Since it became clear that FTX and Alameda were struggling, the price of SOL has dropped over 50%, far greater than other network tokens.
Solana is down by 50% since Saturday and one million Solana tokens look set to be unstaked and dumped on the market any moment now.
On-chain researchers suggest FTX may be pulling assets from Solana’s Wormhole protocol to make sure it can cover liquidity needs.
Last night’s Aptos token launch went exactly as expected, collapsing almost 50% from its listing price in just a few hours.
The attacks began on August 1 and have so far drained millions from Phantom, TrustWallet, Solflare, and Slope wallets.
- The curious case of FTX and Farmington State Bank, aka Moonstone
- Grayscale Bitcoin Trust and its ties to crypto meltdowns
- Pressured bitcoin miners can’t sell the dip fast enough
- Helium founder races cars while the crypto startup is on collision course
- A look at Jump Crypto and its shady past
- We watched every SBF interview so you don’t have to
- Jump Crypto ties to FTX and Solana put Robinhood users at risk
- Political donations won’t save Bankman-Fried from investigation
- Can FTX tokenize its own bankruptcy?