Meme coins are facing a significant downturn, with major tokens like Dogecoin and Pepe experiencing steep declines. The launchpad Pump.fun has seen a 27% drop in daily volume following controversies surrounding the LIBRA token, leading traders to question the sustainability of the meme coin market. As liquidity wanes and sentiment shifts, some believe the era of meme coins may be coming to an end, while others argue that the market could rebound as human nature drives a desire to gamble.
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0 posts last weekLIBRA and MELANIA Insiders Allegedly Launder Funds Through Meme Coin
Insiders of LIBRA and MELANIA are under investigation for allegedly laundering $2.7 million through the POPE meme coin amid a DOJ probe. They purchased POPE tokens for $2.76 million, only to sell them for $24,000, resulting in a significant loss. The investigation also scrutinizes key figures, including Argentine President Javier Milei, following a criminal complaint regarding potential fraud and market manipulation linked to the LIBRA token’s dramatic rise and fall.
read moreMeteora Co-Founder Resigns Amid Financial Misconduct and Insider Trading Allegations
Ben Chow, co-founder of the DeFi platform Meteora, resigned amid allegations of financial misconduct and insider trading related to the LIBRA meme coin. Despite denying personal involvement, Chow expressed regret over his past associations and acknowledged a lack of judgment in his role. An investigation by an independent firm is set to follow as the project seeks new leadership.
read moreMeteora Co-founder Resigns Amid Libra Memecoin Controversy and Insider Trading Allegations
Ben Chow, co-founder of DeFi platform Meteora, has resigned following controversy over the Libra memecoin, which faced allegations of insider trading during its launch. Despite Chow’s denial of any wrongdoing, a leaked video revealed his regret over introducing Kelsier Ventures to various projects, including the MELANIA token. Meow, the founder of Meteora, confirmed Chow’s resignation and announced plans for an independent investigation into the matter.
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