Zuban Córdoba’s recent survey findings show Argentine President Javier Milei faces substantial public trust erosion among most respondents after his LIBRA cryptocurrency scandal. A survey taken from March 12 to March 14 questioned 1,600 people and showed increasing dissatisfaction with the government.

A 95% confidence level and a 2.4% margin of error showed that 57.6% of survey respondents now distrust the libertarian leader. Following the LIBRA cryptocurrency scandal, which led to significant financial losses for many investors, public confidence experienced a sharp decrease.

The Zuban Córdoba report observes that negativity develops slowly yet consistently, reaching higher levels without any visible limits. The assessment of governmental performance becomes more solidified as additional problematic political issues continue to develop. The theme for recent months could be described as a continuous series of bloodbaths. The clear-cut evaluation highlights the escalating public dissatisfaction with Milei’s leadership.

Six out of ten survey participants stated that they no longer trusted Milei after the crypto scandal, based on polling results. The undecided group made up 6.4%, which shows substantial uncertainty among the population. The data reveals substantial damage to Milei’s reputation and standing among the public.

A negative perception of the president exists among 58.5% of respondents, which demonstrates his image has suffered considerably. Conversely, only 41.1% maintain a favorable opinion. His administration’s public approval reflects the negative sentiment since 58.4% of people disapprove of his management, while 41.6% still support him.

President Milei caused the LIBRA cryptocurrency scandal by promoting a new token through his social media post on X (formerly Twitter) before taking down the message on February 14. The cryptocurrency’s market valuation reached beyond $4 billion within hours before dropping by more than 95% as early investors and alleged insiders quickly liquidated their positions.

Insiders and trading bots used automated systems to make $180 million in profits, according to reports from blockchain analysis company Nansen. While LIBRA’s market value fell, a staggering 86% of its investors encountered combined losses amounting to $251 million. After the crash, thousands of backers who supported Milei faced severe financial damages.

Milei tried to separate himself from the controversy by asserting that his actions only involved sharing details about LIBRA without supporting it. Despite the explanation given by Milei, his words have failed to reduce public anger and legal investigation into the matter.

Argentine authorities initiated a federal investigation into President Milei’s alleged involvement following numerous criminal complaints filed against him and related parties. Milei’s administration faces mounting pressure as legal consequences from the LIBRA scandal continue to develop.

Even with extensive damage to his reputation and legal scrutiny in progress, Milei’s La Libertad Avanza remains the frontrunner in election polls before the October 26 vote. Polls show that La Libertad Avanza commands 36.7% of public support, which stands 4.2 percentage points higher than Unión por la Patria’s 32.5%. Milei’s political movement persists despite the scandal’s damage to his personal reputation.

Survey results indicate Milei’s political situation appears unstable, while his ability to preserve public trust faces mounting difficulties. The investigation of the LIBRA scandal continues to develop with new facts coming to light, but the president’s prospects of restoring public trust are still unclear. The next election will determine if Milei maintains his political power during the ongoing crisis in Argentina.