Meteora Cofounder Ben Chow Resigns Amid Libra Fallout | Airdrop Alert Pro

Based on Solana defi Platform Meteora is now looking for Amid controversy in Libra Meme Coin, co-founder Ben Chow resigned.

Libra remains controversial, which adds to Solana-based projects that have turned to the mind over the past few months.

As the scandal unfolds, Meteora’s Ben Chow gradually stepped down

Meow, the founder of pseudonym Decentralized Exchange (DEX) The co-founder of Jupiter and Meteora revealed the news in a statement on Tuesday on X (formerly Twitter).

Meow resolved this in a lengthy position, sure neither Jupiter nor Meteora engage in insider trading or financial misconduct about Libra meme coins. He also announced that Fenwick & West, an independent third party, one of the world’s most reputable law firms, has been hired to investigate the matter and release an independent report.

“I stand in Ben and his statement. I believe he said there was no financial inappropriateness when he said he was dealing with his partners… While I had 100% confidence in Ben’s character, as a project leader, He also showed a lack of judgment and concern about some of the core aspects of the project… Unfortunately, it was unacceptable. Ben understood this and chose to resign,” Meow Write.

Chow’s resignation marks a turning point for Meteora as the Defi platform will look for new leadership. Meow urged the community to keep things fair while working to clean up the name, emphasizing his past contribution to the ecosystem.

The development stems from the statement that Kelsier Ventures CEO Hayden Davis said that the team in Libra was engaged in insider trading and robbed their tokens at launch. He uses Video interview and Investigator Coffeezira.

Davis, previously at Melania Trump Melania coinsnoting that pre-issued internal knowledge is the standard procedure in the release of major meme coins. In response, Chow denied support for direct involvement in Libra.

“For $libra, although Haydn realized the possibility of it a few weeks ago, we were not involved in the project at all except for providing IT support, including commenting on liquidity curve And help verify the authenticity of the token after it is publicly launched. Neither Meteora team compromised the release of $triba by leaking information, nor did they buy, receive or manage any tokens,” Defensive.

However, Chow admits he has invested Davis and KyleSier risk into several projects in the token. He also added that this gave him trust in Davis and Kyle Sear, referring to them as other projects, including the Melania Trump token.

Video leak raises further questions

The controversy deepened when Solanafloor’s video posted on X seemed to capture a conversation between Defituna founders Dhirk and Chow. In the video, Dhirk It is said that He witnessed Kelsier team members performing token sniping.

Zhou, who seemed shocked, replied, “I feel very disgusted because I gave him Melania…I enabled the guy that shouldn’t have to quit…I’m going to quit, I’m going to quit.”

Despite these revelations, Meow firmly believes that Chow is not financially accomplice in misconduct. However, he acknowledged that the controversy hurt Etera’s reputation and therefore requires leadership change.

“Looking forward, we will find new leadership for Meteora,” Meow concluded.

The scandal has sparked wider discussion in the cryptocurrency space about the ethical standards in token releases. In a statement shared with Beincrypto, Chris Chung, founder of Solana Swap Platform Titan, said the Defi community must call for withdrawal behavior to prevent similar issues in the future.

“The meme coin fiasco of the entire Libra over the weekend should remind us that all of us in the Defi community have a responsibility to make users safer,” Chung said.

He added that DEX must carefully consider how retail users interpret token verification. Specifically, even small gestures like the “verification” tag can be misunderstood as recognition.

Similarly, Space ID Business Development Director Harrison Seletsky warned that the Libra controversy highlights the disturbing trend of cryptocurrencies. He believes the industry is at a tipping point and speculative trading must be turned to real utilities.

“The Libra meme coin recognized by Argentina President Javier Milei shows the worst cryptocurrency side in the world. We need to evaluate where the crypto industry is heading and who really benefits. For the moment, this is not an ordinary investor , its insiders pour out and dump tokens for their advantage.” Seletsky told Beincrypto.

In the same tone Solana Meme Coin launch pad pump. Founder Alon expressed disgust for the events around Libra on X. Pump. Fun executives called on witnesses to speak out. His condemnation was the pump. Solana.

“The people behind this project have made huge personal gains at the expense of many users, ecosystems and even the entire country. I hope the person in charge gets everything they deserve,” Aron shared.