Jupiter issued a statement on LIBRA: No team members were found to have engaged in insider trading, and no one knew the release time or CA in advance
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The crypto news reported that Jupiter released a statement about LIBRA on X: "From the beginning, Jupiter has placed great emphasis on transparency. The issuance of meme coins is a dirty game filled with all kinds of ugly behaviors. However, we have nothing to hide. Therefore, we can explain the following facts as clearly as possible. Some members of the Jupiter team were aware that at some point there would be a token project related to the Argentine President Milei. We learned this directly from Kelsier Ventures about 2 weeks ago. Although we were initially unsure, we later saw reliable evidence in the form of a public post on Milei's personal account, indicating that he was serious. This is all we know. We have no knowledge of the transactions between the responsible parties (in this case Milei and the market makers) and have not participated in any way. In the meme coin circle, it is an open secret that an 'Argentina Coin' will be launched at some point, as evidenced by many public posts that have since appeared. But to adhere to our confidentiality spirit, we have not discussed this with anyone online or offline. Additionally, no one on the team has received any LIBRA tokens or related compensation. No one knew the release date, time or CA in advance. Only Meow himself knew about it on the scheduled release day, but he did not know the CA or the specific time, and did not participate in any way. He was asleep in Tokyo when the token was released. Ben of Meteora knew the CA a few minutes before the release to verify it, but only shared it with the Jupiter team after the information was made public. Contrary to the large amount of FUD on X, we did not pre-verify or immediately verify the CA. Instead, we waited for public confirmation (again from Milei's X account) and sufficient trading volume. When we added LIBRA to the Strict List and displayed the 'Verified' tag in the Trenches product, its market cap had already reached around $1.5 billion. It was not until about 1 hour after the release that LIBRA received the 'Verified' icon in our default token search. Why verify it? The answer is simple: to protect users. Immediately after LIBRA, dozens of counterfeit tokens were launched, and without strict list verification, traders could easily accidentally purchase the wrong token. Our strict list has never endorsed a specific token, it is just our way of ensuring that users can purchase the correct token they intend to buy. By the way, our new organic scoring is aimed at helping to eliminate the need for this verification process, and instead let organic on-chain activity determine which tokens are the 'right' ones. We take allegations of insider trading extremely seriously. We have conducted our own investigation and found no evidence of any team members engaging in front-running. If you have evidence that Jupiter employees have leaked information or otherwise engaged in front-running, please contact us directly. If we find that any team members have taken action based on non-public information, we will take swift and decisive action. The whole LIBRA affair has been brutal, both for traders and for our ecosystem. In fact, many meme coins have long been detrimental to the ecosystem, with front-running, bundling, and all of this becoming the norm. We will absolutely not tolerate these extreme PVP releases. We are actively working on better internal and external systems to help improve the situation for everyone. As mentioned earlier, Meow will release a more detailed statement later today."
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