Category Archives: Solana News

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…]

The links between Solana, FTX, and Alameda are made clear as SOL continues to fall in price, now down 57% over the past week. Most major cryptocurrencies are down significantly over the past week amid the destruction of popular exchange FTX, but Solana (SOL) has taken a tougher pounding than most, apparently exacerbated by ties to FTX and founder Sam[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…]

Despite the bloodshed in the cryptocurrency market caused by the liquidity crisis at FTX, some digital assets are starting to record modest gains, including Solana (SOL), leading analysts to try and predict its future price. One of them is a reputable pseudonymous crypto trading expert, maikisch, who observed the chart patterns of Solana and deduced that the decentralized finance (DeFi) asset “has been[Read more…]

Solana [SOL] had been mired in a number of controversies over the past few weeks, including FTX‘s collapse and the token unlock news. All of this news could have thus, contributed to the decline of the SOL token. Still, new data from Messari suggested that the Solana Non-Fungible Token (NFT) space might have been able to weather the storm. This was despite[Read more…]

With most eyeballs on FTX’s rapid meltdown last week, fears of a Crypto.com insolvency are swirling on the periphery. Some observers fear that Crypto.com or its Cronos (CRO) blockchain system could face similar struggles or financial shortfalls in the wake of the FTX collapse. The exchange spent exorbitant sums on marketing campaigns earlier this year,[Read more…]