Ah, the launch of the infamous LIBRA memecoin! A delightful little token that Argentine President Javier Milei, in a moment of questionable judgment, decided to promote. And just like that, the crypto world found itself tangled in a web of scandal that could make even the most seasoned soap opera writer blush. 🎭
But let’s not get too bogged down in the political ramifications—after all, who cares if Milei’s sister is allegedly cashing in on LIBRA’s founder, Hayden Davis? Impeachment? Pfft! The real drama lies in the Solana ecosystem, where the coin has stirred up quite the ruckus among industry bigwigs. And speaking of ruckus, SOL’s price has taken a nosedive of over 17% since LIBRA’s grand debut on February 14, plummeting from a lofty $204 to a mere $169. Talk about a rollercoaster ride! 🎢
In a twist worthy of a Dostoevsky novel, Meteora co-founder Ben Chow has decided to throw in the towel, resigning from his post at the decentralized exchange. This shocking announcement came courtesy of Jupiter’s enigmatic founder, Meow, who, in a fit of transparency, cited Chow’s “lack of judgment and care” as the reason for his departure. Who knew crypto could be so dramatic? 😏
Over the past three months, Meteora has been the launchpad for a series of high-profile memecoins, including those for viral influencer Haliey Welch (HAWK), former President Donald Trump (TRUMP), and even First Lady Melania Trump (MELANIA). And now, of course, LIBRA. It’s like a celebrity gala, but with more digital coins and fewer red carpets.
However, not everyone is clapping their hands in glee. Several market participants have accused the Meteora team of insider trading and other unsavory financial shenanigans. Oh, the horror! 😱
DeFiTuna’s Caveman Dhirk Unleashes Allegations
On February 18, the founder of DeFiTuna, Moty Povolotsky—who prefers to be called Caveman Dhirk on X—decided to stir the pot further. He claimed that Chow had orchestrated a network of influencers profiting handsomely from these celebrity launches, all while retail investors were left in the dust. “It’s an internal secret,” he declared, “a massive spiderweb of influencers banking millions!” 🕷️💰
Moty also revealed that his firm had accepted a $30,000 investment from Davis’ company, Kelsier, only to refund it post-LIBRA launch. A classic case of “thanks, but no thanks!”
But fear not, dear reader! Meow has come to the rescue, assuring us that no one at Meteora or Jupiter has engaged in any wrongdoing. “I’d like to reiterate my confidence,” he proclaimed, “that no insider trading occurred!” Sounds convincing, right? 🙄
Chow himself echoed these sentiments, denying any insider activity and claiming that only a select few in Meteora had access to launch information. “We’re all about confidentiality here!” he insisted. Because nothing says “trust us” like a good old-fashioned denial.
How Celebrities Launch Memecoins on Meteora
Chow went on to explain the glamorous process of launching a token on Meteora. “Celebrities typically need to hire a ‘deployer’ and/or market-maker,” he said, as if it were as simple as ordering a pizza. “These deployer teams are experts in using Meteora’s SDK or CLI.” Who knew launching a memecoin required so much technical know-how? 🍕💻
He assured us that there was nothing special about the relationship between Meteora and LIBRA’s deployer, Davis. Just a casual acquaintance, really. Meanwhile, some industry pundits have suggested that a
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2025-02-19 17:31