Ben Chow, co-founder of Solana-based decentralized Exchange Meteora, has been taken after accusations that he has received or managed private-libra tokens.
The resignation of Chow was announced on X by Meow, pseudonymous co-founder of both Meteora and Jupiter. Meow emphasized their dedication to openness and assured the community that neither project was involved in trade with prior knowledge or financial misconduct.
A respectable legal company, Fenwick & West, has been hired by the companies to conduct an independent investigation into the claims. Meow stated that the results of the investigation will be made public.
Meteora, which has been working independently of Jupiter for more than a year, was led by Chow without important involvement of Miaow. While MEOW expressed confidence in the character of Chow, he mentioned a lack of judgment about the core activities of Meteora in recent months as a reason for the dismissal.
The controversial Libra -Memecoin, to which Chow was connected, received rapid attention after the public mention of the token of the Argentinian President Javier Milei. The value of scales rose to more than $ 4 before it dropped to less than 50 cents. Rumors about market manipulation were fueled by reports that insiders invented more than $ 100 million, while buyers were losing large losses.
Milei’s involvement in token has inflamed political tensions in Argentina, with opposition leaders called for his resignation. The anti-corruption agency of the nation is now reusing the case, and federal judge María Servini supervises a legal probe in the case.
The scales incident has sent shock waves through the crypto space and emphasizes the risks involved in Memecoin trade. On February 17, Binance fellow founder Chang Peng Zhao offered to donate 150 Binance Coin (BNB) as part of an attempt to compensate for victims of the scam.
