- calendar_today August 9, 2025
Public confidence in Argentine President Javier Milei has plummeted according to recent survey findings, despite his libertarian approach, which has attracted strong support yet provoked mounting controversy during his term. The survey from Zuban Córdoba, which ran from March 12 to March 14 among 1,600 participants, provides a 95% confidence level with a 2.4% margin of error and reports that 57.6% of Argentinians currently distrust their president. Public sentiment drastically fell after Javier Milei became implicated in the LIBRA cryptocurrency scandal that led to severe financial consequences for many investors.
The Zuban Córdoba report depicts a clear and alarming trend of increasing public disappointment with the current administration. The negative sentiment continues its steady climb without showing any signs of reaching its peak. Public opinion toward the government becomes more critical as political problems continue to surface. The report depicted the recent months as a series of violent events while emphasizing the growing crisis perception among citizens.
After a month, the cryptocurrency scandal came to light, respondents showed that only 36% maintained their trust in Milei. An additional 6.4% of respondents stayed undecided, which resulted in most expressing distrust. The event damages Milei’s trustworthiness while dimming his leadership’s standing. His public reputation deteriorated because 58.5% of respondents now view him negatively, compared to 41.1% who still hold a positive opinion of him. The public opinion about Milei’s administration reflects widespread negative sentiment. More than half of those surveyed reject his management style since 58.4% disapprove, while 41.6% remain supportive. The current statistics reveal widening societal differences in Argentina about Milei’s leadership and policy decisions.
The LIBRA Cryptocurrency Scandal and Its Fallout
The LIBRA cryptocurrency scandal that caused this drop in public trust began on February 14. Milei used X to advertise the new cryptocurrency before his post was taken down. The token’s market capitalization surpassed $4 billion within hours. The cryptocurrency’s explosive rise ended quickly when early investors and alleged insiders sold their holdings, resulting in a value drop of more than 95%.
According to the blockchain analytics firm Nansen, insiders, along with bots, gained $180 million in profits while 86% of LIBRA investors incurred losses amounting to $251 million. The catastrophic financial collapse affected thousands of investors who supported Milei as they faced severe consequences.
Milei sought to separate himself from the scandal by stating his role was limited to sharing information about LIBRA without providing any endorsement. Milestone’s explanation failed to calm public fury or halt legal investigations. Following the scandal, multiple criminal complaints emerged against Milei alongside his associates, while federal investigators in Argentina began examining the president’s possible role.
Political Landscape and Future Implications
Milei’s La Libertad Avanza party remains at the forefront of election polls despite his damaged reputation leading up to the October 26 vote. La Libertad Avanza party maintains 36.7% of voter support which surpasses the 32.5% backing the opposition coalition Unión por la Patria. The scandal has damaged Milei’s reputation and reduced public trust but his political movement remains intact. The forthcoming elections will be an essential assessment of his capability to keep his political standing despite increasing public skepticism and legal obstacles.
Milei faces significant obstacles within Argentina’s unpredictable political environment while attempting to manage public opinion. The trajectory of his presidency and Argentine political future will be influenced by the combination of his economic strategies and public statements alongside the LIBRA scandal investigations. The survey findings expose a pivotal moment in Milei’s political trajectory and reveal both the fragile state of public trust and the possibility of swift changes in political backing.
