The post Meteora co-founder resigns over ‘lack of judgement’ on LIBRA project appeared on BitcoinEthereumNews.com.

Journalist Posted: February 18, 2025 Meteora’s co-founder Ben Chow has resigned from the platform.  LIBRA fall-out has put the Argentinian President and Kelsier Ventures under pressure.  Meteora co-founder Ben Chow has resigned from the Solana-based DEX for listing the controversial LIBRA on the platform.  In a statement released by his co-founder, Meow, who also doubles as founder of the DEX aggregator platform Jupiter Exchange, said,  “While I am 100% confident about Ben’s character,  as a project lead he has also shown a lack of judgement and care about some of the core aspects of the project (Meteora) (given its current size and reputation) over the past couple of months.” He further noted, “And this is unfortunately unacceptable. Ben understands this, and has chosen to resign.”  LIBRA blame game LIBRA was launched on 15th February and was promoted by President Javier Milei as a way to benefit Argentinian citizens.  Its market cap jumped to $4.56B but later dropped 95% after 4 hours of its launch. The dump was accelerated by the insider team dump, who cashed out $87M, per a blockchain analytics report by Bubblemaps.  The revelation that the ‘pump and dump scheme’ was driven by Hayden Davis of Kelsier Ventures intensified the fallout. This team was also behind TRUMP and MELANIA tokens. The Argentina President is now under pressure from the opposition to resign due to his alleged involvement in the LIBRA project, which he has denied. He blamed the LIBRA team and stated that he didn’t “promote it, only shared it.” On his part, Hayden Davis, admitted to snipping Official Trump [TRUMP] (insider trading). But he blamed Meteora and Jupiter for playing a part in the LIBRA scandal as well.  In a rejoinder, Meteora and Jupiter denied having prior knowledge of LIBRA or engaging in insider trading.  In fact,…

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Filed under: News - @ February 18, 2025 11:16 am