Jupiter Exchange Denies Involvement in the $LIBRA Collapse

Jupiter Exchange has made it clear that it had nothing to do with the sudden collapse of the LIBRA token. They say they are not involved in launches, transactions or fundraising in any way. Token LIBRA, which is believed to be related to Argentine President Javier Milei, has sharply decreased right after its launch. This has led to speculation and accusations of insider trading and market manipulation. Some traders speculate that Jupiter had prior knowledge of the LIBRA launch and used this information to their advantage.

Jupiter used X (trước this is Twitter) to quell rumors. The platform admitted that some team members had heard about a potential token linked to Milei about two weeks before the launch. However, they emphasized that they don’t have specific details about the launch timeline or specific information The exchange explained that it first became aware of the LIBRA project through Kelsier Ventures but was not involved in the creation, funding, or distribution of the token. To address the allegations, Jupiter conducted an internal investigation, finding no evidence that team members engaged in insider trading. The company also invites the community to present any evidence, ensuring strict action is taken if any wrongdoing is detected. Jupiter explains that LIBRA is only added to its strict list after reaching a market capitalization of $1.5 billion. This verification is solely to protect traders from buying fraudulent tokens, not to authenticate LIBRA itself. CEO Meow, who is rumored to be in Tokyo and sleeping when LIBRA was launched, also confirmed that he did not know in advance about the contract address or launch time of this token. The noise of LIBRA has stirred up issues around memecoins, and Jupiter has noted the frenzy that many such launches attract. The exchange platform said that cutting, hoarding, and other hunting trading strategies are damaging the cryptocurrency ecosystem. So far, Jupiter has assured users that they are focusing on finding solutions to make the trading environment safer and more reliable

The price of the LIBRA token has now dropped by 25%, down to 0.3286 US dollars, with a market capitalization of 84.28 million US dollars and a 24-hour trading volume of 24.25 million US dollars, down 85.86%.