Zuban Córdoba’s recent survey indicates that public trust in Argentine President Javier Milei has significantly diminished, with most participants now expressing distrust due to his connection to the LIBRA cryptocurrency scandal. A poll conducted from March 12 to 14 surveyed 1,600 individuals and showed increasing dissatisfaction with the current government.

With 95% confidence and a 2.4% margin of error the study found that distrust in the libertarian leader has reached 57.6%. The LIBRA cryptocurrency debacle resulted in significant financial losses for multiple investors which triggered this sudden drop in public trust.

The Zuban Córdoba report states that negativity is expanding at a gradual yet continuous rate without showing signs of reaching its peak. As additional challenges arise on the political scene the government’s tone and evaluation are increasingly solidified. Multiple consecutive disasters define the narrative of recent months. The unflattering review signals increasing public dissatisfaction with Milei’s leadership.

Survey results revealed that only 36% of participants retained trust in President Milei after the crypto scandal emerged. The data shows that 6.4% of respondents have yet to decide which shows how much uncertainty exists among the population. The data reveals substantial damage to both Milei’s reliability and his reputation among the public.

A considerable number of survey respondents, totaling 58.5%, now view the president negatively. Conversely, only 41.1% maintain a favorable opinion. The administration receives parallel levels of public disapproval as 58.4% reject his leadership while 41.6% support him.

The LIBRA cryptocurrency scandal broke out on February 14 when Milei promoted the new token through a post on X (formerly Twitter) that was subsequently deleted. The cryptocurrency reached a market capitalization above $4 billion almost immediately, but its value dropped more than 95% after alleged insiders and early investors quickly sold their shares.

According to blockchain analytics firm Nansen insiders and trading bots profited $180 million from the scheme. A staggering 86% of LIBRA investors experienced collective losses totaling $251 million. Thousands of investors who supported Milei faced severe financial loss due to the fallout.

Milei tried to separate himself from the project by stating he only shared information about LIBRA without offering any endorsement. Milei’s explanation has failed to reduce public anger and has not lessened legal investigations.

Multiple criminal complaints against Milei and his associates triggered the federal investigation by Argentine authorities into his purported involvement in the scandal. As legal consequences arising from the LIBRA scandal develop further, they increase the strain on President Milei’s challenged administration.

Legal investigations surrounding Milei and damage to his public reputation have failed to stop his La Libertad Avanza party from maintaining its lead position in election polls before the October 26 vote. Unión por la Patria stands at 32.5% support in contrast to La Libertad Avanza, which holds 36.7%. The scandal has damaged Milei’s personal credibility, but his political movement remains intact.

The survey results reveal Milei’s unstable political position while showing how his ability to maintain public trust faces mounting difficulties. The president faces an uncertain path to restore public trust as the LIBRA scandal investigation continues to reveal more information. The forthcoming election represents a decisive moment that will determine if Milei can endure ongoing challenges and maintain his political power in Argentina.