- calendar_today August 9, 2025
A Zuban Córdoba survey showed public trust towards President Javier Milei in Argentina has dramatically decreased following recent events. A survey conducted from March 12 to 14 with 1,600 respondents shows escalating public disillusionment, which connects directly to President Milei’s connection to the LIBRA cryptocurrency scandal.
1. Crypto Scandal Erupts: Milei’s Credibility Takes a Hit
A recent survey shows that 57.6% of Argentinians distrust their libertarian leader with a 95% confidence level and a 2.4% margin of error. The LIBRA crypto failure resulted in major financial losses for investors and triggered this steep decline. The Zuban Córdoba report paints a grim picture: The negativity develops at a slow yet consistent pace without any visible limit. The government’s tone and evaluations are solidifying negative as multiple challenging political problems come to the fore. Repeated violent events dominated the recent months as the main theme. The public shows increasing anxiety about Milei’s government performance.
A mere 36% of respondents showed trust in Milei after the crypto scandal. The remaining 6.4% of people who have not yet decided show that a large segment of the population remains unsure. Milei’s credibility and public standing experienced a major setback. The majority of respondents now view him negatively at 58.5%, whereas only 41.1% retain a positive perception of him. A 58.4% disapproval rate characterizes public sentiment toward his administration, while 41.6% maintain their support.
The LIBRA cryptocurrency scandal began on February 14th after Milei posted about the newly launched token on X (formerly Twitter), which was later deleted. The new cryptocurrency reached a market capitalization of over $4 billion within hours but then lost more than 95% of its value after early investors and alleged insiders quickly sold their holdings. According to blockchain analytics firm Nansen, profits of $180 million were taken by insiders and trading bots while 86% of LIBRA investors experienced combined losses totaling $251 million. Thousands of investors who supported Milei went through severe financial setbacks.
2. Legal Scrutiny and Public Outrage: Milei’s Response Under Fire
Milei tried to separate himself from the project by stating that his role was simply to share information without endorsing it in reaction to rising public outrage. Milei’s explanation failed to reduce public outrage or lessen the legal investigation. The scandal generated multiple criminal complaints targeting Milei and his associates as Argentine authorities initiated a federal investigation into the president’s alleged participation. Milei’s administration faces increasing pressure as legal consequences stemming from the LIBRA scandal continue to develop.
3. Election Prospects and Political Landscape: La Libertad Avanza Leads Despite Scandal
The La Libertad Avanza party, led by Milei, holds the top position in electoral polls despite his damaged reputation and continuous legal scrutiny, with the upcoming vote scheduled for October 26th. La Libertad Avanza maintains 36.7% support while Unión por la Patria holds 32.5% of support among voters. The political momentum of Milei’s movement remains intact despite the severe damage to his personal reputation caused by the scandal.
The survey data reveals that Milei’s current political situation is unstable, and his ability to keep public trust is becoming increasingly difficult. The president’s chances of regaining public trust remain uncertain as new details come to light with the ongoing LIBRA scandal investigation. The upcoming election will determine if Milei can survive the current political crisis while maintaining his influence in Argentina. Political observers will closely monitor how the legal investigation, alongside active party backing, shapes Argentina’s complicated political environment.
