Public trust towards President Javier Milei has dropped sharply according to a new survey indicating his administration faces considerable difficulties. A poll from Zuban Córdoba that ran from March 12 to 14 with 1,600 respondents showed 57.6% of Argentinians distrust Milei while maintaining a 95% confidence level and a 2.4% margin of error. Public sentiment shifted dramatically shortly after the LIBRA cryptocurrency scandal unfolded and led to significant financial losses for many investors.

The collected survey data demonstrates increasing public disenchantment with the Milei administration. The negative sentiment shows a steady increase without any clear upper limit. As the political agenda continues to introduce more problematic issues the evaluation and tone towards the government grows more consolidated. The Zuban Córdoba report described consecutive bloodbaths as the prevailing theme of recent months which reveals an intensifying crisis felt by the population.

A survey revealed that just 36% of respondents trusted Milei after over a month since the cryptocurrency scandal became public knowledge. With 6.4% of respondents not choosing a side, a majority clearly showed distrust. The situation severely damages Milei’s trustworthiness and undermines his leadership position. A higher percentage of respondents display a negative perception of him at 58.5%, while 41.1% still hold a favorable view. The public disapproves of Milei’s administration, with 58.4% expressing dissatisfaction while 41.6% remain supportive. The numbers demonstrate how Argentine society remains deeply divided over President Milei’s policies and his leadership.

Key Insights:

Significant Distrust: A majority of Argentinians now demonstrate distrust towards President Milei, with 57.6% of them expressing skepticism.

Declining Trust: Following the LIBRA scandal, only 36% of respondents continue to trust Milei.

Negative Perception: The majority of survey participants show a negative attitude towards Milei, with 58.5% reporting unfavorable views.

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

Continuing Party Support: Election polls show Milei’s La Libertad Avanza party continues to hold the top position.

Financial Loss: The LIBRA cryptocurrency scandal resulted in financial losses of 251 million dollars for investors.

The LIBRA crypto scandal broke out on February 14, which led to this public confidence. Milei promoted a newly launched cryptocurrency on X, which was later deleted from the platform. The token reached a market capitalization above $4 billion within several hours. The token’s brief surge ended when early investors, including alleged insiders, sold their shares, resulting in a 95% value drop.

According to a blockchain analytics company, Nansen insiders and automated trading systems earned $180 million while 86% of LIBRA’s investors experienced losses amounting to $251 million. Thousands of investors who supported Milei suffered severe financial damage from the market crash.

Facing the scandal, Milei tried to separate himself from the LIBRA project, saying he only shared information without supporting it. The explanation failed to dampen both public outrage and legal investigation. Multiple criminal accusations emerged against Milei and his associates following the event, which triggered Argentine authorities to start a federal investigation into the president’s participation.

Milei’s La Libertad Avanza party maintains its lead position in election polls despite the damage to his reputation as the October 26 vote approaches. The party received 36.7% in support while the opposition coalition Unión por la Patria received 32.5%. Despite the scandal, which has severely damaged Milei’s image and diminished public confidence in him, his political movement remains intact. The forthcoming elections will act as a definitive evaluation of his capacity to stay politically relevant while confronting rising public skepticism and legal obstacles.

The current situation demonstrates how quickly public opinion swings in Argentina while illustrating the difficulties Milei encounters as he works through Argentina’s intricate political environment. His economic strategies combined with his public declarations and the current LIBRA scandal investigations will determine both his presidency’s direction and Argentine political future. Survey results reveal a pivotal moment in Milei’s political trajectory by exposing how public trust remains fragile and how political backing can change quickly. Milei’s ability to earn back the trust of the Argentine population during the next several months will decide his political longevity.