The latest public opinion survey from Argentina shows that President Javier Milei has lost significant public trust despite his libertarian background and controversial rise to power. Zuban Córdoba conducted the survey between March 12 and 14 with 1,600 respondents and achieved a 95% confidence level with a margin of error of 2.4%, revealing that 57.6% of Argentinians distrust their president. The LIBRA cryptocurrency scandal involving alleged actions by Milei triggered substantial financial losses for many investors, which preceded the rapid deterioration of public sentiment.

The Zuban Córdoba report shows how public disillusionment with the current administration expands as negative perceptions build up every month. Negative sentiments continue to increase at a steady pace and show no signs of stopping. As the political agenda continues to be burdened with more problematic issues, the government receives increased negative assessments. The report highlighted that recent months have been marked by successive bloodbaths, which demonstrate the intensifying crisis among citizens.

After the cryptocurrency scandal emerged more than one month ago, respondents showed only 36% trust in Milei. With 6.4% still undecided, the majority showed distrust. Milei’s trustworthiness has taken a substantial hit, and his leadership now faces serious doubts. The public’s view of him has declined as 58.5% of respondents now regard him negatively, while 41.1% still have a favorable perception.

Public support for Milei’s administration reflects this widespread negative sentiment. The survey shows 58.4% of respondents reject his management methods while 41.6% express their support. Current statistics reveal an expanding division in Argentine society about Milei’s leadership and policies.

The LIBRA cryptocurrency scandal that caused public confidence to decrease began on February 14. Milei used his now-deleted X (formerly Twitter) account to advertise the launch of a new cryptocurrency. The token achieved a market capitalization of over $4 billion in under twelve hours. The token experienced a brief surge before its value crashed by over 95% following early investors’ and alleged insiders’ decision to sell their shares.

According to Nansen’s report, insiders and bots earned $180 million while 86% of LIBRA investors lost $251 million. The economic destruction affected thousands of investors who supported Milei as they struggled to handle the consequences.

Milei sought to sever his connection with the project by asserting that his role was limited to spreading information about LIBRA without any endorsement intentions. The public remained furious, and legal authorities intensified their scrutiny despite Milei’s explanation. Multiple criminal complaints targeted Milei and his associates following the event, while Argentine officials initiated a federal investigation into the president’s role.

Even after his reputation suffered substantial damage, Milei’s La Libertad Avanza party still leads election polls leading up to the October 26 vote. Milei’s party has achieved 36.7% support while the opposition coalition Unión por la Patria trails at 32.5%. The scandal has damaged Milei’s reputation and decreased public confidence, but his political movement remains intact. The upcoming elections will determine if he can sustain his political relevance amidst growing public distrust and legal problems.

The scenario reflects Argentina’s public opinion volatility while highlighting the complex political challenges President Milei must manage. The interactions among his economic decisions and public statements with the LIBRA scandal inquiries will determine both his presidential path and Argentina’s political future. Recent survey findings reveal a pivotal moment in Milei’s political journey by demonstrating the instability of public trust and the possibility of swift changes in political backing.