OKX-Facilitated MET Airdrop Sparks Controversy Over Insider Distribution and Regulatory Scrutiny

The cryptocurrency community is embroiled in controversy following revelations about the MET token airdrop distribution through OKX exchange. Hayden Davis, founder of Kelsier Ventures and prominent figure behind the MELANIA meme coin, has been identified as a major recipient, allegedly acquiring $1.5 million worth of tokens before the public distribution. This development has triggered widespread criticism across social media platforms, with users questioning the fairness and transparency of the allocation process. The situation has drawn attention to potential insider advantages in cryptocurrency airdrops, particularly those facilitated through major exchanges like OKX. Meteora co-lead Soju attempted to address growing concerns by referencing the upcoming LIBRA launch, though this has done little to quell the mounting skepticism. As of October 2025, the controversy highlights ongoing challenges in the cryptocurrency space regarding equitable distribution mechanisms and the role of exchanges in token launches. The incident raises important questions about regulatory oversight and the need for clearer guidelines governing token distributions through centralized exchanges, potentially impacting future airdrop strategies and exchange protocols across the digital asset ecosystem.

MET Airdrop Controversy Erupts Over Insider Beneficiaries and Legal Scrutiny

The MET token airdrop faced immediate backlash after Hayden Davis, founder of Kelsier Ventures and key figure behind the MELANIA meme coin, was revealed as a recipient. Critics on social media questioned the allocation, with one user noting Davis allegedly received $1.5 million worth of tokens before funds were dispersed via OKX exchange.

Meteora co-lead Soju attempted to preempt concerns, stating LIBRA launch wallets were excluded from rewards and claiming partnerships with Dethective and Rugcheck to prevent malicious actors from benefiting. The defense failed to quell outrage as the airdrop coincided with explosive court filings.

Investors allege Meteora co-founder Benjamin Chow and Davis orchestrated a 'scam coin' scheme involving 15 tokens including MELANIA, LIBRA, and ENRON. The lawsuit claims celebrity endorsement—specifically Melania Trump's association with the project—was used to evade scrutiny. While the former First Lady isn't named as a defendant, the allegations spotlight the risks of influencer-driven crypto launches.

Meteora's $4.2M Airdrop to Trump-Linked Addresses Follows Lawsuit Alleging Memecoin Fraud

Three blockchain addresses tied to the TRUMP token team received a $4.2 million airdrop of $MET tokens from Meteora, hours after the protocol's co-founder Benjamin Chow was sued for allegedly orchestrating pump-and-dump schemes. Arkham Intelligence identified the recipients as the TRUMP developer address and two early liquidity providers, all of which immediately moved the funds to OKX.

The airdrop coincides with a federal class-action lawsuit accusing Chow of leveraging endorsements from Melania Trump and Argentine President Javier Milei to defraud investors across multiple tokens, including $M3M3, $LIBRA, and $MELANIA. The complaint seeks disgorgement of profits and treble damages under RICO statutes.