Jupiter Co-founder Engages Law Firm for LIBRA Financial Misconduct Probe
Jupiter's co-founder, Meow, announced an independent investigation by Fenwick & West into potential financial misconduct related to the LIBRA project. This measure aims to enhance transparency within Jupiter and its affiliates.
Key points include:
- Meow emphasized confidence that no insider trading or financial wrongdoing occurred at Jupiter or Meteora.
- The investigation report will be published independently.
- Meow supports Ben Chow from Meteora, affirming his integrity despite Chow's resignation due to decision-making lapses.
- Ben's exit follows a year of independent operation under his leadership, with acknowledged gaps in precision affecting project growth.
- Jupiter has maintained transparency through three independent audits and has not engaged in over-the-counter token sales.
- The company has facilitated billions in fee-free transactions while keeping transaction costs low, between 0.05% and 0.1%.
- Meow has rejected offers for free tokens, reinforcing a commitment to ethical standards.
- A significant portion of earnings is reinvested within the Solana ecosystem, focusing on long-term sustainability.