Solana Hit by Storm: FTX Unlock + Insider Trading Scandal on Jupiter!
Bad news for Solana holders—FTX will soon unlock 11.2 million SOL (around $2.06 billion). The potential for selling pressure is getting bigger, and the situation is getting more chaotic because Jupiter (JUP), one of the largest DEXs on Solana, is hit by severe FUD!
JUP is accused of playing insider trading in the LIBRA token launch. They said they knew about the launch two weeks earlier from Kelsier Ventures. Their CEOs, Meow & Ben, even knew the date and time!
Many accused the JUP team of not only joining LIBRA, but also playing in the TRUMP, MELANIA, and other tokens. They were caught getting in first, making big profits, and then repeating the same pattern.
The community was furious and said:
💩 “This JPEG Coin casino is really dirty. You guys already knew the smart contract (CA), liquidity, and details before the launch. You only regret being caught.”
What Does Jupiter Say?
• They claimed to know there would be a token related to Argentine President Javier Milei two weeks before launch, but didn't know any further details.
• Ben from Meteora knew about the CA a few minutes before launch, but didn't tell the Jupiter team until it was public.
• Meow said he didn't know the CA and the exact time, and fell asleep in Tokyo during the launch. (An excuse that many people think is like a kid's excuse.)
• They verified LIBRA when the market cap was already $1.5 billion to "protect users" from fake tokens.
They also checked if there was a team that stole the start, but said they didn't find any evidence. If anyone had evidence, they said they would take action.
But to the community, their excuses don't make sense. They still lost trust, and many say the Solana empire is starting to collapse.
🔥 Conclusion:
• FTX unlocking SOL will make selling pressure even crazier.
• Jupiter is hit by a big FUD about insider trading.
• Trust in the Solana ecosystem is getting thinner.
• Memecoins on Solana are considered increasingly dirty and full of insider games.
CEO Meow said he will give a further statement. This drama is about to get even hotter!
