Ben Chow, co-founder of Meteora – the platform behind controversial tokens like TRUMP and MELANIA – has just resigned after facing insider trading accusations related to the collapse of the LIBRA token. LIBRA was previously promoted by Argentine President Javier Milei, but lost more than 90% of its value just hours after its launch, causing significant losses for investors.

Reasons for Resignation and Explanation from Meteora

Ben Chow's resignation was announced by Meow, the anonymous co-founder of Meteora and Jupiter Exchange, citing "lack of clarity in Ben's leadership role" in recent months.

Meow asserts that both #Meteora and Jupiter were not involved in insider trading or financial fraud activities. He also emphasized that Meteora only provided technical support for the launch of LIBRA, and anyone could use this platform to create tokens without direct involvement from the Meteora team.

Independent Investigation and Community Response

To ensure transparency, Meow announced that Fenwick & West, a California-based law firm, will be hired to conduct an independent investigation into the allegations.

Despite support from some industry figures, such as Kash Dhandha from Super Team DAO, the community still has many doubts about the ethics of Meteora in large token projects and the negative impact on investor trust.

LIBRA Token and Serious Consequences

The LIBRA token once had a market capitalization of up to 4 billion USD, but then lost 91% of its value in a short time, leading many to suspect market manipulation.

The collapse of #LIBRA not only affected Meteora but also sparked a wave of criticism aimed at Argentine President Javier Milei, as he was accused of promoting this token before it collapsed. Currently, Milei is facing legal investigations and the risk of impeachment over fraud allegations related to LIBRA.

Conclusion and Risk Warning

Ben Chow's resignation marks a significant turning point in the crisis of Meteora, as the company attempts to regain trust from the community through an independent investigation. The LIBRA scandal also serves as a warning to investors about the high risks of participating in the crypto market.

⚠️ Risk Warning:

The cryptocurrency market always carries high risks with strong price volatility. The information in this article is for reference only and is not investment advice. Please do thorough research before participating in the crypto market. #anhbacong