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Solana Founders Reassured Investors In The Face Of The Crisis Of FTX

The market is suffering heavily with the collapse of Sam Bankman-Fried’s empire. Solana (SOL) and FTT are the two tokens that have witnessed the strongest drop in recent times. To salvage investor confidence to help the project recover somewhat, the founders of the blockchain “Ethereum killer” spoke up.

Solana Founders Reassured Investors In The Face Of The Crisis Of FTX 3

On November 9, founder Anatoly Yakovenko spoke on his personal Twitter:

Solana Labs COO Raj Gokal described the FTX failure as a pivotal moment for the ecosystem, as a critical challenge that Solana needed to overcome.

Raj also emphasized that the team has more human strength to go together, the number will be 10 times.

According to the latest update, despite receiving a reassuring signal from the founders, investors should also be careful with SOL when a large number of tokens are unstake today. At the time of writing, SOL is trading at $14.24.

SOL daily chart. Source: Coincu

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.