Ben Chow, co-founder of the Solana-based crypto firm Meteora, has stepped down following accusations of insider trading.
The controversy stems from the LIBRA token’s decline—once linked to Argentine President Javier Milei, it lost over 90% of its value within hours of launch.
While Meteora’s role in the launch was limited to technical support, its involvement has raised concerns over the ethics of token launches.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
Harmony ONE Explained (Beginner-Friendly Animation)
Meow, the pseudonymous co-founder of Meteora and the Jupiter exchange, confirmed Chow’s resignation on February 17, citing poor decision-making in recent months.
In response to the backlash, Meow emphasized that neither the company engaged in insider trading nor any financial misconduct. He also clarified that while talk of an “Argentina Coin” circulated in meme coin communities, Jupiter had no prior knowledge of its exact launch details.
Chow has not issued an official statement about his departure. However, he previously addressed the situation on X. Initially, he downplayed Meteora’s role, stating the platform merely provided a permissionless service that anyone could use.
He stated, “The LIBRA team used Meteora, which is a permission-less platform. We never had any access to the tokens or to Milei”. He also stressed that Meteora does not participate in decision-making for token launches.
Later, he revised his response, admitting there were valid concerns about Meteora’s involvement with LIBRA and similar projects. He also acknowledged his connection to Hayden Davis of Kelsier Ventures, a firm tied to the launches of the LIBRA, TRUMP, and MELANIA meme coins.
Meanwhile, Benjamin DeKraker, an xAI engineer, recently announced his resignation from the company. Why? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
