Solana-based decentralized exchange Meteora co-founder Ben Chow resigned from his position following allegations tied to the Libra memecoin.

The resignation was confirmed by Meow, a co-founder of the Solana-based exchange Jupiter, on Feb. 17.

The Libra memecoin surged in value before sharply declining after Argentine President Javier Milei withdrew support, raising questions about Meteora’s involvement due to liquidity pools for the token.

Chow denied any wrongdoing, claiming he and Meteora did not engage in insider trading or receive Libra tokens.

He said his role was limited to IT support and referring external developers, including Kelsier Ventures.

The controversy intensified when a video surfaced of a conversation between Chow and DefiTuna founder Dhirk, where alleged misconduct by Kelsier Ventures was discussed.

Chow expressed regret and announced his resignation during the conversation.

Meow clarified that staff from Meteora and Jupiter were not involved in insider trading, and an independent investigation is underway.