{"id":13654,"date":"2025-02-18T11:17:10","date_gmt":"2025-02-18T11:17:10","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=13654"},"modified":"2025-02-18T11:17:10","modified_gmt":"2025-02-18T11:17:10","slug":"jupgate-rips-libra-memecoin-jupiter-just-lifted-the-lid-on-solana-meme-coin-cabals","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=13654","title":{"rendered":"JUPGATE Rips Libra Memecoin: Jupiter Just Lifted The Lid on Solana Meme Coin Cabals"},"content":{"rendered":"<div>\n<p class=\"text-body font-regular leading-[24px] pt-[9px] pb-[2px]\">The resignation of <a href=\"https:\/\/99bitcoins.com\/news\/argentina-president-faces-impeachment-after-milei-libra-crypto-scam-celebrities-just-wont-learn\/\">Meteora\u2019s<\/a> co-founder Ben Chow adds another twist to the LIBRA memecoin saga.<\/p>\n<p>Argentinan president Javier Milei thought he was Argentina\u2019s Trump and could scam his fans, but the pyramid turned out to be much smaller than anticipated. Now people will see jail time. Et tu Solana?<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Ain\u2019t no way these people aren\u2019t going to prison:<\/p>\n<p>\u2013 Running 9 figure scams using heads of states as bait <\/p>\n<p>\u2013 Doxxed &amp; living is LA<\/p>\n<p>\u2013 Admitting to inside corruption\/collusion<\/p>\n<p>\u2013 Exchanges involved \u2013 Meteora, Jupiter<\/p>\n<p>\u2013 LA based streamers &amp; KOLs involved<\/p>\n<p> <a href=\"https:\/\/t.co\/T0V5UEsZOr\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/T0V5UEsZOr<\/a> <a href=\"https:\/\/t.co\/NWVS8qdSMG\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/NWVS8qdSMG<\/a><\/p>\n<p>\u2014 $trong (@StrongHedge) <a href=\"https:\/\/twitter.com\/StrongHedge\/status\/1891406277378527627?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">February 17, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>We\u2019re dealing with unique problems this cycle that didn\u2019t apply in previous cycles:<\/p>\n<ul>\n<li><span class=\"unkfunc\"> HORRIBLE global economic macros<\/span><\/li>\n<li><span class=\"unkfunc\">Additional tariffs (<a href=\"https:\/\/99bitcoins.com\/news\/sui-price-analysis-after-canada-drama-spooks-sui-usd-ahead-of-token-unlock\/\">some justified<\/a> and others not) scarring the market<\/span><\/li>\n<li>Solana threw a wrench into <a href=\"https:\/\/99bitcoins.com\/news\/presales\/meme-coins-vs-shitcoins-wheres-biggest-crypto-profits\/\">alts\/shitcoins<\/a> this cycle<\/li>\n<li><span class=\"unkfunc\">Normies are further demoralized by getting rekt from Trump, Melania, Libra, <a href=\"https:\/\/99bitcoins.com\/news\/watch-out-hawk-tuah-bhad-bhadie-launched-her-meme-coin\/\">Hawk Tuah<\/a>, amongst other celeb pnd\u2019s (this ties into the SOL issue)<\/span><\/li>\n<\/ul>\n<p class=\"text-body font-regular leading-[24px] pt-[9px] pb-[2px]\">Here\u2019s a closer look at the scandal, LIBRA\u2019s dramatic rise and fall, and the political tensions it has sparked, not just for the token but also for figures like Argentine President Javier Milei.<\/p>\n<h2 class=\"font-bold text-body leading-[24px] pt-[12px] pb-[2px] [&amp;_a]:underline-offset-[6px] [&amp;_.underline]:underline-offset-[6px]\">Meteora Co-Founder Resigns After Libra Memecoin Failure<\/h2>\n<p class=\"text-body font-regular leading-[24px] pt-[9px] pb-[2px]\">Ben Chow\u2019s resignation was announced on X by \u201cMeow,\u201d the pseudonymous co-founder of Meteora and Jupiter, another Solana-based platform. Meow emphasized the company\u2019s commitment to transparency and reassured the community of its intent to address the allegations effectively.<\/p>\n<blockquote>\n<p>\u201cWe take allegations of insider trading EXTREMELY seriously,\u201d Meow wrote on X. \u201cNeither Meteora nor Jupiter is guilty of financial misconduct.\u201d<\/p>\n<\/blockquote>\n<figure id=\"attachment_206251\" aria-describedby=\"caption-attachment-206251\" style=\"width: 500px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-206251\" src=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/02\/GkAuKsyXAAAAZbe-903x1024.jpeg\" alt=\"\" width=\"500\" height=\"567\" srcset=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/02\/GkAuKsyXAAAAZbe-903x1024.jpeg 903w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/02\/GkAuKsyXAAAAZbe-265x300.jpeg 265w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/02\/GkAuKsyXAAAAZbe-768x871.jpeg 768w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/02\/GkAuKsyXAAAAZbe-44x50.jpeg 44w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/02\/GkAuKsyXAAAAZbe.jpeg 1268w\" sizes=\"(max-width: 500px) 100vw, 500px\"><figcaption id=\"caption-attachment-206251\" class=\"wp-caption-text\">(Ben Chow charged for 34 cases of Fraud in 2016 | <a class=\"general-link\" href=\"https:\/\/x.com\/UAP51onSol\/status\/1891568980755611865\/photo\/1\" target=\"_blank\" rel=\"noopener nofollow\">SEC<\/a>)<\/figcaption><\/figure>\n<p class=\"text-body font-regular leading-[24px] pt-[9px] pb-[2px]\">To reinforce this commitment, the companies have hired Fenwick &amp; West, a respected legal firm, to conduct an independent investigation. Meow promised that the review results would be made public to ensure accountability.<\/p>\n<p class=\"text-body font-regular leading-[24px] pt-[9px] pb-[2px]\">Despite expressing confidence in Chow\u2019s character, Meow cited a lack of judgment in Meteora\u2019s operations as a contributing factor to the resignation.<\/p>\n<h2 class=\"font-bold text-body leading-[24px] pt-[12px] pb-[2px] [&amp;_a]:underline-offset-[6px] [&amp;_.underline]:underline-offset-[6px]\">The LIBRA Memecoin and Allegations Engulf Argentina President Milei<\/h2>\n<p class=\"text-body font-regular leading-[24px] pt-[9px] pb-[2px]\">The scandal revolves around LIBRA, a meme coin that soared to mainstream attention after being endorsed by Argentine President Javier Milei.<\/p>\n<p class=\"text-body font-regular leading-[24px] pt-[9px] pb-[2px]\">What began as a rising star in the crypto world soon crashed spectacularly, with LIBRA\u2019s value plummeting from $4 to less than $0.50 in mere hours.<\/p>\n<p class=\"text-body font-regular leading-[24px] pt-[9px] pb-[2px]\">The dramatic collapse has been linked to market manipulation, with reports alleging that insiders cashed out over $100 million in liquidity, leaving investors to absorb enormous losses. Chow, according to accusations, privately received or managed LIBRA tokens\u2014a claim that has fueled outrage and distrust.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">It\u2019s all unravelling so quickly. In the past hour we found out that Jupiter owner Meow is the real owner of Meteora. Ben lied about having no involvement with Libra and other Kelsier launches and was fired from Meteora. Gotta imagine Solana and its execs knew this the whole time. <a href=\"https:\/\/t.co\/n5F8IC5H3W\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/n5F8IC5H3W<\/a><\/p>\n<p>\u2014 Beanie (@beaniemaxi) <a href=\"https:\/\/twitter.com\/beaniemaxi\/status\/1891692221335793889?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">February 18, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"text-body font-regular leading-[24px] pt-[9px] pb-[2px]\">President Milei\u2019s involvement with LIBRA has sparked significant political turbulence in Argentina. Milei, who publicly promoted the token, is now under investigation by the nation\u2019s Anti-Corruption Office.<\/p>\n<p class=\"text-body font-regular leading-[24px] pt-[9px] pb-[2px]\">Federal Judge Mar\u00eda Servini also oversees a legal probe into potential fraud and market manipulation related to the meme coin\u2019s controversial launch.<\/p>\n<p class=\"text-body font-regular leading-[24px] pt-[9px] pb-[2px]\">Sociopathic scammers from the Solana culture have now dominated the crypto market. These are people whose perspective is that crypto is literally just a place where you can <a href=\"https:\/\/99bitcoins.com\/news\/dana-white-fuming-as-ufc-crypto-scam-rocks-ufc-instagram\/\">scam people<\/a> for easy money. The LIBRA trainwreck gives us a glimpse into the massive rabbit hole.<\/p>\n<p class=\"text-body font-regular leading-[24px] pt-[9px] pb-[2px]\">They have zero inkling that crypto, blockchain, DLT, whatever, has any benefit other than being an arena for scamming. Sad!<\/p>\n<h2 class=\"font-bold text-body leading-[24px] pt-[12px] pb-[2px] [&amp;_a]:underline-offset-[6px] [&amp;_.underline]:underline-offset-[6px]\">Lessons for the Crypto Industry: Stop Bidding Solana Celebrity Meme Coins<\/h2>\n<p>tldr; Argentina\u2019s president Javier Milei launched a meme coin called $LIBRA, claiming it would boost the country\u2019s economy. However, within five hours, $4.4 billion vanished as insiders dumped their holdings.<\/p>\n<p class=\"text-body font-regular leading-[24px] pt-[9px] pb-[2px]\">After the LIBRA crash, Binance co-founder Changpeng Zhao\u00a0<span style=\"box-sizing: border-box; margin: 0px; padding: 0px;\">donated 150\u00a0<a href=\"https:\/\/99bitcoins.com\/news\/bnb-price-prediction-bullish-breakout-looming-as-golden-cross-forms-is-700-next\/\" target=\"_blank\" rel=\"noopener\">Binance Coin (BNB)<\/a> <\/span>to help fix the damage. But no amount of goodwill can fix the larger problem plaguing crypto\u2014an unregulated space that leaves small investors drowning in losses.<\/p>\n<p class=\"text-body font-regular leading-[24px] pt-[9px] pb-[2px]\">The fallout has drawn interest from the blockchain community and political circles, raising bigger questions about responsibility and the glaring gaps in crypto oversight.<\/p>\n<p>Solana has become a community increasingly tantamount to a drunken Reno casino, brimming with sharks and scammers. You might want to cash out while you still can.<\/p>\n<p><strong>EXPLORE:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/xrp-price-jumps-11-after-sec-crypto-unit-tease-xrp-etf-progress\/\" target=\"_blank\" rel=\"noopener\">XRP Price Jumps 11% After SEC Crypto Unit Tease XRP ETF Progress<\/a><\/strong><\/p>\n<p><strong><a class=\"general-link\" href=\"https:\/\/discord.gg\/B7Uk6agkqj\" target=\"_blank\" rel=\"noopener nofollow\">Join The 99Bitcoins News Discord Here For The Latest Market Updates<\/a><\/strong><\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h3 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h3>\n<ul class=\"nnbtc-key-takeaways__list\">\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Sociopathic scammers from the Solana culture have now dominated the crypto market.    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        The LIBRA meme coin controversy serves as yet another reminder of the risks associated with hypervolatile assets like meme coins.    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        For the crypto ecosystem, instances like these cast a long shadow, raising concerns about transparency, accountability, and the industry\u2019s long-term reputation.    <\/li>\n<\/ul><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/jupgate-rips-libra-memecoin-jupiter-just-lifted-the-lid-on-solana-meme-coin-cabals\/\">JUPGATE Rips Libra Memecoin: Jupiter Just Lifted The Lid on Solana Meme Coin Cabals<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The resignation of Meteora\u2019s co-founder Ben Chow adds another twist to the LIBRA memecoin saga. Argentinan president Javier Milei thought he was Argentina\u2019s Trump and could scam his fans, but the pyramid turned out to be much smaller than anticipated. Now people will see jail time. Et tu Solana? Ain\u2019t no way these people aren\u2019t [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-13654","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/13654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13654"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/13654\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}