Trust in President Milei Declines After $4.6B Libra Crypto Incident
A growing number of Argentine citizens are expressing distrust in President Javier Milei following his alleged connection to the controversial $4.6 billion Libra crypto scandal. According to a recent poll conducted by Zuban Córdoba, 57.6% of respondents indicated they no longer trust Milei, while only 36% expressed continued support. 6.4% remained uncertain.
The survey, which included 1,600 participants and was conducted between March 12 and 14, marked the first time Zuban Córdoba directly polled public trust in Milei since the scandal broke.
Disapproval of Milei’s Leadership Rises to 58% Amid Growing Public Dissatisfaction
The polling firm revealed that dissatisfaction with Milei’s leadership has been escalating, with disapproval ratings jumping from 47.3% in November to 58% in March. This change coincided with the Libra crypto controversy.
“Negativity is increasing slowly but steadily and seems to find no ceiling,” the polling firm stated. “The shift in tone and assessment of the administration is becoming more entrenched as new political controversies emerge.”
In a separate survey by the University of San Andrés, Milei’s approval rating plummeted to 45%; however, not all polls align on this issue. A study from Morning Consult showed Milei maintaining a 62.4% approval rating following the scandal.
🤼 A recent poll reveals that nearly 58% of Argentinians distrust President Javier Milei following the LIBRA crypto scandal. Despite this, his La Libertad Avanza party leads with 36.7% support ahead of the upcoming election. Is the tide turning in Argentina? pic.twitter.com/xfK4VI3dxX — Coin Bureau (@coinbureau) March 27, 2025
The controversy stems from a Feb. 14 post on X (formerly Twitter) in which Milei mentioned the Libra (LIBRA) token. Following this, the token’s market capitalization soared to $4.6 billion before collapsing by 94% within hours. Milei has since distanced himself from the project, claiming he merely shared information, not promoted the token.
Despite increasing criticism and calls for his impeachment from opposition parties, Milei’s political base remains relatively intact. Polls suggest his libertarian party, La Libertad Avanza, continues leading in the race for Argentina’s upcoming general election on October 26, holding 36.7% support. The opposing coalition, Unión por la Patria, trails with 32.5%. Concerns regarding Milei’s economic management persist, with only 43% of Argentinians believing he effectively curbed inflation, and 63% opposing his efforts to secure a new loan from the International Monetary Fund.
Argentine Lawyer Seeks Global Arrest Warrant For LIBRA Token Co-Creator
Earlier this month, Argentine lawyer Gregorio Dalbon officially requested that Interpol issue a global arrest warrant for Hayden Davis, the co-creator of the controversial LIBRA token. Dalbon is collaborating with prosecutor Eduardo Taiano and judge María Servini to issue an Interpol Red Notice for Davis, coupled with a call for his extradition to Argentina. The lawyer emphasized Davis’s significant role in creating and promoting the $LIBRA cryptocurrency, stressing the likelihood of Davis evading justice considering the international aspect of the case.
Key Takeaways
- Public trust in President Milei has sharply declined, with 57.6% of Argentinians expressing distrust following the $4.6B Libra crypto scandal per Zuban Córdoba.
- Despite the controversy and declining approval ratings, Milei’s party continues leading ahead of Argentina’s October 26 election.
- Authorities are now pursuing a global arrest warrant for LIBRA co-creator Hayden Davis amid increasing legal pressure.
