The Zuban Córdoba survey discovered that President Javier Milei’s public trust ratings have sharply decreased due to his association with the LIBRA cryptocurrency controversy. The public survey taken from March 12 to 14, with 1,600 participants, shows growing dissatisfaction with the ruling government.

1. Crypto Fiasco Undermines Milei’s Public Standing

Poll results demonstrate that 57.6% of respondents now distrust the libertarian leader, according to a survey with a 2.4% margin of error and 95% confidence level. The LIBRA cryptocurrency disaster, causing substantial financial damage to many investors, has triggered a vast decline in public trust. The Zuban Córdoba report articulates a bleak outlook: The increasing negative sentiment demonstrates a relentless trend that shows no signs of stopping. Public opinion and governmental evaluation continue to harden amid emerging critical political issues. A series of escalating crises has defined the most recent months. The assessment demonstrates growing public discomfort with Milei’s government administration.

Following incidents involving cryptocurrency, only 36% of survey respondents reported trusting Milei. 6.4% of the survey respondents expressed no opinion, indicating a significant level of public indecision. Milei’s public reputation and trustworthiness suffered greatly, according to recent data. The percentage of survey respondents who now have a negative opinion about him stands at 58.5% against the 41.1% who continue to hold a positive view. The administration of his leadership now faces diminished support as 58.4% of respondents express disapproval, while 41.6% remain in favor.

The LIBRA cryptocurrency scandal started on February 14 when Milei advertised the new token on X (formerly Twitter) through a post that has since been removed. The cryptocurrency experienced a rapid market capitalization increase to $4 billion, followed by a catastrophic 95% drop due to the fast-paced liquidation of assets by initial investors who were reportedly insiders. Nansen, a blockchain analytics company, disclosed that insiders, together with automated trading bots, made $180 million while 86% of LIBRA investors faced collective losses totaling $251 million. Thousands of investors who supported Milei suffered devastating financial setbacks.

2. Intensified Legal Scrutiny and Public Discontent: Milei’s Defense Questioned

Facing mounting public disapproval, Milei tried to separate himself from the project by claiming his role was limited to information distribution, and he never endorsed it. Public anger remains strong and legal scrutiny persists despite this explanation. The scandal triggered multiple legal allegations against Milei and related individuals while federal authorities launched an investigation into the president’s suspected involvement. The ongoing legal fallout from the LIBRA scandal is increasing the burden on President Milei’s administration, which is already under significant strain.

3. Election Prospects and Political Dynamics: La Libertad Avanza Leads Amidst Scandalous Backdrop

La Libertad Avanza retains its lead in the election polls despite the damage to Milei’s public image and ongoing legal investigations. At present, La Libertad Avanza has garnered 36.7% support while the opposition coalition Unión por la Patria stands at 32.5%. Despite the scandal which has greatly damaged Milei’s credibility, his political momentum remains intact.

The survey results demonstrate the unstable position of Milei’s political career and the growing difficulties he encounters in maintaining public confidence. The president’s ability to regain public trust is still doubtful as more information about the LIBRA scandal becomes apparent through ongoing investigations. The upcoming election will determine if Milei can successfully manage the crisis and maintain his political power in Argentina. The combination of continuous legal investigation alongside stable backing from his political party develops a multifaceted political situation that demands close observation in the months ahead.