Meteora Shake-Up: Co-Founder Ben Chow Steps Down Over Libra Memecoin Drama
Meow, the anonymous creator of Solana DEX Jupiter and co-founder of Meteora, revealed on Monday that Ben Chow, a co-founder of Meteora, has resigned over the recent controversy surrounding the contentious Libra memecoin. Meteora would be searching for a new leader, Meow 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,
Meow
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Last Friday, the contentious memecoin surfaced when Argentina’s president, Javier Milei, openly endorsed the token as a project to support the nation’s economic expansion. Milei’s support for Libra caused its price to spike to billions and then plummet. Libra liquidity pools were established on Meteora by the Libra team.
The Libra project’s team sniped its own coin at launch, according to Hayden Davis, CEO of Kelsier Ventures, who claimed to be a facilitator of the project in a video conversation with YouTuber Coffeezilla. Pre-launch insider knowledge is normal practice with significant memecoin launches, according to Kelsier CEO, who is also involved with Melania Trump’s Melania coin. However, Meteora and Chow have never received any tokens or insider information on Libra, according to an earlier statement he made on X.
For $LIBRA, although we were made aware of the possibility of it several weeks ago by Hayden, we had no involvement in the project at all beyond providing IT support. Neither I nor the Meteora team compromised the $LIBRA launch by leaking information, nor did we purchase, receive, or manage any tokens.
Chow
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However, the co-founder of Meteora said that he had recommended Davis to other companies as a token deployer to assist them in launching meme coins. According to Chow, this made him think that Davis and Kelsier Ventures were reliable. Melania Trump’s MELANIA token was among the handful of other projects he directed them to that would use them as deployers.
When we launched our new memecoin AMM platform in December 2024, I asked Hayden and Kelsier Ventures if they would be interested in launching a token on the M3M3 platform in order to provide an initial case study on how it worked. Like with any other unaffiliated token that lives on Meteora, we did not purchase, receive or manage any tokens on the side related to $MELANIA,
Chow
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