Solana Ecosystem Details Associated To FTX Chapter
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>Solana Foundation had ~$1M in cash or cash equivalents on FTX.com as of 11/6/22 when FTX.com ceased to process withdrawals. This is less than 1% of Solana Foundation’s cash or cash equivalents. The impact on Solana Foundation operations is negligible.
The Solana Foundation had no SOL custodied on FTX.com
It’s been painful, but I still like Solana.
FTX screwed up the price, but the blockchain is still awesome.
I’m cautious on this one. SOL has lost its biggest backer.
probably great time to buy solana
No way, solana.com thinks solana is great. I am shook
1) What
Alameda held around 10% of SOL’s supply. I wonder what happened to that.
If SOL treasury in intact as shown in the link, SOL can survive the shock and might a golden opportunity to load some for 5X gain in the next bull cycle
3) COPE
Solana is only known because VC money pumped it to oblivion and its most notable feature is how often it goes down and then restarted by centralized control.
VC’s are out so should everyone else IMO.
I’m a bag holder and pretty disappointed at the fact that SOL performed worse than ICP lol
>During the events of the past week, the Solana network has not experienced any notable performance or uptime issues.
That’s funny because no other chain would have to state this as fact #1. Says a lot about Solana.
tldr; Solana Foundation had no SOL custodied on FTX.com as of 11/6/22 when FTX ceased to process withdrawals. The Solana network has not experienced any notable performance or uptime issues. Sollet-based assets on Solana in circulation are valued at approximately $40 million.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Lol “no uptime issues”
No they just had insiders selling their wrapped assets and VC money thus crashing it’s price.