In a statement, Mr. Myo, co-founder of Jupiter, denied widespread allegations of market manipulation related to Kelsier Ventures and Meteora's M3M3 startup.

Ben Chou, Meteora's co-founder, has been a vocal opponent of the company's internal startup. Despite acknowledging questionable behavior and suspicious wallet activity, he continued to represent the memecoin project flowing to Hayden Davis.
Mr. Nya supported Mr. Chou and stated that "there was no financial impropriety, while co-founder of #Jupiter , acknowledged that the ongoing relationship between Mr. Chou and Mr. Davis showed a lack of judgment. Ben Chou has officially left his position at Meteora.
To reinforce Jupiter's commitment to transparency, Nya announced that it would hire an outside investigator to vet the Jupiter team. Jupiter initially commissioned Fenwick and West, "one of the most reputable law firms in the world, to conduct the investigation. Nyah and the Jupiter team subsequently reversed that decision. Commenters on social media wasted no time in reminding Meow that Fenwick and West was reportedly responsible for covering up ties between FTX and its sister company Alameda Research, which defrauded customers of $8 billion in 2022.
Meow and the Jupiter team are reviewing community feedback and considering options for an outside investigation.
While Jupiter is trying to clear the air, KOL and #Solana influencers are not doing themselves any favors. Dozens of influencers have revealed that they knew about the launch of $LIBRA before it became public and could be accused of market manipulation and trading on personal information.
Recently, Moti Povolotsky of DefiTuna and Ben Chou of Meteora stated in a video chat with the #band that everyone and their mothers knew.
Threadguy, one of Solana's most popular KOLs, released a video defending his name during the $LIBRA crisis. Threadguy has been accused of trading $LIBRA project tokens in exchange for publicity.

Read us at: Compass Investments

Ben Chow, co-founder of Meteora, has officially resigned following the ongoing controversy surrounding the LIBRA cryptocurrency. To ensure transparency, he has also initiated an independent third-party investigation into Meteora’s involvement in the project.
📢 What led to his resignation? How are key industry players responding?
Jupiter Founder Meow: No Financial Misconduct, But Poor Judgment 🧐💼
Meow, the founder of Jupiter, addressed the controversy on social media, stating:
📢 “I want to reaffirm that no one at Jupiter or Meteora was involved in insider trading, financial misconduct, or received any LIBRA tokens illegitimately.”
🔹 To ensure accountability, the team has hired Fenwick & West, a prestigious global law firm, to conduct an independent investigation into the LIBRA matter.
🔹 The final report will be released publicly, reinforcing transparency.
🚨 While Meow supported Ben Chow personally, he acknowledged that Chow had demonstrated poor judgment in recent months.
📢 “Although I fully trust Ben’s character, his decision-making has not reflected the scale and reputation of the project. This behavior is unacceptable, and Ben himself recognized that.”

Meteora to Search for a New Leader 🔄👨‍💼
For over a year, Meteora has operated independently from Jupiter, with Ben Chow leading its growth. Meow praised his contributions:
✅ Building a strong development team 👥
✅ Launching one of the most innovative DEX platforms 🔄
✅ Creating the most active liquidity provider (LP) community 📈
🔎 Despite Chow’s contributions, Meteora will now begin the search for a new CEO to guide the company forward.
Meow Distances Himself from JUP Speculation and Meme Coin Trading 📉🚀
Meow also took the opportunity to clarify his stance on JUP tokens and crypto trading speculation.
📢 “I have not sold any JUP tokens, nor do I trade meme coins. I have declined multiple offers of free tokens from marketing deals.”
💎 “Most of the tokens I’ve acquired through investments and advisory roles—especially pre-Jupiter—I continue to hold with ‘diamond hands.’”
💬 He concluded with an apology:
“I sincerely apologize for the stress I have caused the team, the community, and the entire ecosystem. We are committed to upholding trust and transparency.”
Ben Chow Denies Any Involvement with LIBRA 🚫🪙
Following the scandal, Ben Chow issued several statements denying any involvement in LIBRA operations.
📢 “Neither I nor Meteora have ever received, managed, or engaged with any LIBRA tokens.”
🔎 With an independent investigation underway, will this restore confidence in Meteora?
🤔 What’s your take on the controversy? Can Meteora regain investor trust? Share your thoughts! ⬇️

#Meteora , #jupiter , #CryptoScandal , #libra , #CryptoNewss

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Solana Jupiter Exchange: LIBRA launch was an open secret in meme circles - Decrypt Jupiter said in a tweet that it has nothing to hide and takes allegations of insider trading very seriously.

An internal investigation found no evidence of espionage by employees in connection with the LIBRA launch, the company added.
Some team members had known about the impending launch of Myl-related tokens for weeks, but
i was not involved in trading the project at any point, the exchange said.
#Jupiter revealed that
Jupiter first learned about the launch through venture capital firm Kelsier Ventures. She said. The exchange added: No one working on the Jupiter product knew in advance of the launch date, time and central location.
open secret
the Jupiter team admitted that the upcoming launch of the Argentine coin has long been an open secret in #meme circles. and the company said its employees have not told anyone about it, online or offline, citing the exchange
Jupiter also said that the exchange
founder, under the pseudonym Meow Jupiter Jupiter emphasized that he did not know the specific details of the launch and only learned of it on the day of the launch; Meow will reportedly release a full statement on the matter; Decrypt has reached out to Jupiter for comment.
Jupiter has faced criticism from #cryptocurrency players such as Benjamin Cowan, CEO and founder of ITC Crypto, who questioned the ethics of listing meme coins in the first place.
Meme coins are not good for cryptocurrencies, no matter how anyone tries to present it, Cowan wrote on Twitter, pointing to concerns about market manipulation and the speculative nature of these tokens. According to
Dexscreener, LIBRA is currently trading at $0.34 and has a market capitalization of $336 million, down from its peak of $4 billion on Friday before the big crash.
The fall of LIBRA has sparked a political crisis in Argentina, and Mireille President now faces impeachment threats and allegations of fraud in approving the project.

Read us at: Compass Investments
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