Solana News: Grayscale Investments Launches Pyth Network Trust

Grayscale Investments has recently launched a new investment fund targeting PYTH tokens, named Pyth Trust, opening up growth opportunities for Pyth Network within Solana's decentralized finance ecosystem.

Grayscale Investments Launches Pyth Network Trust

Grayscale Investments has launched a new investment fund targeting PYTH tokens from the Pyth Network ecosystem, called the Pyth Trust. This fund allows qualified investors to gain access to the governance token powering the Pyth Network, which provides critical market data to 95% of decentralized apps on Solana. The announcement, made on February 18, opens up the growth potential of Pyth and its key position within Solana's decentralized finance ecosystem to investors.

Solana's Price Dip and Potential Comeback

Solana, one of the most reliable crypto projects, experienced a 6% price dip this week, sparking speculation about a potential comeback next week. The project's increasing presence in the NFT and DeFi spheres, along with continuous institutional backing, suggests a price rally could be on the horizon. Investors are also exploring opportunities in meme coins for potential big gains.

Meteora CEO Ben Chow Resigns Amid LIBRA Insider Trading Allegations

Ben Chow, the co-founder of Meteora, has resigned from his position at the Solana-based decentralized finance (DeFi) project due to a scandal involving LIBRA. The announcement was made by Meow, the pseudonymous founder of Solana decentralized exchange (DEX) Jupiter, on Monday. Chow's resignation comes as Meteora faces allegations of insider trading, although Meow has expressed confidence in Chow's character, citing a lack of judgement and care about core project aspects as reasons for his departure. The project leads have also stated their confidence that no financial wrongdoing or insider trading has occurred at Jupiter or Meteora.

Libra Memecoin Scandal Deepens as Hayden Davis Claims Influence Over Argentine President

Hayden Davis, a key player in the Solana-based Libra memecoin, has been accused of claiming influence over Argentine President Javier Milei through payments to his sister, Karina Milei. Davis allegedly boasted about controlling the country's leader by financially supporting Karina, who is a key figure in the president's administration. Leaked messages suggest that Davis claimed Milei would comply with his demands due to these payments, sparking a scandal surrounding the memecoin.