Solana-based decentralized exchange aggregator Jupiter has responded to allegations of insider trading surrounding the recent launch of LIBRA, an Argentinian-themed memecoin.
**Jupiter Addresses Insider Trading Allegations in LIBRA Token Launch**
According to Jupiter, the launch of an “Argentine Coin” was widely anticipated among the memecoin community. The platform confirmed that Ben from Meteora, a DeFi protocol, was aware of LIBRA’s contract address (CA) a few minutes before the launch for verification purposes. By the time Jupiter tagged LIBRA with the “Verified” tag on its Trenches product, the token had already reached a market cap of $1.5 billion.
**Jupiter Denies Insider Trading Allegations**
Amid concerns about possible insider trading and sniping, Jupiter said it takes such allegations seriously and conducted an internal investigation. The platform reported that it found no evidence that its team members engaged in unfair trading practices. “We take allegations of insider trading seriously. We conducted our own investigation and found no evidence of sniping by team members,” Jupiter said in an official statement.
LIBRA’s rapid price growth and high initial market cap have fueled concerns within the crypto community about fair access to memecoin launches, with some traders expressing skepticism about how insiders could gain an early advantage in such highly speculative markets. Jupiter’s response aims to reassure users that its processes are transparent and that no preferential treatment was given during LIBRA’s launch. However, debates over fairness and integrity in memecoin trading will likely continue as the market remains highly volatile and speculative.
*This is not investment advice.*