Solana, popularly dubbed Ethereum’s killer, dipped rapidly following the FTX collapse. As per the market overview, SOL lost more points than every other asset class. Solana dipped Initially, Sam Bankman-Fried applauded the coin and its blockchain for its seamless efficacy. Furthermore, he asserted that Solana provided unquantifiable utility to its users. Hence, this quality made[Read more…]
Category Archives: Solana News
16
Nov
Nov
Solana emerged as the week’s worst-performing crypto asset as one of the project’s early backers FTX went insolvent. It’s been a choppy week for Solana. The 15th-largest cryptocurrency by market capitalization has lost 41.2% of its value over the past week, according to data from Coingecko. SOL, Solana’s native token, dropped from $20.16 on November 9 to[Read more…]
16
Nov
Nov
Investors in the investing app Robinhood fear that contagion from FTX could affect their trades being processed by Jump Crypto. The link between Robinhood, Jump, and FTX is direct: Sam Bankman-Fried (SBF) notably owned 7.6% of Robinhood’s stock and once claimed to be preparing a full acquisition offer for Robinhood. Institutional investors are selling first and asking[Read more…]
16
Nov
Nov
Bitcoin and Ether fell together with the majority of the top 10 cryptocurrencies by market capitalization on Wednesday morning, following reports that Russian missiles killed two people in Poland. According to Reuters, paramedics claimed that two individuals were killed in an eastern Polish village near the Ukrainian border. Other news reports disclose the casualties were caused by what[Read more…]
16
Nov
Nov
According to a new independent report, Luna Foundation Guard (LFG) transferred more than 52,000 bitcoin (BTC) from its reserves to Jump Trading as part of its efforts to defend the price of terraUSD (UST). However, observers have already started to point out that there are certain, crucial details missing. The report by third-party auditing firm, JS[Read more…]
16
Nov
Nov
The sudden decline of FTX has created a devastating effect on the entire Bitcoin and crypto market. Panic shorting of digital assets is the order of the day, with Solana taking a massive hit as many investors dumped the coin. FTT, the native crypto asset of FTX, has lost almost all its investor value. Most[Read more…]
16
Nov
Nov
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…]
15
Nov
Nov
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…]
15
Nov
Nov
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…]
15
Nov
Nov
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…]
