Meteora’s Ben Chow Resigns Amid LIBRA Insider Trading Scandal

Ben Chow, co-founder of Solana-based platform Meteora, has resigned following insider trading allegations tied to the collapse of the LIBRA token, a cryptocurrency initially backed by Argentine President Javier Milei.

📌 LIBRA’s price surged to a $4 billion market cap before crashing 91% within hours, fueling speculation of insider manipulation.

📌 Chow’s departure raises concerns over transparency in high-profile token launches, with questions surrounding Meteora’s role in the controversial project.

🚨 As the crypto community demands accountability, will Meteora’s leadership change restore trust?

LIBRA Token Collapse Sparks Insider Trading Allegations

🔹 The LIBRA token’s crash has intensified scrutiny over insider trading, with on-chain analysts uncovering suspicious wallet activity.

📌 Key developments:

✅ Chow’s resignation follows accusations of insider involvement in token dumps at peak prices.
✅ Meteora, which provided technical support for LIBRA, has been drawn into the controversy.
✅ Jupiter Exchange distances itself, stating it had no prior knowledge of LIBRA’s launch.

🚨 With the fallout growing, Meow, co-founder of Meteora and Jupiter, clarified that neither platform engaged in insider trading.

📌 However, questions remain about Chow’s connection to Hayden Davis of Kelsier Ventures, who was involved in launching LIBRA, TRUMP, and MELANIA memecoins.

Ben Chow Responds to Allegations—But Later Backtracks

📌 Chow initially defended Meteora’s involvement, stating that:

✅ Meteora was only a permissionless platform used for LIBRA’s launch.
✅ The team had no access to the tokens or direct involvement with Milei.

📌 However, Chow later walked back his statements, acknowledging that concerns had been raised about:

✅ His referral of Kelsier Ventures to other projects, including MELANIA.
✅ His relationship with Davis, which stemmed from the M3M3 token launch.

🚨 The shifting narrative has fueled more speculation, prompting calls for greater transparency.

Meteora to Launch Independent Investigation Amid Backlash

📌 In response to mounting pressure, Meteora has announced plans for an independent third-party audit led by California-based law firm Fenwick & West.

📌 Chow’s resignation has sparked mixed reactions, with some defending him as a victim of strategic missteps rather than misconduct.

📌 Meanwhile, LIBRA’s collapse continues to haunt Argentine President Javier Milei, who now faces impeachment calls and fraud allegations over his involvement in promoting the token.

🚨 With investigations underway, the crypto industry watches closely—will Meteora regain credibility, or is this just the beginning of a larger scandal?

Conclusion: Is This the End of the LIBRA Controversy?

📌 Ben Chow resigns from Meteora amid LIBRA insider trading allegations.

📌 LIBRA token surged to $4B before crashing 91%, raising manipulation concerns.

📌 Meteora denies involvement but faces growing scrutiny over Chow’s connections.

📌 An independent third-party investigation is set to review the allegations.

📌 Argentine President Milei faces legal trouble over his LIBRA promotion.

🚀 As the dust settles, will the truth about LIBRA’s collapse finally be revealed?