Solana Foundation Is Accused Of “Blackmail” Project $5 Million To Stay In This Ecosystem?
Solana foundation is still struggling due to the collapse of FTX, the situation becomes more complicated when it is reported that it is blackmailing a project of $5 million to continue to stay on this ecosystem.
Today the crypto community is buzzing with rumors raised by the account “@functi0nZer0” that the Solana Foundation is “blackmailing” a project by $5 million so it can stay on its ecosystem.
Solana is in a serious crisis since the collapse of FTX. Despite the constant reassurance of the Solana founders, the fork of Serum (SRM) after the hack as well as the “confession” from Oxygen (OXY) and Maps.me (MAPS) nor can disaster save the $700 million that was wiped out of the Solana ecosystem in just one week.
Since then, a series of exchanges quickly made the decision to suspend USDC and USDT deposits and withdrawals on the Solana network, the event that contributed to the 1 billion USDT transfer from Solana to Ethereum.
Rumors quickly spread and the unnamed project was rumored to be DeGods, the largest NFT project on Solana to date. There’s a reason why all eyes are on DeGods. Because of the great position they have on the ecosystem, only DeGods has the courage to make such a direct “threat” to the Solana Foundation.
However, this is also a point of contradiction when both DeGods and y00ts (both developed by Dust Labs) account for nearly 70% of NFT trading volume on Solana. This means it would be a disaster for NFT Solana if the ecosystem lost all of the Dust Labs collections.
Actual data shows that the above claim is completely correct as the total NFT Solana trading volume is currently at 737,142, while y00ts and DeGods have accounted for 237,440 and 232,900 respectively.
In addition, many users argued that since FTX Ventures and Solana Ventures were investors in Dust Labs’ $7 million seed round, after FTX went bust, other VCs (investment funds) came in. This round has lost a lot, so they are creating an excuse for Dust Labs to put pressure on Solana Foundation, decide to migrate DeGods to Ethereum and somewhat “save” their investment.
On the other hand, a part believes that the person behind this incident is none other than former FTX CEO Sam Bankman-Fried. Because the capital was only $ 100,000 of assets as he announced last week, Sam Bankman-Fried “ripped” DeGods to extract Solana Foundation under the name of FTX Ventures.
All the information shared above is just speculation and discussion of the community and there is no real evidence as well as official stakeholders.
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.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Foxy
Coincu News
Author
News
Solana Foundation Is Accused Of “Blackmail” Project $5 Million To Stay In This Ecosystem?
Solana foundation is still struggling due to the collapse of FTX, the situation becomes more complicated when it is reported that it is blackmailing a project of $5 million to continue to stay on this ecosystem.
Today the crypto community is buzzing with rumors raised by the account “@functi0nZer0” that the Solana Foundation is “blackmailing” a project by $5 million so it can stay on its ecosystem.
Solana is in a serious crisis since the collapse of FTX. Despite the constant reassurance of the Solana founders, the fork of Serum (SRM) after the hack as well as the “confession” from Oxygen (OXY) and Maps.me (MAPS) nor can disaster save the $700 million that was wiped out of the Solana ecosystem in just one week.
Since then, a series of exchanges quickly made the decision to suspend USDC and USDT deposits and withdrawals on the Solana network, the event that contributed to the 1 billion USDT transfer from Solana to Ethereum.
Rumors quickly spread and the unnamed project was rumored to be DeGods, the largest NFT project on Solana to date. There’s a reason why all eyes are on DeGods. Because of the great position they have on the ecosystem, only DeGods has the courage to make such a direct “threat” to the Solana Foundation.
However, this is also a point of contradiction when both DeGods and y00ts (both developed by Dust Labs) account for nearly 70% of NFT trading volume on Solana. This means it would be a disaster for NFT Solana if the ecosystem lost all of the Dust Labs collections.
Actual data shows that the above claim is completely correct as the total NFT Solana trading volume is currently at 737,142, while y00ts and DeGods have accounted for 237,440 and 232,900 respectively.
In addition, many users argued that since FTX Ventures and Solana Ventures were investors in Dust Labs’ $7 million seed round, after FTX went bust, other VCs (investment funds) came in. This round has lost a lot, so they are creating an excuse for Dust Labs to put pressure on Solana Foundation, decide to migrate DeGods to Ethereum and somewhat “save” their investment.
On the other hand, a part believes that the person behind this incident is none other than former FTX CEO Sam Bankman-Fried. Because the capital was only $ 100,000 of assets as he announced last week, Sam Bankman-Fried “ripped” DeGods to extract Solana Foundation under the name of FTX Ventures.
All the information shared above is just speculation and discussion of the community and there is no real evidence as well as official stakeholders.
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.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Foxy
Coincu News
Other Posts
Related Posts
Latest
Why Qubetics, NEAR Protocol, and IMX Are Dominating Crypto: The Best Altcoins to Join Today for Game-Changing Returns
Bonk’s ICO Was Just the Start: Why BTFD Coin’s Stage 7 Price Rollback Is Your Second Shot at Crypto Glory
Decoding BDAG’s AMA: A Blueprint for Scalable Blockchain and Enhanced Community Ties
Press Release
Why Qubetics, NEAR Protocol, and IMX Are Dominating Crypto: The Best Altcoins to Join Today for Game-Changing Returns
Bonk’s ICO Was Just the Start: Why BTFD Coin’s Stage 7 Price Rollback Is Your Second Shot at Crypto Glory
