- calendar_today August 9, 2025
Public confidence in Libertarian President Javier Milei of Argentina has substantially declined according to a recent survey, which predicts an upcoming difficult period for his leadership. The Zuban Córdoba survey, which took place from March 12 to 14, with a sample size of 1,600 respondents and a 95% confidence level with a 2.4% margin of error, showed 57.6% of Argentinians currently lack trust in Milei. The controversial LIBRA cryptocurrency scandal, which caused significant financial damage to many investors, directly preceded the dramatic shift in public sentiment.
Results from the survey demonstrate increasing public dissatisfaction with Milei’s leadership. The negative sentiment shows a consistent upward trend without any signs of hitting its peak. As the political agenda becomes increasingly fraught with issues, public evaluation and sentiment toward the government continue to consolidate into a more critical stance. The Zuban Córdoba report described the recent months as a sequence of bloodbaths that reveal the population’s intensifying crisis perception.
A survey conducted more than a month following the cryptocurrency scandal revealed that only 36% of respondents still trusted Milei. The undecided voters made up 6.4% of the responses, which resulted in a predominant number of voters expressing their distrust. The incident has damaged Milei’s reputation significantly and questions his ability to lead. A majority of respondents, at 58.5%, now view him negatively, while only 41.1% retain a positive perception of him. The majority of respondents show disapproval towards Milei’s administration, with 58.4% disapproving and only 41.6% supporting him. The data reveals a widening split in Argentine society about Milei’s leadership and policies.
LIBRA Cryptocurrency Scandal: A Catalyst for Public Distrust
The LIBRA cryptocurrency scandal that led to public confidence decline, began on February 14. Milei’s deleted X post (formerly Twitter) featured the promotion of the newly released cryptocurrency. The market capitalization of the token increased to more than $4 billion within just a few hours. The token’s value quickly dropped by more than 95% after early investors who were reportedly insiders sold their holdings.
According to blockchain analytics firm Nansen, insiders and bots made $180 million in profits while 86% of LIBRA investors faced losses amounting to $251 million. The financial disaster affected thousands of investors, including many who supported Milei, leading them to experience its severe consequences.
In reaction to the scandal, Milei stated he only shared information about LIBRA, hoping to distance himself from the project without endorsing it. Public outrage and legal scrutiny remained undiminished despite Milei’s explanation. Following the event, multiple criminal charges were brought against President Milei and his associates while federal authorities initiated a formal inquiry into his role.
Milei’s Political Future and the Upcoming Elections: Navigating Troubled Waters
The La Libertad Avanza party, led by Milei, maintains its leading position in election polls for the October 26 vote despite his damaged reputation. The party maintains a solid lead with 36.7% support while the opposition coalition Unión por la Patria trails with 32.5%. The scandal severely damaged Milei’s reputation severely damaged yet failed to fully destroy his political movement. Milei will need to prove his political staying power amidst increasing public distrust and legal battles during the upcoming elections.
Milei’s political journey reveals Argentina’s volatile public sentiment while highlighting the obstacles he confronts in Argentina’s multifaceted political scene. His presidential trajectory and the future of Argentina’s political scene will be shaped by the dynamics between his economic strategies, his spoken promises, and the LIBRA scandal investigations. Survey findings reveal a pivotal moment in Milei’s political journey by showing how unstable public trust can lead to swift changes in political backing. The next few months will determine if Milei can restore public trust in Argentina and protect his political career.
