When LIBRA Falls: A Comedy of Errors in the Crypto Circus đŸŽȘ

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  • Ah, the illustrious Meteora’s co-founder, Ben Chow, has taken his leave from the platform!
  • LIBRA’s catastrophic tumble has placed the Argentinian President and Kelsier Ventures in quite the pickle.

In a twist worthy of a farcical play, Meteora co-founder Ben Chow has bid adieu to the Solana-based DEX, all thanks to the infamous LIBRA, which has become the talk of the town—though not in a good way, mind you!

In a statement that could rival the most dramatic of soap operas, his co-founder, Meow (yes, you read that right, Meow!), who also happens to be the mastermind behind the DEX aggregator platform Jupiter Exchange, proclaimed:

“While I am 100% confident about Ben’s character, as a project lead he has displayed a remarkable lack of judgement and care regarding some of the core aspects of our beloved Meteora (considering its current size and reputation) over the past couple of months.”

He further lamented:

“And this is, alas, simply unacceptable. Ben understands this, and has chosen to resign.”

The LIBRA Blame Game: A Comedy of Errors

LIBRA made its grand entrance on the 15th of February, heralded by none other than President Javier Milei as a miraculous boon for the Argentinian populace. 🎉

Its market cap soared to a staggering $4.56B, only to plummet by a staggering 95% in a mere four hours! The swift descent was hastened by the insider team, who gleefully cashed out a cool $87M, as revealed by the ever-watchful Bubblemaps.

The revelation that the ‘pump and dump scheme’ was orchestrated by none other than Hayden Davis of Kelsier Ventures only added fuel to the fire. This same team had previously dabbled in the TRUMP and MELANIA tokens—what a colorful cast of characters!

Now, the Argentinian President finds himself under pressure from the opposition to resign, all due to his alleged involvement in the LIBRA debacle, which he vehemently denies. “I didn’t promote it, I merely shared it!” he insists, as if that makes it all better.

Hayden Davis, in a moment of candor, admitted to snipping Official Trump [TRUMP] (insider trading, anyone?). But, in a classic case of passing the buck, he pointed fingers at Meteora and Jupiter for their roles in the LIBRA scandal.

In a swift rejoinder, Meteora and Jupiter denied any prior knowledge of LIBRA or engaging in insider trading. Ben Chow, in a moment of clarity, stated that Meteora’s involvement was limited to ‘IT support’ and that Hayden Davis seemed to be a ‘trustworthy’ market maker/deployer for tokens. Oh, the irony!

“Hayden Davis of Kelsier Ventures is one of the deployer/market makers that I have referred projects to over the past few months. There was nothing exclusive or unique about our relationship with Kelsier.”

Meanwhile, the Davis team has set its sights on expansion into Nigeria and beyond, much to the chagrin of the community. Helius Labs founder Mert Mumtaz, in a fit of exasperation, declared that the team should be jailed. đŸ›ïž

“I have no idea who these people even are or why they’re ‘trusted’—and I supposedly know Solana. Straight to jail, no hyperbole.”

Thus, the tale unfolds, revealing just how treacherous the waters of Solana memecoins can be for the uninitiated, especially if one is not a nimble trader.

As of this moment, LIBRA is valued at a mere $0.33, with a market cap of $338M, down a staggering 92% from its dizzying peak of $4.5B. What a spectacle! 🎭

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2025-02-18 12:11