Key Notes

Key Notes:

Jupiter’s co-founder Meow hired Fenwick & West to investigate potential financial misconduct related to the LIBRA project.Ben Chow, a key figure at Meteora, resigned from his leadership role due to decision-making gaps and mismanagement.Meow emphasized Jupiter’s commitment to transparency and ethical standards, rejecting free tokens and OTC sales.

Jupiter’s co-founder, Meow, has announced that an independent third-party law firm, Fenwick & West, has been hired to conduct a full investigation into potential financial misconduct surrounding the LIBRA project. The decision comes as part of a broader effort to ensure transparency and accountability within Jupiter and its associated entities.

Hi, I’m meow from Jupiter, and I also cofounded Meteora.Firstly, I’d like to reiterate my confidence that no one at Jupiter or Meteora committed any insider trading or financial wrongdoing, or received any tokens inappropriately.Secondly, we are hiring an independent 3rd…

Meow, who also co-founded Meteora, reassured the public that neither Jupiter nor Meteora had been involved in insider trading, improper token handling, or financial malpractice. The law firm will conduct and publish the independent report autonomously.

Under intensified scrutiny, Meow voiced strong support for Ben Chow, a key figure at Meteora, affirming confidence in his integrity. He emphasized trust in Ben’s claim of no financial wrongdoing in partner dealings.

“I stand by Ben and his statement. I believe him when he says there was no financial inappropriateness in dealing with partners,” said Meow.

Despite this, Ben has chosen to step down from his leadership role, citing a lapse in judgment regarding core project aspects in recent months.

For more than a year, Meteora operated independently from Jupiter under Ben’s leadership. Meow acknowledged Ben’s efforts but pointed out gaps in decision-making that required greater precision. Oversights of that nature did not align with the project’s expanding influence and position within the ecosystem.

Following Ben’s resignation, efforts have started to identify new leadership for Meteora. Meow urged the community to remain patient and allow Ben to address concerns. Encouraging a fair approach, he called for understanding and urged others to give Ben the opportunity to explain the circumstances in full.

“I ask everyone not jump to conclusions and be as kind to him as possible as he seeks to clear his name,” he said.

Jupiter has earned recognition for upholding token transparency and adhering to regulatory requirements. The protocol ensured complete accountability for every token through three independent audits, confirming that all transactions remained well-documented. Meow reaffirmed that Jupiter never participated in over-the-counter (OTC) token sales and consistently maintained strict financial integrity.

As one of the most influential players in the ecosystem, Jupiter has facilitated billions in fee-free transactions while enabling its partners to generate substantial revenue. The company maintains financial transparency by working with leading audit firms. The recently launched Ultra Mode has set one of the lowest transaction costs in the industry, ranging between 0.05% and 0.1%.

Meow reaffirmed a strong commitment to ethical standards by disclosing a personal decision to avoid selling JUP tokens or engaging in routine memecoin trading. Refusing multiple offers of free tokens for promotional purposes, a firm stance on integrity remains evident in every aspect of Jupiter’s operations.

“I have been offered free tokens many times for marketing, and I’ve always rejected every single one,” he stated

A substantial share of the company’s earnings continues to circulate within the Solana ecosystem rather than being withdrawn for external profits. Capital allocation prioritizes jupSOL and JLP investments, ensuring long-term sustainability while financing operational expenses and talent recruitment.

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With over 3 years of crypto writing experience, Bena strives to make crypto, blockchain, Web3, and fintech accessible to all. Beyond cryptocurrencies, Bena also enjoys reading books in her spare time.

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