Solana (SOL) was one of the hardest hit blockchains by the FTX collapse. Even now, more than a week after the initial bankruptcy, SOL continues to buckle under the weight of uncertainty left among its users and investors given Sam Bankman-Fried’s (SBF) heavy involvement in the Solana blockchain. Will SOL continue to suffer or is[Read more…]
Category Archives: Solana News
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Nov
Nov
While it had no financial exposure to the fallen exchange, Metaplex appears to be suffering from reputational damage spreading to Solana. Solana NFT protocol maker Metaplex announced on Thursday that it has undergone a company-wide round of layoffs, as the contagion induced by crypto exchange FTX’s collapse last week continues to spread across the Web3 ecosystem. [Read more…]
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Nov
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Post the FTX drama, Solana’s [SOL] association with Sam-Bankman Fried propelled the altcoin to lose over 60% of its value in a matter of few days. Consequently, SOL slipped below the vital $27-$30 range to enter a relatively low liquidity zone. SOL’s funding rates depicted a slight ease in the heightened selling pressure over the last few[Read more…]
18
Nov
Nov
Crypto venture firm Multicoin Capital is looking to write off all of its assets currently on FTX due to the bankruptcy proceedings. The FTX contagion is spreading wide and fast! On Thursday, November 17, crypto venture giant Multicoin Capital told its investors that the FTX collapse has pushed the fund down by a staggering 55% over the[Read more…]
17
Nov
Nov
Binance has temporarily suspended deposits of tether (USDT-USD) and USD Coin (USDC-USD) stablecoins on the solana (SOL-USD) blockchain, the cryptocurrency exchange said Thursday in a blog post. It didn’t specify the reasons behind the sudden move, though it’s important to note that solana (SOL-USD) has a close connection with collapsed crypto exchange FTX. SOL tokens have dropped[Read more…]
17
Nov
Nov
Earlier Binance halted USDC and USDT deposits on Solana but as per a recent announcement, it has resumed deposits for the USDT (SOL) token. On Thursday morning, the world’s biggest exchange, Binance, announced that deposits of USD Coin (USDC) and Tether (USDT) on the Solana blockchain “have been temporarily suspended until further notice,” causing the SOL token[Read more…]
17
Nov
Nov
It’s been an exhausting week for every person even remotely involved with the cryptocurrency industry. The collapse of FTX and Alameda Research has brought with it what would normally be written off as “FUD,” or fear, uncertainty, and doubt. For the first time, it’s accepted as possibly worth listening to. Exchanges are scrambling to show[Read more…]
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Nov
Nov
Over the years, Jump Crypto, the crypto-specific arm of Chicago-headquartered trading firm Jump Trading, has worked alongside some of the most prominent firms and individuals in the crypto space. However, it’s also been embroiled in its fair share number of high-profile controversies. Jump’s ties to FTX Jump and FTX go way back and the relationship[Read more…]
17
Nov
Nov
Binance and other top crypto exchanges halted stablecoin deposits from the Solana (SOL) blockchain. The companies released an official statement claiming that the measure will be temporary, but it could have harmful implications for the SOL ecosystem. Solana (SOL) trades at $13.5, with a 5% loss in the last 24 hours and a 3% loss in the[Read more…]
17
Nov
Nov
Besides the Ethereum network, users can now deposit and withdraw USD Coin on Solana and Tron, according to a Twitter post by Bill King, Growth Marketing Lead. The support for these two networks is already live. Users can easily transfer funds to their account by navigating the Funding drop-down box and selecting the network and USDC they[Read more…]
