Let me give you a tldr on whatโs happened.
Meteora and Jupiter were sniping coin launches from inside tradors with the most advanced tech on solana/crypto (private tech)
Such as trump, Melania, Libra
They were sniping $5m at a time 0 block launches.
Libra dev Jaydens team, saw this with old coin launches, so tried sniping their own supply for Libra but was still outdone and out sniped
He tried scaring them and making them sell their stack by removing some liquidity in Libra but fucked it up, and price cascade + Javier freaking out occurred.