The launch of the LIBRA token has sparked controversy in the Solana ecosystem, seeing Meteora co-founder Ben Chow resign and Jupiter launch an investigation.

The launch of the highly controversial LIBRA memecoin, which Argentine President Javier Milei briefly promoted, has embroiled the crypto industry in an emerging global scandal.

Disregarding for a moment the impact of the token’s launch on international politics — with President Milei’s own sister reportedly receiving payments from LIBRA founder Hayden Davis and Milei facing calls for impeachment — the coin has sparked major controversy involving key industry leaders in the Solana ecosystem.

The price of SOL
SOL
$170.65
has also tumbled more than 17% since the launch of LIBRA on Feb. 14, falling from $204 to $169 at the time of writing, according to
SOL
$170.65
from Cointelegraph.

Related: LIBRA memecoin scandal dings Solana’s image, but here’s the real reason why SOL is down

Meteora co-founder Ben Chow chose to resign from his role at the decentralized exchange, according to a Feb. 18 statement made on X by Jupiter’s pseudonymous founder Meow, who is also a co-founder of Meteora.

Meow said the resignation was related to Chow’s “lack of judgement and care” relating to core aspects of Meteora’s business.