According to recent polling data from Zuban Córdoba, President Javier Milei’s public approval ratings have significantly dropped because of his ties to the controversial LIBRA cryptocurrency affair. A survey conducted from March 12th to 14th collected responses from 1,600 participants who showed a growing public dissatisfaction with the current government.

1. Cryptocurrency Debacle Erodes Public Trust in Milei

According to the research, with a 95% confidence level and 2.4% margin of error, findings show that 57.6% of participants now express doubt about the libertarian leader. The LIBRA cryptocurrency fiasco, which led to substantial financial losses for many investors, has caused a profound decline in public trust. The Zuban Córdoba report articulates a bleak outlook: According to the report, the consistent upward trend in negativity shows no signs of stopping. Critical issues that dominate political discussion are making public perception and government evaluation shifts increasingly permanent. Multiple escalating crises have defined the recent months. Public anxiety about Milei’s leadership continues to expand according to this evaluation.

The trust survey revealed that only 36% of respondents expressed confidence in Milei after the cryptocurrency controversy. A further 6.4% of surveyed individuals did not express a firm opinion, which shows significant public indecision. The results show significant damage to both Milei’s reputation and public support. A majority of participants view Milei negatively, with 58.5% expressing disapproval, while only 41.1% continue to have a favorable opinion of him. Public approval ratings for his administration have decreased to reveal that 58.4% of respondents disapprove of his management, while only 41.6% show support.

The LIBRA cryptocurrency scandal started on February 14th when Milei used X (formerly Twitter) to promote a newly launched token through a post that has since been removed. The cryptocurrency quickly reached a market capitalization of over $4 billion but then lost more than 95% of its value when early investors and supposed insiders quickly sold their stakes. A blockchain analytics company called Nansen revealed that insiders and trading bots made $180 million in profits as 86% of LIBRA investors suffered combined losses of $251 million. Thousands of investors who supported Milei experienced severe financial damage.

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

Milei tried to separate himself from the project by claiming that he only shared information without supporting it, while facing increasing public backlash. The explanation failed to reduce public anger or mitigate legal scrutiny. A federal investigation into President Milei’s possible involvement has started because multiple legal complaints have been filed against him and his associates following the scandal. Legal repercussions from the LIBRA scandal persistently unravel while mounting additional stress on President Milei’s troubled administration.

Even though his public reputation has been severely harmed and legal investigations continue to unfold, La Libertad Avanza under Milei remains the frontrunner in upcoming election polls before the October 26th election. Polls show La Libertad Avanza party at 36.7% support while Unión por la Patria trails with 32.5%. The scandal has eroded Milei’s personal trustworthiness, but his political movement remains unaffected in terms of momentum.

Survey data demonstrates that Milei’s political position remains unstable and presents growing obstacles to maintaining public trust. The president faces an uncertain future in regaining public trust as more details about the LIBRA scandal continue to surface through the investigation. The next election will determine if Milei can manage the crisis and maintain his political power in Argentina. Ongoing legal investigations paired with unwavering party backing create a multifaceted political situation that will receive significant attention in the upcoming period.