The X account of Meteora co-founder Ben Chow was reported to have been hacked after it posted a tweet reigniting the controversy around the launch of the Libra (LIBRA), Melania Meme (MELANIA) and Official Trump (TRUMP) memecoin tokens that ultimately led to his resignation.
On March 11, Chow’s X account posted an “official statement” about his departure from Meteora. The post called out DefiTuna founders Vlad Pozniakov and Dhirk, claiming the duo’s sole intention was to extract the maximum funds possible from various memecoin token launches, including MELANIA, Mates (MATES) and a Raydium launch.
“As a long time Solana builder, the reason I stepped down is because I am far too trusting for how parasitic the memecoin space is.”
Source: Ben Chow (Deleted post)
The controversial memecoin plot thickens for Meteora
However, Meteora’s official X account flagged the post as fraudulent, claiming that Chow’s X account was compromised and urged users to refrain from clicking on any links.
Chow did not respond to Cointelegraph’s request for comment. The fraudulent tweet has since been deleted after the account was recovered by Meteora.
Chow’s message contained alleged screenshots of WhatsApp conversations between Kelsier Ventures CEO Hayden Davis, Kelsier Ventures’ chief operating officer Gideon Davis, and Pozniakov discussing the MATES token, where one was quoted saying: “Yeah fellas tbh we are trying to max extract on this one.”
The legitimacy of the conversations could not be verified.
Implications of memecoin speculation in Argentine politics
Argentine President Javier Milei is facing calls for impeachment after endorsing a Solana-native LIBRA token. Milei’s endorsement caused the token’s value to surge from near zero to $5, briefly reaching a $4 billion market capitalization.
Milei dismissed rug pull allegations, claiming that he regularly promotes business projects as part of his free-market philosophy. His endorsement of the KIP Protocol, the developers behind LIBRA, was a part of the broader policy.
Securities exchange Cboe BZX is seeking permission from US regulators to incorporate staking into Fidelity’s Ether exchange-traded fund (ETF), according to a March 11 filing.
The filing marks Cboe’s latest attempt to support staking for the Ether (ETH) funds traded on its US exchange.
Cboe’s proposed rule change would allow Fidelity Ethereum Fund (FETH) to “stake, or cause to be staked, all or a portion of the Trust’s ether through one or more trusted staking providers,” the filing said.
The Fidelity Ethereum Fund is among the most popular Ether ETFs, with nearly $1 billion in assets under management, according to data from VettaFi.
In February, Cboe asked permission to add staking to another Ether ETF, the 21Shares Core Ethereum ETF.
Staking Ether enhances returns and involves posting ETH as collateral with a validator in exchange for rewards.
As of March 11, staking Ether yields approximately 3.3% APR, denominated in ETH, according to Staking Rewards.
Other popular cryptocurrencies, including Solana (SOL), also feature staking mechanisms.
The US Securities and Exchange Commission must still approve Cboe’s proposed rule changes before staking can commence.
In February, the SEC acknowledged more than a dozen exchange filings related to cryptocurrency ETFs, according to records.
The SEC’s acknowledgments highlight how the agency has softened its stance on crypto since US President Donald Trump started his second term on Jan. 20.
In addition to staking, the filings, submitted by Cboe and other exchanges, addressed proposed rule changes concerning options, in-kind redemptions and new types of altcoin funds.
Cboe has also asked permission to list Canary and WisdomTree’s proposed XRP (XRP) ETFs and support in-kind creations and redemptions for Fidelity’s Bitcoin (BTC) and ETH ETFs, among other proposed changes.
A member of the Texas legislature has proposed a bill that could limit the amount local and state authorities invest in cryptocurrency as a reserve asset.
In a bill filed on March 10, Texas Representative Ron Reynolds proposed the state’s comptroller not be allowed to invest more than $250 million of its Economic Stabilization Fund — otherwise known as a “rainy day” fund — in Bitcoin (BTC) or other cryptocurrencies. The legislation also suggested that Texas municipalities or counties could not invest more than $10 million in crypto.
HB 4258, filed by Texas Representative Ron Reynolds. Source: Texas legislature
The proposed bill followed the Texas Senate passing legislation on March 6 to establish a strategic Bitcoin reserve in the state. The SB 21 bill seemingly could allow the Texas comptroller to have no limit on purchasing BTC for a reserve, based on the most recent draft.
The plan for a strategic Bitcoin reserve in Texas was one of many separate bills proposed in US state governments following the inauguration of President Donald Trump and Republican lawmakers winning control of the US House of Representatives and Senate. Texas Lieutenant Governor Dan Patrick said in January that the state’s legislative priorities for 2025 would include a proposal to establish a Texas Bitcoin Reserve.
Is there a partisan divide on state and federal crypto plans?
It’s unclear if Rep. Reynolds, a Democrat, intended to support the BTC reserve bill introduced by State Senator Charles Schwertner, a Republican, or propose restrictions in the event the legislation becomes law. If passed and signed by Governor Greg Abbott, the bill would take effect on Sept. 1. Cointelegraph reached out to Rep. Reynolds’ office for comment but did not receive a response at the time of publication.
Though Trump signed an executive order on March 7 to create a federal “Strategic Bitcoin Reserve” and “Digital Asset Stockpile,” many legal experts have questioned the US president’s authority to enact specific policies through EOs. Wyoming Senator Cynthia Lummis reintroduced legislation on March 11 to codify the proposed BTC reserve into law in the Senate.
Ousted Reform UK MP Rupert Lowe has told Sky News he has not ruled out joining the Conservatives or a new political party, declaring: “I’m keeping my options open.”
Mr Lowe answered a series of questions from Sky News after the latest twist in his feud with Nigel Farage, with a police investigation launched into claims he threatened party chairman Zia Yusuf.
Responding to the police statement, Mr Lowe said he had instructed lawyers, who had made contact with the Met and made them aware of his willingness to co-operate in any necessary investigation.
“My lawyers have not yet received any contact from the police,” he said.
“It is highly unusual for the police to disclose anything to the media at this stage of an investigation.
More on Nigel Farage
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“I remain unaware of the specific allegations, but in any event, I deny any wrongdoing. The allegations are entirely untrue.”
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1:25
Reform UK row explained
Could Lowe join Tories?
Later, Sky News asked the Great Yarmouth MP if he thought there was a way back into Reform UK for him or was this the end – and if he might join the Tories or a new political party.
“This has all happened over a few days,” Mr Lowe replied.
“I have been focused on debunking these false and damaging allegations. Who knows what will happen? I’m keeping my options open.”
In an interview on Monday, Mr Lowe said: “I was a Tory years ago. I think the Tories have got a lot of work to do. I think there’s some extremely good Tory MPs. I get on with a lot of them.”
For the Conservatives, the shadow home secretary Chris Philp said: “He hasn’t applied but obviously we’re a broad and welcoming political party.”
He told Times Radio: “People have been joining the Conservatives from across the political spectrum and we always welcome new joiners.”
Image: Mr Lowe is a former chair of Southampton Football Club. File pic: PA
New splinter group?
And in a move seen as a hint of a new splinter group, another ousted Reform UK politician, former deputy leader Ben Habib, told The Daily Telegraph that Mr Lowe was a “good friend” and he was “constantly in touch with” him.
Sky News also asked Mr Lowe who he blamed for the party’s treatment of him, including throwing him out of the party after he criticised Mr Farage. Was Mr Farage or Mr Yusuf to blame?
“Honestly, all of them,” he said.
“This was a team effort to blacken my name. If it wasn’t for my presence on X, I would have been buried under the false allegations. For that, I have to thank Elon Musk.”
He was asked about Mr Farage quoting Labour minister Mike Kane claiming after a heated Commons clash with Mr Lowe in December: “The anger displayed towards me clearly showed a man not in charge of his own faculties.”
Image: Shadow home secretary Chris Philp said the door was open. Pic: Reuters
In a Sunday Telegraph article, Mr Farage added: “I never saw anything like it in the European Parliament in 2019 when I was the leader of the Brexit Party and Mr Lowe was an MEP colleague.”
In response, Mr Lowe told Sky News: “Reform sources have been briefing that I have dementia. This is the single most appalling thing I have ever seen in politics.
“Anyone who has known someone who has suffered so hideously from dementia will understand just how offensive it is. It shows the type of people we are dealing with.”
In the same article, Mr Farage claimed there had been “too many similar outbursts from Mr Lowe, often involving the use of inappropriate language to the despair of our chief whip, Lee Anderson”.
Mr Lowe hit back, telling Sky News: “More baseless nonsense, spouted out to tarnish my reputation. Their malicious witch-hunt has fallen apart.”
Last year, when Mr Anderson was Conservative Party deputy chairman, he apologised after parliament’s watchdog on bullying and harassment found he told a security guard to “f*** off, everyone opens the door to me”.
He was found to have twice sworn at the security officer and acted in a way that “constituted bullying and also harassment” in breach of parliament’s behaviour policy, an independent expert panel concluded.