The post Co-Founder of Crypto Firm Behind Trump, Melania Tokens Resigns Amid Insider Trading Allegations appeared on BitcoinEthereumNews.com.

Ben Chow, co-founder of Meteora—the Solana-based platform behind the controversial Trump and Melania token launches—has resigned following insider trading allegations that have surfaced after the collapse of LIBRA token, a crypto initially backed by Argentine President Javier Milei whose value plummeted over 90% within hours of its launch. Meow, the pseudonymous co-founder of both Meteora and Jupiter exchange, confirmed in a tweet on Monday that Ben’s resignation came following his lack of judgment as a project lead in the past few months. Neither Chow nor Meow have responded to Decrypt’s requests for comment. The LIBRA token’s collapse has cranked up insider trading accusations, with on-chain analysts pointing to suspicious wallet activity and the possible involvement of insiders dumping tokens at the asset’s price peak.  Amid the allegations, platforms such as Meteora, which provided technical support for the token launch, got caught in the crossfire. With the firm now seeking new leadership, Chow’s exit has raised questions about the ethics surrounding high-profile token launches and their far-reaching impact on crypto. In the wake of the allegations, Meow clarified his companies’ stance, noting neither Jupiter nor Meteora were involved in insider trading or financial misconduct.  Jupiter has previously acknowledged while the launch of an “Argentina Coin” had been “an open secret” within meme coin circles, no one at Jupiter knew the specifics in advance. Meteora had been reportedly operating independently of Jupiter for over a year, with Ben running the firm without significant involvement from Meow.  Chow has not yet released an official statement, but he previously addressed the controversy on X, offering his side of the story.  In a series of tweets on Saturday, he initially explained that Meteora’s involvement in the LIBRA launch was limited to providing technical support. “The $LIBRA team used Meteora, which is a permission-less platform,” the…

---

Filed under: News - @ February 18, 2025 11:21 pm