Category Archives: Solana News

The Solana (SOL) ecosystem, according to Laguna Labs Chief Executive Officer (CEO) Stefan Rust, took a harder hit compared to other major digital coins such as Bitcoin and Ethereum following the collapse of the FTX crypto exchange. Here’s a quick glance at SOL performance: Following the collapse of FTX, Solana lost almost 60% of its market value[Read more…]

Digital asset information platform The Tie has compiled many of the tweets Sam Bankman-Fried has deleted in the past year. It showcases how tons of people are scrambling to sever ties with Bankman-Fried and FTX — and more importantly, gives insight into which of his own posts he doesn’t want you to see. The Tie shared a[Read more…]

DeFi prime brokerage Oxygen said FTX acted as the custodian for the majority of the tokens on its ecosystems, adding that it has sought legal help. “Whilst FTX Group did not hold any equity in the MAPS or Oxygen businesses, it did hold a significant proportion of MAPS/OXY tokens,” Oxygen said in a Twitter thread. “It[Read more…]

The crypto industry is witnessing another crisis with the distress of one of the top crypto exchanges in the space, FTX. More firms with exposure and collaborations with the exchange have started experiencing some constraints in their various activities. Following the fall of FTX, the founder and CEO of the company, Sam Bankman-Fried (SBF), has[Read more…]

Solana has been one of the largest market-cap assets that are not a stablecoin in the crypto ecosystem for quite a while now. Its recent drop from $37 has wiped out nearly 60% of its value in the market, in the aftermath of the FTX collapse. A recent article highlighted how a bounce could occur at the $13.5 region. In recent[Read more…]

The total value locked (TVL) in Solana (SOL) network’s decentralized finance (DeFi) ecosystem stood at $330 million as of Nov. 14 — signifying a drop of 96.75% from a peak of  $10.17 billion in December 2021, according to DeFiLlama data. TVL  in Solana DeFi progressively fell throughout 2022, driven by SOL’s dropping value and the larger[Read more…]

Ever since the FTX saga began, rumors have been rife around Solana. This was due to the fact that Solana’s early investors included Alameda, FTX’s investment arm. Anatoly Yakovenko, the Solana co-founder, tweeted briefly to indicate that they were not exposed. However, the tweet did more harm than good by creating more questions than it answered. However, in[Read more…]

After FTX announced decision to opt for chapter 11 bankruptcy, a top tier crypto exchange announced it halted withdrawals and deposits. After FTX announced decision to opt for chapter 11 bankruptcy, a top tier crypto exchange announced it halted withdrawals and deposits. The meltdown of Sam Bankman-Fried related crypto companies has already had a negative ripple on[Read more…]

China-based crypto venture firm Sino Global Capital has broken its silence about the extent of its exposure to FTX. The company said its direct exposure to FTX, the exchange, “was confined to mid-seven figures held in custody,” in a letter published on Twitter on Nov. 15. It did not specify an exact sum. The letter added that[Read more…]

Solana (SOL) Foundation revealed that it held roughly $1 million worth of cash or its equivalent -less than 1% of its assets- on bankrupt crypto exchange FTX as of Nov. 6, according to a Nov. 14 blog post. According to the Foundation, it also had 3.43 million FTX tokens (FTT) and 134.54 million Serum (SRM) tokens[Read more…]