The $LIBRA scandal and Argentine public opinion

Abstract

This research note analyzes citizen perceptions of the political scandal triggered by the presidential endorsement of the cryptocurrency $LIBRA in February 2025. Following intense social media promotion by President Javier Milei, the asset lost its value, leading to accusations of corruption and ethical scrutiny. Through a national survey, levels of public awareness, attribution of responsibility, and moral evaluations of the event were examined. The results indicate that 86.5% of respondents were aware of the incident, and 61% categorized it as an act of corruption. Furthermore, 55% held the President and his inner circle directly responsible, while 78% evaluated his conduct negatively. The findings suggest that the perceived severity of the fraud and the attribution of institutional responsibility transcend citizens’ political leanings, being associated with a negative assessment of the leadership’s ethical integrity. These effects are presented as theoretical conjectures regarding reputational damage and political delegitimation, supported by existing literature and descriptive empirical evidence, without claiming to establish definitive causal inferences.