Meteora Exec resignation

Ben Chow, co-founder of the DEFI platform and Same Coin Meteora, resigned on Monday after being accused of financial and negotiations of initiates linked to the controversial piece of the same.

This development has taken place after growing concerns concerning its involvement in the project.

Chow denies participation in the controversy

Meow, the pseudonym co-founder of Jupiter, a decentralized exchange on Solana, as well as Meteora, announced the resignation of Chow on X. He expressed his confidence in the character of his partner but quoted his recent lack of judgment concerning the main operations of their business as a reason for their departure.

“Although I am 100% confident on the character of Ben, as a project manager, he also showed a lack of judgment and care of some of the fundamental aspects of the project,” wrote Meow. “And it is unfortunately unacceptable. Ben understands this and chose to resign, “he added.

Meow also revealed plans to find a new leadership for Meteora and hire an independent business, Fenwick & West, to conduct an investigation and publish a report on the situation.

The balance even Coin drew attention after Argentinian President Javier Milei promoted it, causing an increase in its value greater than $ 4. However, the price later dropped spectacular at less than $ 0.5 after Milei removed his post.

His decline caused rumors of carpet traction, with accusations of emerging market. The reports said that the initiates had collected more than $ 100 million while regular buyers have undergone substantial losses.

In a separate declaration on X, Chow denied any personal involvement in the Balance project. He said that neither he nor the Meteora team had received any knowledge or initiate tokens linked to it.

“Neither me nor the Meteora team, we compromised the launch of the balance by disclosing information, and we did not buy, received or managed with tokens,” he said.

Presumed video proof

In the middle of rumors, a video surfaced online with an alleged conversation between Chow and Dhirk, the founder of Defituna.

In the video, Dhirk claims to have seen Hayden Davis, a key figure of the whole balance of the balance, and members of his company, Kelers Ventures, engaging in initiate crimes during a trip to Barcelona.

The co-founder of Meteora is seen denying any involvement in misconduct, expressing surprise and concern. At one point, he also said that he regrets recommending Davis to other memes initiatives like Melania.

“I feel so sick because I gave him Melania,” said Chow. “I am in place because I allowed the guy who should not have been activated … I will have to resign, I will have to stop,” said the distraught executive.