Track market-moving stories before they get noisy

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Worldcoin, the crypto project co-founded by OpenAI’s CEO Sam Altman, recently saw its token’s price drop over 6% following Alameda Research’s continued sales. Some analysts believe WLD’s price could continue to move sideways before recovering its bullish momentum.

Alameda Goes On A Worldcoin Sell-off On-chain data analysis firm SpotOnChain revealed that Alameda Research has sent part of its WLD holdings to crypto exchanges for the past two months. The report shared that, since early August, FTX’s sister company has transferred 1.56 million WLD tokens to Binance.

The firm has sent around 143,770 WLD tokens, worth around $2.51 million, every week since August 9, selling the tokens in 10 batches at an average price of $1.6. The news came two days after US Bankruptcy Judge John Dorsey approved FTX’s repayment plan.

The approval allows the crypto exchange to pay customers between $14.7 billion and $16.5 billion in recovered crypto assets. Alameda received around $8 billion of FTX users’ misappropriated funds, allegedly used for the fund’s trading operations.

Some suggest that the sell-off is linked to FTX’s repayment plan, which is expected to start soon and could signify further selling pressure from the companies. Per SpotOnChain’s report, Alameda’s wallet holds 23.44 million WLD tokens worth around $43 million.

At its current selling rate, it could take over three years to completely unload Alameda’s Worldcoin holdings. Additionally, other altcoins could face selling pressure from the company.

The wallet holds $98.8 million in other cryptocurrencies, including 100.9 million Stargate Finance (STG), 1.78 million Mantle (MNT), and 98.86 million BitDAO (BIT), now MNT. The company’s BIT holdings, valued at $68 million, could start being sold in November, as the 3-year no-sale commitment with BitDAO ends.

WLD Price Reacts To The News Following the sell-off report, Worldcoin saw a 6% dip in the daily timeframe. The token’s price dropped from the $1.98 mark to the $1.77 support zone in the last 24 hours, representing a 4.5% decline in WLD’s biweekly performance.

The cryptocurrency registered a remarkable 31% weekly surge in late September after Worldcoin announced its expansion to three new countries. As reported by NewsBTC, the crypto project revealed it was bringing its World ID services to Guatemala, Poland, and Malaysia.

The news, alongside the crypto market’s recovery, propelled the token’s price above the $2 mark, which was momentarily held. Since then, the token has struggled to reclaim the key support zone, hovering between $1.58-$2.03 levels for the past week.

Crypto analyst Yuiry from BikoTrading noted that WLD’s price retested the $1.5 crucial level after October 1’s drop, bouncing around 33% from this level. As the token continues trying to retest the $2 resistance level, the analyst expects it to move within its new $1.8-1.98 range for a few days before breaking above it.

As of this writing, WLD is trading at $1.8, an 8.7% and 27.4% increase in the weekly and monthly timeframes.

Worldcoin (WLD) performance in the weekly chart. Source: WLDUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com

TLDR XRP Ledger recorded $1.7 billion in net RWA inflows over the past 60 days. Ethereum led network outflows with $5.8 billion, leaving its RWA ecosystem. Arbitrum, Solana, and Polygon also posted net RWA outflows during the period. XRPL ranked among the few major networks reporting positive RWA capital flows. Stablecoin transfer volume on XRPL reached $5.11 billion, up 22.84% month-over-month. The XRP Ledger continued attracting capital into tokenized real-world assets while several blockchain networks recorded large outflows. Recent data from RWA.xyz showed the network posted $1.7 billion in net RWA inflows during the past 60 days. At the same time, competing chains reported declining asset flows across their tokenization ecosystems.

XRP Ledger Leads RWA Capital Growth RWA.xyz data showed the XRP Ledger gained $1.7 billion in net RWA inflows during the last 60 days. Meanwhile, several major blockchain networks recorded net outflows during the same period.

Ethereum posted the largest decline as $5.8 billion left the network. Arbitrum followed with $3.0 billion in outflows, while Solana lost $653 million and Polygon lost $250 million.

The figures placed the XRP Ledger among a small group of networks reporting positive capital movement. TRON and HyperEVM also recorded net inflows during the measured period.

Earlier data from the RWA Foundation reflected similar results across a longer timeframe. The organization reported that XRPL attracted $1.9 billion in net RWA inflows over 90 days.

That performance placed XRPL ahead of Ethereum, which recorded $1.6 billion in inflows. Stellar followed with $1.4 billion, while BNB Chain recorded $848 million.

Solana attracted $611 million during the same period. Avalanche posted $362 million, while Sei Network and Mantle recorded $202 million and $90 million.

The latest figures showed continued growth within XRPL’s tokenization ecosystem. They also reflected ongoing asset migration into the network’s RWA infrastructure.

Stablecoin Transfers and Treasury Assets Expand on XRPL Stablecoin activity on XRPL increased alongside rising RWA participation. According to RWA.xyz, stablecoin transfer volume reached $5.11 billion during the past 30 days.

The platform reported a 22.84% increase compared with the previous month. As a result, transaction activity continued to rise across the network’s stablecoin ecosystem.

Tokenized Treasury products also gained traction on XRPL during the same period. The Ondo Short-Term U.S. Government Bond Fund ranked as the second-largest tokenized asset on the network.

RWA.xyz reported approximately $259.6 million in transfers linked to the fund. Those transfers highlighted the growing use of tokenized government bond products.

Current data show XRPL holds about $3.56 billion in off-chain real-world assets. Those assets represent a large pool connected to the broader tokenization ecosystem.

Tokenized Asset Value Continues Rising XRPL expanded its tokenized asset base rapidly during the past fifteen months. The network’s tokenized RWA value increased from roughly $10 million in January 2025.

By April 2026, tokenized RWA value reached about $400 million. The increase occurred within approximately fifteen months of growth.

Ethereum required nearly 36 months to reach a comparable level. Meanwhile, XRPL’s tokenized RWA value climbed 78% during 2026.

The value increased from $227 million to $404 million year-to-date. During the same period, Ethereum recorded growth of 36%.

RWA.xyz data showed the latest inflow figures reached $1.7 billion over 60 days. Those figures represent the most recent reported activity across the XRP Ledger’s RWA market.

Crypto markets are demanding hard utility over speculation right now. Investors see this clearly as the Solana price slips to $69.53, cracking support, while the Pepe price today drops 8% to $0.0000031.

BlockDAG completely changes the conversation with its live Legacy Sale, pricing BDAG at just $0.00000044 per coin. This entry point pairs with a massive return on investment.

Additionally, its Buyback Program provides additional structure, locking the price at $0.03 per coin, and the existing holders can submit tokens at $0.00025 daily through a seamless dashboard. Beyond these numbers, the ecosystem features an active casino, a 30% Live Swap discount, and 4 million x1 app users awaiting the June 15 Super App launch. BlockDAG (BDAG) stands out as the best crypto to buy now.

Solana Price Drops Below Key Support Level Solana has extended its recent losses, pulling down the Solana price to around $69.53. This represents a decline of over 6% in the last 24 hours and a drop of more than 42% since the start of the year.

Market observers note that a key support level at $77 has been broken. Because many investors originally bought in at that price point, dropping below it means there is less immediate demand to stop the decline. Analysts suggest the next major downside target for the Solana price could be around $53.

Technical indicators support this cautious outlook, as the coin is currently trading below its 20, 50, 100, and 200-day moving averages. This broad downtrend reflects slowing activity on the network, which could put further pressure on the Solana price moving forward.

Pepe Price Faces Pressure Amid ETF Developments The Pepe Price today reflects sustained market pressure, with the token trading down at roughly $0.0000031 after a weekly drop of over 8%. Despite some optimism from a recent spot ETF filing in the United States, the token continues to struggle due to a limited product ecosystem. Technical indicators like the MACD and RSI highlight a clear downward trend. Traders are closely watching a critical support level at $0.00000304.

If sellers maintain control, the Pepe Price today will likely consolidate within a tight range between $0.00000304 and $0.00000352 over the coming week. Market experts suggest a rebound is unlikely right now. Without a sudden surge in demand, pressure will keep pushing the Pepe Price today lower.

BlockDAG Commands Attention with $0.00000044 Entry The BlockDAG Legacy Sale is officially live, and the numbers attached to it are almost impossible to ignore. BDAG is priced at $0.00000044 per coin, a figure that carries with it a major return on investment.

What gives this moment extra weight is the Buyback program, which runs in parallel. The buyback price is locked at $0.03 per BDAG. It also allows existing holders to submit BDAG at $0.00025 per coin, with daily submission limits in place and uncapped daily sell limits on the Legacy Sale side.

That combination of an ultra-low entry point and a hard buyback commitment is precisely what places BlockDAG at the top of the conversation around the best crypto to buy now. Both programs are accessible directly from the dashboard, meaning participation is seamless from the moment a holder logs in.

The ecosystem surrounding BDAG has never been more active. BDAG Casino is also live with deposits open, and users across the platform are already playing, winning, and earning. A 30% discount is also available through the Live Swap feature, extending the value proposition even further for new and existing participants.

The technical foundation backing all of this is substantial. BlockDAG’s x1 app currently counts more than 4 million users, a figure that continues to grow. The project holds the second most-viewed coin position on CoinMarketCap, and with the Super App confirmed for a June 15 release, the utility layer for BDAG holders is about to expand considerably. For anyone assessing where serious attention belongs in the current crypto market, BlockDAG is the answer.

The Last Line Market pressures continue to alter the digital asset environment, leaving legacy projects searching for traction. We see this clearly as the Solana price slides to $69.53 after breaching its critical support line, while the Pepe price today slips to $0.0000031 due to its restricted utility ecosystem.

BlockDAG answers this market shift by introducing an actual functional structure. It’s live Legacy Sale offers a limited -time entry point of $0.00000044. Safety parameters include a distinct $0.03 buyback program allowing daily user submissions at $0.00025.

This setup operates alongside a functioning casino, 30% swap discounts, and a 4-million-user x1 app preceding the June 15 Super App. It proves why BlockDAG (BDAG) remains the best crypto to buy now.

Presale: https://purchase.blockdag.network

Website: https://blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

A whale who netted $13.68 million from shorting 16 altcoins is suspected of selling 6,855.13 ETH.

According to on-chain analyst Ai Yi (@ai_9684xtpa), the Hyperliquid whale who once shorted 16 altcoins and pocketed $13.68 million in profits has started selling ETH. Five hours ago, during the market rebound, he deposited 6,855.13 ETH tokens worth $11.02 million into Binance, an action suspected to be for sale. These tokens were accumulated between February and March this year at an average price of $1,991 each; selling them would incur a loss of $2.625 million.

3 minutes ago

Strategy’s unrealized losses on its Bitcoin holdings have widened to $12.6 billion.

According to HTX market data, Bitcoin has dropped 3.13% over the past 24 hours, currently trading at $60,775. Strategy’s Bitcoin holdings are currently facing an unrealized loss of 19.7%, amounting to roughly $12.6 billion. As of June 21, Strategy holds a total of 847,363 Bitcoins, with a total cost of $64.1 billion and an average holding cost of $75,651 per Bitcoin.

3 minutes ago

Top 1 On-Chain Liquidation: ETH Bull Whale Hit With 4 Consecutive Forced Liquidations, $14.11 Million in Positions Liquidated

According to Hyperinsight monitoring, today’s largest liquidation on the Hyperliquid platform involved a high-leverage Ethereum (ETH) long whale. The address opened a long position yesterday when ETH was trading at roughly $1,661, and immediately incurred losses after entry. Triggered by ETH’s short-term dip below $1,600 in the early hours of today, the whale faced four consecutive liquidations, resulting in the forced closure of a total of 8,734 ETH positions valued at approximately $14.11 million. The address now holds less than $150,000 in remaining funds, with all positions fully cleared. Address: 0x1cb0b187c14a8c0fb36ca0dcbb775dcc7f02b408

3 minutes ago

A certain on-chain address opened long positions in BTC, ETH, and silver, and purchased $10.699 million worth of BTC and ETH spot.

According to on-chain analyst Ai Yi (@ai_9684xtpa)’s monitoring, address 0x960…3f0fc simultaneously went long on both futures and spot positions this early morning, opening long positions of 102.55 BTC, 954.38 ETH, and 8,790 silver units, with total position value around $8.29 million. It also purchased spot BTC and ETH worth approximately $10.699 million. Its current take-profit levels are set at $63,000 for BTC and $1,650 for ETH.

3 minutes ago

A whale that reaped over $23.77 million in profits from the Basic Attention Token (BAT) ICO has reawakened after six years of dormancy, offloading 12,600 ETH in the past two days.

According to monitoring by EmberCN, a whale address that participated in the BAT ICO in 2017 and generated approximately $23.77 million in total profits has started selling ETH recently after six years of inactivity. Over the past two days, the address has sold 12,586 ETH, receiving 20.59 million USDS in exchange, at an average selling price of roughly $1,636. The whale invested 17,789 ETH in the BAT ICO in May 2017, acquiring around 113.8 million BAT. It then sold BAT gradually over approximately two and a half years at an average price of $0.245, netting about $23.77 million in profits, with some of the BAT converted into 27,586 ETH. Since then, the ETH has remained inactive for a long time until it resumed reducing its holdings recently. Currently, the address still holds around 15,000 ETH, valued at approximately $24.29 million.

3 minutes ago

Japanese storage firm Kioxia plans to list American Depositary Receipts (ADRs) in the U.S. in April or May next year.

Market news: Japanese storage chip maker Kioxia plans to list its American Depositary Receipts (ADRs) in the U.S. in April or May next year. (Jinshi)

3 minutes ago

A whale who netted $13.68 million from shorting 16 altcoins is suspected of selling 6,855.13 ETH.

According to on-chain analyst Ai Yi (@ai_9684xtpa), the Hyperliquid whale who once shorted 16 altcoins and pocketed $13.68 million in profits has started selling ETH. Five hours ago, during the market rebound, he deposited 6,855.13 ETH tokens worth $11.02 million into Binance, an action suspected to be for sale. These tokens were accumulated between February and March this year at an average price of $1,991 each; selling them would incur a loss of $2.625 million.

2 minutes ago

Strategy’s unrealized losses on its Bitcoin holdings have widened to $12.6 billion.

According to HTX market data, Bitcoin has dropped 3.13% over the past 24 hours, currently trading at $60,775. Strategy’s Bitcoin holdings are currently facing an unrealized loss of 19.7%, amounting to roughly $12.6 billion. As of June 21, Strategy holds a total of 847,363 Bitcoins, with a total cost of $64.1 billion and an average holding cost of $75,651 per Bitcoin.

2 minutes ago

Top 1 On-Chain Liquidation: ETH Bull Whale Hit With 4 Consecutive Forced Liquidations, $14.11 Million in Positions Liquidated

According to Hyperinsight monitoring, today’s largest liquidation on the Hyperliquid platform involved a high-leverage Ethereum (ETH) long whale. The address opened a long position yesterday when ETH was trading at roughly $1,661, and immediately incurred losses after entry. Triggered by ETH’s short-term dip below $1,600 in the early hours of today, the whale faced four consecutive liquidations, resulting in the forced closure of a total of 8,734 ETH positions valued at approximately $14.11 million. The address now holds less than $150,000 in remaining funds, with all positions fully cleared. Address: 0x1cb0b187c14a8c0fb36ca0dcbb775dcc7f02b408

2 minutes ago

A certain on-chain address opened long positions in BTC, ETH, and silver, and purchased $10.699 million worth of BTC and ETH spot.

According to on-chain analyst Ai Yi (@ai_9684xtpa)’s monitoring, address 0x960…3f0fc simultaneously went long on both futures and spot positions this early morning, opening long positions of 102.55 BTC, 954.38 ETH, and 8,790 silver units, with total position value around $8.29 million. It also purchased spot BTC and ETH worth approximately $10.699 million. Its current take-profit levels are set at $63,000 for BTC and $1,650 for ETH.

2 minutes ago

A whale that reaped over $23.77 million in profits from the Basic Attention Token (BAT) ICO has reawakened after six years of dormancy, offloading 12,600 ETH in the past two days.

According to monitoring by EmberCN, a whale address that participated in the BAT ICO in 2017 and generated approximately $23.77 million in total profits has started selling ETH recently after six years of inactivity. Over the past two days, the address has sold 12,586 ETH, receiving 20.59 million USDS in exchange, at an average selling price of roughly $1,636. The whale invested 17,789 ETH in the BAT ICO in May 2017, acquiring around 113.8 million BAT. It then sold BAT gradually over approximately two and a half years at an average price of $0.245, netting about $23.77 million in profits, with some of the BAT converted into 27,586 ETH. Since then, the ETH has remained inactive for a long time until it resumed reducing its holdings recently. Currently, the address still holds around 15,000 ETH, valued at approximately $24.29 million.

2 minutes ago

Japanese storage firm Kioxia plans to list American Depositary Receipts (ADRs) in the U.S. in April or May next year.

Market news: Japanese storage chip maker Kioxia plans to list its American Depositary Receipts (ADRs) in the U.S. in April or May next year. (Jinshi)

2 minutes ago

The crypto market is right on the edge of massive breakout as multiple indicators signal. Solana is breaking out of months of consolidation, Hyperliquid just shattered its HYPE all-time high, and institutional money is flooding back into digital assets with serious conviction. But while the headlines belong to established giants, the smartest money in crypto has always been made one step earlier, in the presale window, before the crowd arrives.

BlockDAG’s Turbo is that window right now. A fixed 50B supply. An exclusive 90 day presale. A burn engine running every single week. Casino utility, staking, VIP access, and NFT mechanics already in motion. And a top crypto presale price that could look like generational value once exchange listings begin. This is where 300x is born.

Turbo’s Supply Shock is Already in Motion: The Top Crypto Presale Now 

The math behind Turbo is simple, brutal, and powerful. 50,000,000,000 tokens minted at genesis. Not one more. Ever. From that fixed ceiling, the burn engine immediately starts cutting downward, with a long-term target of halving total supply to 25 billion through sustained weekly Foundation burns. Every week, 90% of Foundation activity goes to a permanent burn wallet, transaction hash published, verifiable on the BlockDAG Explorer by anyone. The supply shrinks. Every single week. Automatically.

Layer demand on top of that shrinking supply. Turbo has casino and gaming utility driving high-frequency transactions, staking mechanics reducing active circulation, VIP tiers incentivising accumulation, NFT access layers creating additional demand sinks, and a weekly prize pool rewarding holders simply for staying in the ecosystem. Every mechanism is a reason to hold, accumulate, and not sell.

This is precisely the dynamic that made Bitcoin’s halving cycles legendary. Demand grows. Supply shrinks. The price does what supply and demand always do when they move in opposite directions. Early BTC buyers who understood fixed supply before halvings hit turned modest entries into generational wealth. Early SOL participants who got in before the meme coin supercycle saw 300x and beyond. Turbo sits at that exact inflection point, a top crypto presale with a deflationary engine already running and exchange listings not yet arrived.

That last point is everything. The 90-day ten-round Access Round structure means every closing round removes supply from public allocation permanently. Once exchange listings begin and buyers who missed the presale start bidding, the ground floor is mathematically gone. This is still a top crypto presale. That changes soon.

Solana’s Breakout Is Real, And The Numbers Back It Up

SOL price prediction models are turning sharply bullish as Solana breaks above months of descending resistance. Currently trading around $85-95, up from April lows near $80, InvestingHaven forecasts a path toward $100-$110 by end of Q2 and a potential 2026 peak of $150. The Alpenglow upgrade, described by Anza as the biggest consensus change in Solana’s history, went live on a community validator test cluster on May 11, targeting block finality of 100-150 milliseconds and removing validator vote transactions that currently consume 75% of block space.

A crypto-friendly Federal Reserve Chair who personally holds SOL was sworn in on May 23. Western Union is exploring Solana-based stablecoin rails. Google Cloud and the Solana Foundation launched Pay.sh for AI agent payments. The fundamentals have never looked stronger.

After New HYPE All Time High: Momentum Shows No Signs of Stopping

The HYPE all-time high of $64.24 was reached on May 24, capping a staggering 40%-plus surge in seven days and pushing Hyperliquid’s market cap above $15 billion to rank 11th globally. The engine behind the move is structural, Hyperliquid routes 97% of all trading fees into its Assistance Fund to buy back HYPE from the open market, with cumulative buybacks topping $1.16 billion since launch.

Two spot ETFs, Bitwise’s BHYP and 21Shares’ THYP, pulled in over $53 million in combined inflows since their May launches. The platform is expanding aggressively into pre-IPO trading, prediction contracts, and tokenized real-world assets. The SpaceX synthetic pre-IPO contract launched May 18, spiked from $150 to $216 within hours, and drove a 7% HYPE rally in a flat market.

Why Turbo Could be the Next Breakout Star

Solana’s Alpenglow upgrade and Hyperliquid’s relentless buyback engine are two of the most compelling stories in crypto right now, delivering serious returns for those who positioned early. But both have already moved significantly. The SOL price prediction upside is real but measured against an asset already trading between $85 and $150. The HYPE all-time high just printed at $64. The easy money in those trades belongs to whoever got in months ago.

Turbo is the trade that hasn’t happened yet, a deflationary top crypto presale with a burn engine running weekly, real utility live across gaming, staking, and VIP access, and a fixed 50B supply being permanently reduced before exchange listings arrive. The 300x window is open. It is also closing, round by round, burn by burn. Every week you wait, more supply is gone forever.

Explore BlockDAG Turbo Now:

Presale: https://purchase.blockdag.network

Website: https://blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

SongMarketCap founder Jure Karamarko has criticized the Cardano community for failing to support meme coin creator platform Snek.fun in the same way the Solana community rallied behind Pump.fun.

According to Karamarko, this lack of collective support continues to limit Cardano’s growth, visibility, and ability to attract major partnerships.

Key Points SongMarketCap founder Jure Karamarko criticized the Cardano community for failing to support Snek.fun the way Solana users supported Pump.fun.  Karamarko said Solana’s ecosystem momentum has helped attract partnerships and integrations with companies such as Visa, PayPal, and Circle.  Shortly after launch, Snek.fun attracted significant traction, with more than 20,000 users joining within minutes.   While Snek.fun allocates up to 1% of trading fees to creators, Pump.fun offers between 0.05% and 0.95% in creator rewards.  Community Support for Pump.fun Attracted Visa and PayPal to Solana: Karamarko  Taking to X, Karamarko stated that the Solana community aggressively supported PumpFun by promoting, trading, and sharing the platform across social media. As a result, the ecosystem generated massive trading volume, which later translated into attention, liquidity, and broader ecosystem development.

According to Karamarko, this growth eventually helped Solana secure partnerships and integrations with major companies, including Visa, Circle, Western Union, PayPal, Worldpay, and Shopify.

Criticism Over Lack of Support for SNEK and SnekFun In contrast, Karamarko argued that the Cardano community has failed to support ecosystem projects with the same intensity, particularly popular meme coin SNEK and its meme coin creator platform, Snek.fun.

He noted that despite the team recently introducing a creator fee model, influential figures within the Cardano ecosystem largely ignored the development. Consequently, Karamarko criticized several prominent Cardano voices for failing to publicly support the initiative despite frequently discussing ecosystem growth and adoption.

Although Karamarko acknowledged that meme coins are speculative and often fail, he argued that Solana likely would not have achieved its current level of ecosystem growth if its community had rejected meme-driven activity from the beginning.

Pump.fun Gains Significant Traction Despite Low Creator Fee Model  For context, the team behind SNEK launched Snek.fun as a meme coin creator platform that serves a similar role on Cardano to what Pump.fun provides on Solana. Shortly after launch, Snek.fun gained significant traction, attracting more than 20,000 users within minutes.

In addition, Snek.fun offers creators a more attractive fee structure than Pump.fun. While Snek.fun allocates 1% of trading fees to creators, Pump.fun offers between 0.05% and 0.95% in creator rewards.

Despite this difference, creators continue to flock to Pump.fun, where users have already deployed more than 8 million coins through the platform. 

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Ben Chow, co-founder of Solana-based decentralized exchange Meteora, has stepped down following allegations that he privately received or managed LIBRA tokens.

Chow’s resignation was announced on X by Meow, pseudonymous co-founder of both Meteora and Jupiter. Meow stressed their dedication to openness and reassured the community that neither project was involved in insider trading or financial misconduct. 

A respectable legal firm, Fenwick & West, has been hired by the companies to carry out an independent investigation into the claims. Meow stated that the results of the investigation will be made public. 

https://twitter.com/weremeow/status/1891664435321647186?s=46&t=nznXkss3debX8JIhNzHmzw

Meteora, which has operated independently from Jupiter for over a year, had been led by Chow without significant involvement from meow. While Meow expressed confidence in Chow’s character, he cited a lack of judgment in recent months regarding Meteora’s core operations as a reason for the resignation. 

The controversial LIBRA memecoin, to which Chow was linked, gained rapid attention after Argentine President Javier Milei’s public mention of the token. The value of LIBRA surged to over $4 before plummeting to less than 50 cents. Rumors of market manipulation were sparked by reports that insiders cashed out over $100 million while buyers incurred large losses.

Milei’s involvement with the token has ignited political tensions in Argentina, with opposition leaders calling for his resignation. The nation’s Anti-Corruption Office is now reviewing the case, and Federal Judge María Servini is overseeing a legal probe into the matter.

The LIBRA incident has sent shockwaves through the crypto space, highlighting the risks involved in memecoin trading. On February 17, Binance co-founder Chang Peng Zhao offered to donate 150 Binance Coin (BNB) as part of an effort to compensate victims of the scam.

Ben Chow, who co-founded Solana-based DEXs Jupiter and Meteora, departed from Meteora amid allegations of insider trading and misconduct linked to the collapse of the Libra meme token.

His resignation was shared by Meow, Jupiter’s pseudonymous co-founder, on X (formerly Twitter) on Monday evening.

Memecoin Madness! Meow clarified that Meteora has operated independently from Jupiter for over a year, with Ben leading the team. Meow praised Ben’s efforts in transforming Meteora into an innovative DEX with an active community.

The key figure in the Solana ecosystem also voiced support for Ben. However, despite Meow’s confidence in Ben’s character, he noted that Ben’s recent judgment and attention to the project fell short of expectations, given its current size and reputation. As a result, he has resigned, and Meteora is now searching for a new leader.

Meow reiterated in the statement that no one at Jupiter or Meteora engaged in insider trading, financial wrongdoing, or inappropriate token distribution. In a bid to ensure transparency and address public concerns, Meow said the team is hiring law firm Fenwick & West to conduct a thorough investigation and publish a report.

Hi, I’m meow from Jupiter, and I also cofounded Meteora.

Firstly, I’d like to reiterate my confidence that no one at Jupiter or Meteora committed any insider trading or financial wrongdoing, or received any tokens inappropriately.

Secondly, we are hiring an independent 3rd…

— meow (🐱, 🐐) (@weremeow) February 18, 2025

Regarding Jupiter, Meow affirmed the platform’s long-standing commitment to token transparency and to reinvesting the majority of its earnings back into the Solana ecosystem. Jupiter’s head added that they have never sold JUP tokens and rarely trade meme coins.

Meow concluded with an apology to the community and the ecosystem.

He described the situation as a “watershed moment” and shared his vision for the future, which includes developing permissionless products, creating Jupnet, and establishing higher standards for token integrity and transparency across the industry.

Launched on Feb. 14 and promoted by Milei as a way to support small businesses and stimulate economic growth, the LIBRA token saw its valuation soar to $4.5 billion shortly after its launch. But the rally was short-lived. The token collapsed dramatically on launch date.

Critics have labeled this situation a potential “rug pull” scam, where initial investors inflate the value before withdrawing their investments. Milei, for his part, faces fraud charges for being part of a fraudulent association that misled investors.

The scandal has prompted calls for impeachment from opposition lawmakers, who argue that Milei’s actions constitute serious misconduct.

Jupiter and Meteora have faced mounting backlash from the cryptocurrency community regarding their alleged part in the collapse of the Libra coin. Many crypto community members have accused the two DEXs, as well as other prominent crypto influencers, of engaging in insider trading and sniping.

Jupiter and Meteora both denied any involvement in the LIBRA meme coin’s price manipulation. In a statement on Feb. 16, Jupiter stated that they prioritize transparency, especially when it comes to meme coin dealings, and insisted they had nothing to do with LIBRA’s wild price swings.

Jupiter added that some team members learned about the project tied to President Milei just two weeks prior, initially skeptical until Milei himself tweeted about it. However, Jupiter claims no knowledge of any deals between Milei, Kelsier Ventures, the token team, or market makers, and said they weren’t involved in any LIBRA trading.

Addressing criticism about quickly verifying LIBRA, Jupiter explained they don’t do instant verifications.

LIBRA already had a huge market cap when it hit their “Strict List,” and the “Verified” icon in their search engine only came after it had decent liquidity and community support. They clarified that verification wasn’t an endorsement, but a way to protect users from the flood of fake tokens that popped up around LIBRA’s launch.

According to Jupiter, Meteora’s Ben confirmed he only got the contract address minutes before launch, purely for verification, and didn’t share it with Jupiter until it was public. Chow also put out his own statement, saying he and Meteora weren’t involved in LIBRA’s sales or marketing, just contacted for tech support at the launch.

More Details Surface Ben’s departure and Meow’s statement come as more information about the Libra token launch scheme has surfaced.

A video obtained by SolanaFloor showed that DefiTuna founder Dhirk informed Ben of Hayden Davis’s alleged misconduct in meme coin launches, including witnessing Kelsier members sniping. Davis is the CEO of Kelsier Ventures, a key entity in the Libra scandal.

Ben, despite denying his involvement and even announcing he would step down, was spotted by many that he knew in advance about Hayden’s plan, but chose not to warn the community about it.

Nicholas Say

Nicholas Say was born in Ann Arbor, Michigan. He has traveled extensively, lived in Uruguay for many years, and currently resides in the Far East. His writing can be found all over the web, with special emphasis placed on realistic development, and the next generation of human technology.

Ben Chow, co-founder of Meteora, has stepped down from his role following scrutiny over the botched launch of the Libra (CRYPTO: LIBRA) token, a Solana (CRYPTO: SOL)-based meme coin.

Meow, the pseudonymous co-founder of both Meteora and Jupiter (CRYPTO: JUP), announced that neither he nor anyone at either project had benefited financially from the token.

“No one at Jupiter or Meteora committed any insider trading or financial wrongdoing, or received any tokens inappropriately,” Meow said in a statement on X.

Also Read: Michael Saylor: Bitcoin Adoption Hindered By Institutional Under-Allocation

Meteora has hired the law firm Fenwick & West to conduct an independent investigation and release a public report.

Meow stood by Chow's integrity but cited concerns about his leadership in recent months, adding: “As a project lead, he has shown a lack of judgment and care about some of the core aspects of the project.”

Chow acknowledged the issues and voluntarily stepped down, with Meteora now searching for new leadership, according to the statement.

The resignation comes amid a wider controversy surrounding the Libra token.y Argentina's President Javier Milei as a tool to support small businesses.

Following Milei's endorsement, the token's value surged to a $4.5 billion market cap before crashing 90 percent within days. It wiped out billions of dollars in investor wealth.

The fallout has triggered impeachment calls against the president. Opposition leader Esteban Paulon is leading efforts to investigate Milei's alleged ties to the token's launch.

Meteora's role in the LIBRA launch has been under scrutiny. Chow has denied any wrongdoing.

“Neither I nor the Meteora team compromised the LIBRA launch by leaking information, nor did we purchase, receive, or manage any tokens,” Chow stated.

He explained that Meteora merely provided IT support for the token's liquidity setup and did not directly handle its deployment.

The LIBRA debacle has had broader implications for the Solana ecosystem, with SOL's price dropping sharply against both the US dollar and Ethereum (CRYPTO: ETH).

The influx of speculative meme coins, fueled by low barriers to token creation, has fragmented liquidity and diminished interest in established altcoins.

Official Trump, a meme coin launched by President Donald Trump, is currently down over 78% from its all-time high a month ago.

What's Next For Meteora?Meow insists that Jupiter maintains strict transparency standards and token integrity across the crypto ecosystem.

“The way to grow the industry is not simply via more tokens but to have projects that have the same level of token certainty, long-term alignment, and extreme transparency,” he said.

Read Next:

Record-Breaking Token Creation In January Raises Concerns Over Altcoin Liquidity, Market Quality Image: Shutterstock

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A widely followed crypto strategist is predicting bullish continuations for a handful of altcoins including Solana (SOL), Chainlink (LINK) and Polygon (MATIC).

Analyst Michaël van de Poppe tells his 692,000 followers on the social media platform X that the native asset of the smart contract platform Solana looks primed for a move to the upside.

[adinserter block="1"]

According to the analyst, Solana’s consolidation period appears to have ended after SOL bounced from its recent low of around $79.

“Looks likely we’ll be continuing towards $140.” 

Source: Michaël van de Poppe/X At time of writing, SOL is worth $103, up over 6% in the past day.

Looking at the native asset of the decentralized oracle Chainlink, Van de Poppe also thinks LINK is ripe for a burst to the upside.

“This one is ready for $25 as it has been holding crucial levels.” 

Source: Michaël van de Poppe/X At time of writing, LINK is worth $14.98, up over 2% in the last 24 hours.

Next up is the native asset of the blockchain scaling solution Polygon. According to Van de Poppe, MATIC could rise by as much as 85% from current levels.

“Higher timeframe support levels have been holding and liquidity has been taken.

I’m expecting another upward push, although MATIC has also been underperforming.

Next rally could be to the $1.25-1.50 region.” 

Source: Michaël van de Poppe/X At time of writing, MATIC is trading at $0.817.

The analyst also has his radar locked on the Ethereum (ETH) scaling solution Arbitrum (ARB). Van de Poppe says ARB looks poised for a big surge after holding the $1.60 level as support.

“If it gets back in the $1.40-1.60 area, it’s obviously an entry, but I think we’ll continue with the Layer 2s. Probably this one can surge to $3-$4.” 

Source: Michaël van de Poppe/X At time of writing, ARB is worth $1.85.

The last coin on the trader’s list is the native asset of the interoperable blockchain Polkadot (DOT). Van de Poppe believes that DOT could ignite a more than 100% rally after its recent pullback.

“Great weekly candle across the board, including DOT. Had a 30-40% correction, which are massive opportunities within a bull market. I think we’re ready for the next upward impulse move, perhaps $15 for Polkadot.”

Source: Michaël van de Poppe/X At time of writing, DOT is worth $7.

Generated Image: Midjourney

May 13, 2026, 4:48 p.m.

6 min read

Summary

Welcome to The Protocol, CoinDesk's weekly wrap of the most important stories in cryptocurrency tech development. I’m Margaux Nijkerk, a reporter at CoinDesk.

In this issue:

The biggest consensus overhaul in Solana history is officially live for testingLayerZero says it "made a mistake" in $292 million Kelp exploitRonin set to transition to Ethereum layer 2 from independent sidechainThe Ethereum Foundation unveils new "Clear Signing" standard to stop users from approving malicious crypto transactionsNetwork News"ALPENGLOW" UPGRADE LIVE FOR TESTING ON SOLANA: Solana developer Anza said that Alpenglow, the network’s biggest proposed consensus overhaul to date, is live on a community test cluster, marking a major step toward a potential mainnet rollout. The update means validator operators can now test software designed to move Solana from its current consensus system, which combines Proof-of-Stake with TowerBFT and Proof-of-History, toward a new architecture intended to dramatically reduce finality times and improve network responsiveness. “Alpenglow is live on the community test cluster,” Anza wrote on X. “The biggest consensus change in Solana’s history, now running on validator infrastructure ahead of mainnet.” Today, Solana relies on Proof-of-History, a cryptographic clock that timestamps transactions, alongside TowerBFT, a voting mechanism validators use to agree on the state of the blockchain. While the design has helped Solana achieve high throughput and low fees, some have pointed to outages and network instability during periods of heavy demand. — Margaux Nijkerk Read more.

LAYERZERO APOLOGY FOR KELP DAO INCIDENT: LayerZero said that it “made a mistake” allowing its own verification infrastructure to secure high-value crypto assets in a vulnerable configuration, marking a notable shift in tone after weeks of blaming developer Kelp DAO for a $292 million hack tied to North Korean attackers. The admission marks a notable shift after weeks of public finger-pointing between LayerZero and Kelp over responsibility for the April hack, which LayerZero had initially framed as an application-level configuration failure by Kelp. “First things first: an overdue apology,” LayerZero wrote in a blog. LayerZero initially blamed Kelp, arguing the protocol had chosen a risky “1-of-1” configuration in which only a single decentralized verifier network, or DVN, needed to approve cross-chain transfers, creating a single point of failure. A DVN is part of the infrastructure that verifies whether a transaction moving assets between blockchains is legitimate. “We made a mistake by allowing our DVN to act as a 1/1 DVN for high-value transactions,” the company said. “We didn't police what our DVN was securing, which created a risk we simply didn't see. We own that.” — Sam Reynolds Read more.

RONIN TO TRANSITION TO LAYER-2: Ronin, the gaming-centric blockchain once synonymous with the industry’s infamous $625 million exploit in 2022, is officially shedding its sidechain skin on May 12 to become an Ethereum layer 2 to improve security while maintaining throughput. Ronin, which announced the migration in April, will execute a hard fork at block 55,577,490, a process that will result in about 10 hours of downtime for users, the network said Monday on X. According to onchain data, the migration is expected to begin on Tuesday around 15:16 UTC. “Four years ago, we launched Ronin because Axie Infinity needed a faster and more efficient network,” Ronin said when announcing the migration. “It worked. Axie Infinity onboarded millions of gamers to crypto, and Pixels proved that it was possible to do it again.” The time has come to plug "back into the mothership." While operating as an independent sidechain in mid-May 2022, Ronin suffered what is still today the largest DeFI bridge exploit in history. Layer 2 protocols benefit from tighter links to the underlying blockchain than sidechains, offering benefits that include greater security. — Olivier Acuna Read more.

ETHEREUM DEVELOPERS RELEASE “CLEAR SIGNING”: The Ethereum Foundation and a group of major crypto wallet developers are rolling out a new security standard designed to stop users from accidentally signing away their funds, a problem that has fueled some of the industry’s biggest hacks and scams. The initiative, called “Clear Signing,” aims to replace the confusing walls of code users currently see when approving Ethereum transactions with simple, human-readable explanations of what they’re actually agreeing to. The effort comes after years of phishing attacks and wallet drains that often boil down to the same issue: users unknowingly approving malicious transactions they don’t understand. The Ethereum Foundation pointed to incidents like the Bybit hack as examples of how attackers exploit “blind signing,” where users approve transactions filled with unreadable technical data. Right now, signing a crypto transaction can feel like clicking “accept” on a terms-of-service page written in another language. Wallets often display long strings of code that only highly technical users can decipher, leaving everyday traders vulnerable to fake apps, malicious links and compromised websites. — Margaux Nijkerk Read More.

In Other NewsCharles Schwab, the brokerage giant that manages around $12 trillion in client assets, began the rollout of its spot cryptocurrency trading service for retail customers in the U.S. An initial group of clients can now trade bitcoin and ether (ETH) on the Schwab Crypto platform, the company posted on X.In July last year, CEO Rick Wurster said the company planned to introduce crypto trading in the near future, with a timeframe of first-half 2026 confirmed last month. The Westlake, Texas-headquartered firm already offers crypto investments through exchange-traded funds (ETFs) and futures trading. — Jamie Crawley Read more.JPMorgan (JPM) is preparing to launch a tokenized money market fund, the latest sign that major financial institutions and Wall Street asset managers are speeding up efforts to move traditional assets onto blockchain rails. A filing with the U.S. Securities and Exchange Commission SEC) outlined plans for a blockchain-based money-market fund investing exclusively in short-term U.S. Treasuries, cash and overnight repo agreements backed by government securities. The fund, dubbed JPMorgan OnChain Liquidity-Token Money Market Fund (JLTXX), will maintain blockchain-based token balances tied to investors' ownership records, allowing approved users to submit purchase, redemption and transfer requests through Ethereum, the filing said. The underlying blockchain infrastructure will be operated by Kinexys Digital Assets, JPMorgan’s blockchain unit formerly known as Onyx. — Kristzian Sandor Read more.Regulatory and PolicyThe legislation that could fully insert the U.S. crypto industry into the regulated financial system has emerged in its latest form, with the Senate Banking Committee unveiling the market structure bill's text just after midnight on Tuesday in advance of this week's hearing that's set to push the effort forward. The latest version wasn't expected to offer many surprises for the crypto industry that's already had a chance to dig through it privately, but it includes still-contentious language on stablecoin yield and it maintains legal protections for decentralized finance (DeFi) developers, keeping that corner of the crypto sector happy (so far). Industry insiders waited for the release late into the night, and they'll still have to study the language to ensure their expectations were met. "This bill reflects serious, good-faith work across the committee and delivers the certainty, safeguards, and accountability Americans deserve," committee Chairman Tim Scott said in a statement. "It puts consumers first, combats illicit finance, cracks down on criminals and foreign adversaries and keeps the future of finance here in the United States." — Jesse Hamilton Read more.The Senate confirmed Kevin Warsh to the Federal Reserve Board of Governors on Tuesday, moving President Donald Trump’s pick one step closer to becoming the next chair of the U.S. central bank. Lawmakers approved Warsh in a 51-45 vote. Sen. John Fetterman (D-Pa.) was the only Democrat to support the nomination. Warsh still must win a separate Senate vote to become Fed chair, which is expected Wednesday. Governors serve 14-year terms while the chair serves a four-year term. If confirmed as chair, Warsh, 56, will replace Jerome Powell, whose eight-year term leading the Fed ends Friday. Powell, however, has said he plans to remain on the board until a federal probe into renovations at the Fed’s headquarters concludes. — Helene Braun Read more.Calendar

June 2-3, 2026: Proof of Talk, ParisJune 4, 2026: Stable Summit, New YorkJune 8-10, 2026: ETHConf, New YorkSept. 29-Oct.1, 2026: Korea Blockchain Week, SeoulOct. 7-8, 2026: Token2049, SingaporeNov. 3-6, 2026: Devcon, MumbaiNov. 15-17, 2026: Solana Breakpoint, LondonRelated Assets

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Amid the ongoing pullback in Solana, whale activity involving SOL has been on the rise, particularly in staking wallets.

Transaction records on SolScan reveal substantial whale activity, with several SOL transfers from Binance to the wallet address AA21…VxH9. Lookonchain’s analysis indicates that this whale moved 206,111 SOL, valued at $36 million, from the Binance exchange over the past nine days.

Whales continue to buy $SOL and stake it!

AA21…VxH9 has withdrawn 206,111 $SOL($36M) from #Binance and staked it in the past 9 days.https://t.co/1vpVWG5SSK pic.twitter.com/42EAFnhQ7D

— Lookonchain (@lookonchain) October 31, 2024

Such movements, especially from large holders, typically indicate an optimistic outlook, as whales choose to stake their assets rather than keep them liquid for immediate trading. The whale’s portfolio is currently valued at approximately $29 million, primarily consisting of Marinade Staked SOL (mSOL). Its staking account holds 38,043 SOL, valued at $6,622,572.

Historical Whale Accumulations This recent whale activity builds on earlier acquisitions by other participants. In September, a different whale accumulated 34,807 SOL, amounting to $4.52 million, and has since moved 207,000 SOL to self-custody since February. These holdings were acquired at an average price of $142, and approximately 115,135 SOL, valued at $15.3 million, were subsequently staked.

It is important to note that Solana’s (SOL) performance in 2024 has shown volatility, but recent data points to renewed whale interest and staking activity. After an early-year surge, SOL encountered resistance at the $200 mark, causing its price to fluctuate between $125 and $180.

Projected Uptrend for Solana This retracement coincided with technical analysis showing an emerging bullish flag pattern on Solana, potentially indicating a further upward trend. Analyst Xanrox has identified a continuation pattern, suggesting that the current consolidation phase may precede another price increase.

For context, over the past week, SOL has gained traction again, reaching $183 after a brief retracement that pulled it back to $174 during this press.

According to Elliott Wave theory cited by Xanrox, SOL has already demonstrated impressive gains in wave 3 and is now progressing toward wave 5.

Fibonacci analysis from Xanrox outlines two potential price targets for SOL: a 0.382 retracement level at $383.39 and a 0.618 level at $829.17, marking potential gains of 119.9% and 372.77%, respectively. While a minor pullback may test the $147 level, overall sentiment remains positive for Solana’s trajectory.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.