Election polling shows that Milei’s La Libertad Avanza party remains in front of the competition.

Financial Loss: Investors lost 251 million dollars due to the LIBRA cryptocurrency scandal.

The LIBRA cryptocurrency scandal that led to public confidence erosion began on February 14. A post from Milei promoting a new cryptocurrency, which he posted on X (formerly Twitter), has been deleted. The token reached a market capitalization of over $4 billion within hours of its launch. The token’s value nosedived by more than 95% after early investors, together with suspected insiders, sold their shares.

Nansen’s blockchain analytics revealed that insiders and bots profited $180 million while 86% of LIBRA investors endured losses totaling $251 million. Thousands of investors who supported Milei experienced severe financial devastation from the impact.

Milei tried to separate his identity from the project by stating that his involvement was limited to sharing information about LIBRA and not giving it his endorsement. The explanation provided by Milei failed to reduce the public anger or stop the ongoing legal investigations. Following the incident, Argentine authorities initiated a federal investigation into the president’s actions while multiple criminal complaints targeted Milei and his related individuals.

Milei’s political party, La Libertad Avanza, maintains its position at the forefront of election polls despite the harm to his personal reputation. The La Libertad Avanza party holds 36.7% support in comparison to Unión por la Patria’s 32.5% among opposition coalitions. The scandal has damaged Milei’s reputation and diminished public trust, yet failed to fully destroy his political movement. The forthcoming elections represent a decisive moment for him to prove his political viability while contending with increasing public skepticism and legal obstacles.

Public opinion in Argentina remains unstable, which creates substantial obstacles for Milei as he works through Argentina’s intricate political environment. His economic policies and public statements, along with the LIBRA scandal investigations, will determine both his presidential path and Argentina’s political future. The survey findings demonstrate a decisive moment in Milei’s political journey by exposing both the fragile public trust and the possibility of swift changes in political backing. The next few months will play a vital role in showing if Milei can rebuild the Argentine people’s trust and stabilize his political career.