Jupiter, a Solana-based decentralized exchange aggregator, has ignited controversy after announcing a collaboration with Irene Zhao, a Singaporean influencer with a history of dubious crypto activities. The announcement, made on July 22 by Jupiter’s anonymous founder @weremeow, aims to improve the “meme coin meta” and support traders during difficult times.
This initiative seeks to address issues like fake wide distribution and influencer deception in meme coin launches. However, the crypto community reacted fiercely, accusing Jupiter of endorsing Zhao’s shady past actions, including opaque dealings in her project So-Col, which misled early investors.
Previously, Zhao gained fame by selling NFT photos, earning over $5 million, and launching IreneDAO, which saw an initial surge but later plummeted in value. Despite the backlash, this collaboration could set a precedent for addressing transparency issues in the meme coin market, potentially serving as a model for future projects.
