Ben Chow, co-founder of Meteora-Het on Solana-based platform behind the controversial tokens of Trump and Melania launches-has resigned after accusations of prior knowledge that turned up after the collapse of Libra Token, a crypto that was initially supported by Argentine president Javier Milei whose value fell more than 90% within a few hours after the launch.
Meow, the pseudonymous co-founder of both Meteora and Jupiter Exchange, confirmed In a tweet on Monday, Ben’s resignation came after his lack of judgment as a project manager in recent months.
Neither chow neither meow Decrypts Requests for comments.
The LIBRA The collapse of Token has accusations of prior knowledge trade, with analysts in the chain point to Suspected wallet activity and the possible involvement of insiders who dump tokens on the Price Peak of the Active.
In the midst of the allegations, platforms such as Meteora, which offered technical support for the token launch, were caught in the Crossfire.
With the company that is now looking for new leadership, Chow’s Exit has elevated Questions about the ethics about high -profile token launches and their far -reaching impact on crypto.
After the allegations, Meow clarified the position of his companies and noticed that nor Meteora were involved in trade with prior knowledge or financial misconduct.
Jupiter has previously recognized while the launch of an “Argentina was” was “An open secret“In Meme -Muntcirkels, nobody knew the details in advance at Jupiter.
Meteora is said to have had surgery for more than a year independent of Jupiter, with Ben running the company without Miaow’s significant involvement.
Chow has not yet released an official statement, but he previously spoke to the controversy on X and offered his side of the story.
In a series of tweets on Saturday, initially explained The involvement of Meteora in the Libra launch was limited to offering technical support.
“The $ WEEGRA team used Meteora, a platform without permission,” tweeted the co-founder of Meteora. “We have never had access to the tokens or to Milei.”
He clarified that Meteora played no role in the activities of the launch decision or market activities, because the platform enables everyone to create Polish and tokens without the direct involvement of the Meteora team.
However, Ben went back later on his first tweet, recognize Those questions were established about the role of meteora in the launch of Libra and other tokens.
Chow explained his relationship with Hayden Davis van Kelsier Ventures, who was involved in the launch of the scales, TrumpAnd Melania meme coins.
‘I referred them [Hayden Davis] For a handful of other projects that had asked us about implementation companies, including the team behind $ Melania, “Ben wrote.
He reportedly referred Cuckier Ventures to other projects and said that their relationship was built on mutual trust developed during the successful launch of the M3M3 token in December.
In response to Community-Back-Lash, Meow announced plans for an independent study by third parties. They try to hire the law firm Fenwick & West, based in California, to handle the allegations and to promote transparency.
The resignation of Chow was received with mixed reactions, with some support from figures such as Kash Dhandha, one of the founders of Super Team Dao and a ‘Cat Shepherd’ at Jupiter, who defended He as a victim of ‘strategic errors’ instead of misconduct.
Libra saw its market capitalization rise to $ 4 billion before he fell by 91%, causing suspicions of market manipulation.
The Fallout of Libra remains the shadow Milei, which is now confronted with deposition -calls and legal steps Accuse him From fraud about his promotion of token.
Published by Sebastian Sinclair
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