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Cryptonews
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Chow Down and Out: Insider Trading Allegations Following LIBRA Collapse Prompts Resignation of Meteora Co-Founder
- Ben Chow, co-founder and ex-CEO of DeFi protocol Meteora, resigned amidst insider trading allegations following the LIBRA collapse linked to Javier Milei, a country's head of state.
- Chow's resignation, confirmed by 'Meow', cited poor judgement leading to stepping down, while defending the platform's integrity and lack of involvement in offchain dealings.
- The series of high-profile Solana-based shitcoins, including LIBRA, TRUMP, and MELANIA, has sparked sell-offs, undermining confidence in the crypto market's transparency and fairness.
- Chow defended working with Hayden Davis behind LIBRA, emphasizing his recommendation based on trust from previous projects but distancing from any involvement in MELANIA's failure.
- Meow, co-founder of Meteora and Jupiter, announced a law firm investigation into the LIBRA launch while acknowledging Chow's lack of judgement despite confidence in his character.
- An investigation by Bubblemaps and CoffeeZilla revealed a money trail linking MELANIA and LIBRA, indicating a potential group responsible for multiple pump and dump shitcoins.
- The crypto market faces scrutiny as revelations of insider trading and manipulation emerge, urging for more transparency and ethical practices to sustain industry growth.
- Bubblemaps highlighted strong connections between wallet holders of MELANIA and the origin of LIBRA, suggesting a pattern of coordinated pump and dump schemes in the market.
- The resignation of Ben Chow underscores the need for stricter regulations and oversight in the crypto industry to prevent insider trading and protect retail investors from exploitation.
- The fallout from the LIBRA collapse and subsequent allegations serves as a cautionary tale for the decentralized finance sector, emphasizing the importance of due diligence and ethical conduct.
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Medium
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The Gamification of Remote Work: What Employers Are Doing to Make Jobs Fun
- Gamification involves applying game mechanics — such as point scoring, leaderboards, rewards, and challenges — to non-game settings like work tasks.
- Employers are implementing digital badges, points, and reward systems to acknowledge employees’ achievements.
- By introducing leaderboards, companies create a sense of healthy competition among remote workers.
- The gamification of remote work enhances engagement, productivity, and employee satisfaction.
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Cryptonews
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FTX Payments Set to Begin, LIBRA Token Fallout: What’s Weighing on The Crypto Market?
- The cryptocurrency market has retreated from its post-Trump election surge with Bitcoin trading at US$95,139 while Solana faces steeper declines amid concerns over memecoin sentiment.
- The LIBRA scandal has intensified with allegations involving Argentine President Milei’s administration and developer Hayden Davis’s admission of market manipulation through sniping.
- FTX’s bankruptcy estate has begun its creditor repayment program worth US$16 billion, though reimbursements based on collapse-era prices will result in significant losses for most investors.
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TronWeekly
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Solana DEX Meteora Scrambles for Damage Control After LIBRA Fallout
- Ben Chow, associated with Solana DEX Meteora, has stepped down in the wake of the Libra scandal.
- Meteora's involvement with LIBRA was limited to providing technical assistance and they have denied any financial wrongdoing.
- Meteora has hired a law firm to conduct an independent investigation for transparency.
- Meteora experienced an increase in trading volume amidst controversies, while other Solana-based DEXs saw declines.
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2 Likes
Bitcoinist
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Solana Under Serious Pressure Against Bitcoin – SOL/BTC Candle Close Is Crucial
- Solana has been under intense selling pressure since reaching its all-time high in late January.
- The SOL/BTC pair is breaking down from a key support level, indicating possible further declines against BTC.
- Meme coin speculation has become a major risk factor for Solana, contributing to sustained selling pressure.
- The next few days will be crucial in determining Solana's ability to reclaim key support levels and its short-term trend.
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26 Likes
Cryptopotato
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XRP, ADA, and SOL Tumble, Driving Liquidations Above $300M
- The cryptocurrency market is experiencing a significant decline, with altcoins such as XRP, ADA, and SOL tumbling in price.
- Bitcoin has also seen a drop to a two-week low, falling below $94,000.
- Solana has experienced a particularly underwhelming performance, losing about 40% of its value compared to its January high.
- The total value of liquidated positions has exceeded $300 million, with over 140,000 traders being affected.
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Cryptopotato
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These Crypto Assets Are Seeing the Biggest Surge in Social Media Buzz
- The top crypto assets driving social media buzz include LIBRA, SOL, MELANIA, and ETH.
- LIBRA, a Solana-based meme coin, has been in the news due to a scandal involving Argentine President Javier Milei.
- SOL is trending as it is associated with meme coins and is being compared to the performance of ether.
- MELANIA, linked to the LIBRA scandal, has raised concerns about insider trading and associated risks.
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TechBullion
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Dogen at a Discount! Buy the Dip Before This Solana Based Token Shoots to $50!
- DOGEN, a Solana-based token, experiences a temporary price drop, presenting an opportunity for investors.
- Since its listing, DOGEN has shown strong momentum, reaching an all-time high of $0.0066 before stabilizing around $0.002.
- Technical indicators suggest DOGEN has breakout potential, with a potential price target of $0.004+ in the near term.
- DOGEN's strong performance and potential for a major exchange listing have drawn attention, with speculation about it reaching a market cap exceeding $100M.
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Bitcoinsensus
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Solana Price Prediction: Key Demand Zone in Play
- Solana reacted to a key daily demand zone after sweeping liquidity
- M15 demand could be the next level to watch for a bullish move
- If demand fails, the price may retrace deeper before reversing
- Patience is key. Let price confirm its next move before jumping in!
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4 Likes
TheNewsCrypto
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50% Drop In 2025 For Cardano And Solana Claims Top Crypto Analyst As Lightchain AI Could 50x This Year
- A top crypto analyst predicts a 50% price drop for Cardano (ADA) and Solana (SOL) by 2025 due to rising competition, network challenges, and shifting investor sentiment.
- On the other hand, Lightchain AI (LCAI) is gaining momentum as a high-growth alternative with the potential to 50x in value this year.
- Cardano and Solana face challenges such as slow development cycle, delays in upgrades, network outages, and competition from AI-integrated blockchain projects.
- Lightchain AI differentiates itself by leveraging artificial intelligence to enhance blockchain scalability, automation, and efficiency, making it a promising breakout project.
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Bitcoinist
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Libra Crypto Disaster: Creator Defends Project From Scam Allegations, Admits Team Sniped Token
- Hayden Davis, CEO of Kelsier Ventures and one of the creators of the Libra token, admits team sniped the tokens at launch to prevent other snipers
- Davis defends the snipping as a means to protect the project and prevent volatility from killing it
- The Libra token, which gained attention after Argentina's President endorsed it, experienced a rapid rise and fall in valuation
- At least eight insider wallets connected to the Libra team were implicated in cashing out around $107 million, leading to the cryptocurrency's crash
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TronWeekly
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LIBRA and MELANIA Meme Coins: Same Team, Different Names?
- Argentine President Milei faces fraud charges for promoting the “LIBRA” memecoin.
- “LIBRA” scandal links to “MELANIA” memecoin, sparking concerns about scams.
- Solana-based meme coins face skepticism amid the “LIBRA” controversy.
- The ongoing investigation highlights the inherent risks associated with meme coins.
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Cryptopotato
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Solana Price Craters 40% From January High as Meme Coin Bubble Bursts
- Solana (SOL) has declined 40% from its all-time high of $293 in January as the meme coin bubble bursts.
- The popularity of Solana was driven by meme coin minting and speculation, which has started to fade.
- Insiders have been extracting large amounts of money from Solana meme coin launches, leading to a loss of confidence.
- In contrast, Ethereum (ETH) has seen a surprise move with prices topping $2,830 before falling back.
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25 Likes
Cryptoninjas
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Solana Shorts Surge: Are Memecoin Scandals Crashing the Party?
- Solana (SOL) futures markets are showing a growing bearish sentiment.
- The Solana ecosystem is facing a crisis of confidence due to memecoin scandals.
- Despite challenges, Solana continues its strong revenue generation.
- Solana has experienced increasing volatility and trading volume fluctuations in the cryptocurrency market.
- Traders are betting on SOL price falls due to memecoin issues, impacting Solana's market stability.
- There has been a notable shift from a bullish to a bearish sentiment in SOL futures markets.
- Shorting activities have increased, indicating a bearish outlook for SOL in perpetual futures trading.
- Solana's price has dropped nearly 6%, leading to a decrease in market sentiment and trust in the ecosystem.
- Memecoin scandals, including insider trading and significant losses, are eroding trust in the Solana ecosystem.
- Despite challenges, Solana continues to show strength in underlying areas, generating more revenue than Ethereum.
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15 Likes
Cryptonews
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After LIBRA Scandal, Kelsier Ventures Eyes Nigerian Expansion with New Solana Blockchain Project
- Kelsier Ventures, involved in the LIBRA scandal, is in talks to launch a Solana-based project in Nigeria.
- The LIBRA debacle led to US$4B in investor losses, with CEO Hayden Davis proposing a US$100M control fund.
- Kelsier Ventures faces challenges due to Nigeria's strict crypto regulations and recent crackdown on crypto traders.
- Argentine President Javier Milei is facing impeachment threats after endorsing LIBRA and causing investor losses.
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