- calendar_today August 9, 2025
A recent survey reveals that Argentine President Javier Milei confronts a severe public confidence crisis as his approval ratings have dropped sharply. The Zuban Córdoba research conducted from March 12 through March 14 shows that 57.6% of Argentinians have lost trust in the libertarian leader. A major change in public opinion followed the LIBRA cryptocurrency scandal that caused significant financial losses for many investors.
According to a survey of 1,600 people, which reached a 95% confidence level with a 2.4% margin of error, the results show increasing public disillusionment with the Milei government. The Zuban Córdoba report captured a gradual yet continuous rise in negative views, which indicates worsening public assessment of the government due to emerging “problematic issues.”
Negative sentiment towards the government continues to rise at a steady pace without any visible limit. More problematic issues that arise on the political agenda are driving the government’s tone and evaluation towards further consolidation,” The report stated.
After more than thirty days following the cryptocurrency scandal, only 36% of survey participants conveyed trust in Milei. The 6.4% undecided voters allowed a majority to express their distrust toward the government. The damage to Milei’s reputation and leadership authority becomes evident through this event. The public perception of him has taken a hit because now 58.5% of people have a negative view about him, while only 41.1% still support him. A majority of citizens reject Milei’s administration performance, as 58.4% express disapproval while 41.6% continue to back him.
LIBRA Scandal Fuels Public Outrage
The LIBRA cryptocurrency scandal erupted on February 14, which then started the decline in public trust. Milei promoted a new cryptocurrency through a post on X, which has since been deleted. The token quickly reached a market capitalization of over $4 billion in just hours. The rapid increase in value proved temporary because early investors and suspected insiders sold their stakes, which caused token prices to drop over 95%.
Insiders and bots gained $180 million from their investments in LIBRA, while 86% of other investors lost $251 million, according to blockchain analysis firm Nansen. The financial devastation affected thousands of investors who supported Milei, leaving them reeling from the impact.
Milei has tried to separate his actions from the LIBRA project by asserting that his role was limited to spreading information rather than giving it his endorsement. Milei’s explanation failed to calm the public anger or stop legal investigations. Multiple criminal charges have been brought against President Milei and his associates, which prompted Argentine federal authorities to start an investigation into his role in the matter.
Political Implications and Upcoming Elections
La Libertad Avanza party led by Milei remains ahead in election polls despite damage to his reputation before the October 26 vote. The La Libertad Avanza party leads with 36.7% backing while the opposition coalition Unión por la Patria stands at 32.5%. The scandal has damaged Milei’s reputation and public confidence, yet failed to destroy his political movement.
The forthcoming elections will reveal whether Milei can sustain his political standing despite growing public skepticism and ongoing legal issues. Public opinion in Argentina remains highly unpredictable, which poses significant difficulties for Milei as he attempts to maneuver through the nation’s intricate political environment. The interactions between his economic policies and public statements alongside LIBRA investigations will determine his presidential path and Argentina’s political future. Survey results reveal a critical point in Milei’s political journey by showcasing the fragile state of public trust and the likelihood of swift changes in political backing.
