The post Meteora Founder Accused in Melania, Milei Meme Coin Fraud appeared on BitcoinEthereumNews.com. A newly filed US class action lawsuit accuses Meteora founder Benjamin Chow of orchestrating the infamous Libra and Melania meme coin schemes. The filing argues that the meme coin fraud allegedly used First Lady Melania Trump and Argentine President Javier Milei as promotional “props.” Sponsored Sponsored Plaintiffs Blame Meteora Founder for Melania, Libra Coin Collapse According to the amended filing in Hurlock v. Kelsier Ventures, investors claim Meteora and Kelsier Ventures “borrowed credibility” from public figures to legitimize the MELANIA and LIBRA tokens, calling them a coordinated “liquidity trap.” Both coins surged after launch but later plunged by over 90%. “Defendants borrowed credibility from real-world figures or themes—such as the ‘official Melania Trump’ coin ($MELANIA) and the ‘Argentine revival’ coin ($LIBRA) tied to President Javier Milei. These faces and brands served as props to legitimize what was actually a coordinated liquidity trap. Plaintiffs do not claim those public figures were culpable; they were merely the window dressing for a crime engineered by Meteora and Kelsier,” the filing said. In Argentina, the LIBRA scandal has widened into a criminal probe targeting two of Milei’s aides after wallet data linked them to pre-launch transfers. Over 1,300 citizens reportedly lost funds, contradicting Milei’s televised claim that “no more than five” investors were affected. Melania Trump recently revived her Solana-based meme coin through an AI-generated video. Prices briefly rose before falling again. Analysts flagged $30 million in unexplained token sales from team wallets, raising transparency concerns. Sponsored Sponsored Defense, Regulation, and Market Context Chow, who resigned in February, previously denied wrongdoing on X. He said neither he nor Meteora received tokens or insider information. Chow described the “Dynamic Liquidity Market Maker” as a permissionless tool supporting independent launches rather than a trading entity. There have been questions regarding Meteora and my involvement in $LIBRA,… The post Meteora Founder Accused in Melania, Milei Meme Coin Fraud appeared on BitcoinEthereumNews.com. A newly filed US class action lawsuit accuses Meteora founder Benjamin Chow of orchestrating the infamous Libra and Melania meme coin schemes. The filing argues that the meme coin fraud allegedly used First Lady Melania Trump and Argentine President Javier Milei as promotional “props.” Sponsored Sponsored Plaintiffs Blame Meteora Founder for Melania, Libra Coin Collapse According to the amended filing in Hurlock v. Kelsier Ventures, investors claim Meteora and Kelsier Ventures “borrowed credibility” from public figures to legitimize the MELANIA and LIBRA tokens, calling them a coordinated “liquidity trap.” Both coins surged after launch but later plunged by over 90%. “Defendants borrowed credibility from real-world figures or themes—such as the ‘official Melania Trump’ coin ($MELANIA) and the ‘Argentine revival’ coin ($LIBRA) tied to President Javier Milei. These faces and brands served as props to legitimize what was actually a coordinated liquidity trap. Plaintiffs do not claim those public figures were culpable; they were merely the window dressing for a crime engineered by Meteora and Kelsier,” the filing said. In Argentina, the LIBRA scandal has widened into a criminal probe targeting two of Milei’s aides after wallet data linked them to pre-launch transfers. Over 1,300 citizens reportedly lost funds, contradicting Milei’s televised claim that “no more than five” investors were affected. Melania Trump recently revived her Solana-based meme coin through an AI-generated video. Prices briefly rose before falling again. Analysts flagged $30 million in unexplained token sales from team wallets, raising transparency concerns. Sponsored Sponsored Defense, Regulation, and Market Context Chow, who resigned in February, previously denied wrongdoing on X. He said neither he nor Meteora received tokens or insider information. Chow described the “Dynamic Liquidity Market Maker” as a permissionless tool supporting independent launches rather than a trading entity. There have been questions regarding Meteora and my involvement in $LIBRA,…

        Highlights:  The BNB price is down 2% to $1111.46, despite the trading volume spiking 26%. The BNB on-chain demand has slipped, with the open interest plummeting 3% showing a drop in demand.  The technical outlook shows a tight tug-of-war, with the bulls attempting to overcome resistance zones.   The BNB price is down 2% today, to trade at $1111.46. Despite the plunge, the daily trading volume has soared 26% showing increased market activity among traders. However, BNB Chain has seen declining network activity, with the open interest plummeting, signaling a drop in demand.  On Chain Demand on BNB Cools Off The BNB Chain is in a state of cooldown of network activity, which indicates low on-chain demand. In most instances, when a network fails to ensure large volumes or revenues, it means that there is low demand or outflows to other networks.  BNB DeFi Data: DeFiLlama According to DeFiLlama data, the volume of the Decentralized Exchanges (DEXs) is down to at least $2.12 billion in comparison to the high of $6.313 billion on October 8, which also means low on-chain liquidity.  On the other hand, Coinglass data shows that the volume of BNB has grown by 3.97% to reach $4.95 billion. However, the open interest in BNB futures has dropped by 3.36% to reach $1.74 billion. This reduction in open interest is an indication of a conservative stance by investors since the number of new positions being opened is low. This could be an indication that investors are not so sure about the short-term price outlook. BNB Derivatives Data: CoinGlass Meanwhile, the long-to-short ratio is sitting at 0.9091. This shows that the traders are undecided on BNB price’s next move, as it sits below 1.  BNB Price Moves Into Consolidation The chart displays the BNB/USD price action on a 4-hour timeframe, with the token currently hovering around $1111.46. The 50-day Simple Moving Average (SMA) is at $1113, while the 200-day SMA sits at $1129, cushioning the bulls against upside movement. The price has mostly been trending below both SMAs, indicating that the bears are having the upper hand.  The BNB trading volume is up, soaring 26%, signaling the momentum is real. On the 4-hour chart, BNB is trading within a consolidation channel. In such a case, this pattern may act as an accumulation period, giving the bulls hind wings to break above resistance zones.  BNB/USD 4-hour chart: TradingView Zooming in, the Relative Strength Index (RSI) sits at 44.15, below the 50 level. This shows weakening momentum in the BNB market, and might lead to the RSI plunging to the oversold region if the bulls don’t regain control. In the short term, the BNB price could move up to $1113 resistance and flip it into support. A close above this zone will see the bulls target $1126 resistance, giving the bulls strength to reclaim the $1230 mark.  Conversely, if the resistance zones prove too strong, a dip towards $1012 could be plausible. In such a case, this could be a prime buy zone for the risk-takers. In the long term, if the token keeps the hype alive, the bulls may reclaim the $1375 high or higher.    eToro Platform    Best Crypto Exchange   Over 90 top cryptos to trade Regulated by top-tier entities User-friendly trading app 30+ million users    9.9   Visit eToro eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.