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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Solana co-founder Raj GokalCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Raj Gokal of Solana discusses the latest at the Solana Foundation, and what's ahead for the platform.
Persons: Raj Gokal, explainers, Solana Organizations: Solana, Raj Gokal CNBC, Solana Foundation
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRobinhood reports 18% drop in crypto transaction revenue in Q2: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Raj Gokal of Solana discusses the latest at the Solana Foundation, and what's ahead for the platform.
Persons: explainers, Raj Gokal, Solana Organizations: CNBC Crypto, CNBC, Solana Foundation
Sam Bankman-Fried was a big supporter of Solana, the layer-1 blockchain that bills itself as a faster alternative to Ethereum's network. He backed projects on its ecosystem, and his firms amassed huge sums of the blockchain's native token, also called Solana (SOL). The disgraced former crypto mogul backed projects in its ecosystem, and his firms amassed huge sums of the blockchain's native token, also called Solana (SOL). Meanwhile, Bankman-Fried's hedge fund Alameda Research and crypto exchange FTX purchased large sums of SOL tokens from the Solana Foundation, the nonprofit that supports the blockchain, and Solana Labs, the blockchain's developer. That's despite the fact that around 80% of projects on Solana's blockchain had zero exposure to FTX, Yakovenko told Bloomberg.
Nov 15 (Reuters) - Solana, a poster coin of the crypto future, is in trouble. "In the current crypto shakeout, the most unfortunate innocent victim is the Solana ecosystem," said Stefan Rust, CEO of blockchain wallet company Laguna Labs. Solana co-founder Anatoly Yakovenko tweeted that development company Solana Labs didn't hold any assets on FTX and had enough financial runway for around 30 months. Ether's market cap has fallen 21% to $150.7 billion, while bitcoin's has fallen 18% to $319 billion. The collapse of the company has seen more than $190 billion wiped from the value of the overall crypto market.
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