Salana-based decentralized exchange Metora co-founder Ben Chow left the post after allegations that they privately received or managed Libra tokens.
Chow’s resignation was announced on X by Meu, a co-founder named Pseudo of both Mevore and Jupiter. Meo emphasized his dedication to openness and assured the community that neither the project was involved in insider trading or financial misconduct.
A respectable legal firm, Fenvic & West, is hired by companies to conduct an independent investigation into claims. Meo said that the results of the investigation would be made public.
Metora, which has been independently operated from Jupiter for more than a year, was led by Chow without significant participation from Meo. While Meo expressed confidence in Chow’s character, he cited the lack of decisions about the main operation of Metora in recent months, which was due to the resignation.
The controversial Libra Memcoin, in which Chow was added, attracted the focus after a public mention of the token of Argentine President Xavier Mile. The value of Libra exceeded $ 4 before falling to less than 50 cents. The rumors of manipulation in the market were provoked by reports that internal sources redeemed more than $ 100 million, while buyers suffered major losses.
Milli’s participation with tokens has ignited political tensions in Argentina, calling out his resignation. The anti -corruption office of the nation is now reviewing the case, and federal judge Maria Sarvini is overseeing a legal investigation in the matter.
The Libra phenomenon has sent shockwaves through the crypto space, which exposes the risks involved in memecoin trading. On 17 February, Benance co-founder Chang Peng Jhao offered to donate 150 Binense Coin (BNB) as part of the attempt to compensate the victims of the scam.
