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Love stories often end badly… in general. Betrayals, tumultuous divorces, spectacular lawsuits: when you add a pinch of crypto into the mix, it quickly turns into a Shakespearean tragedy. This time, it’s Solana that serves as the backdrop to an explosive dispute. Stephen Akridge, co-founder of Solana, finds himself accused by his ex-wife, Elisa Rossi, of having embezzled her juicy staking gains.
A staking turned poison: the Akridge affair
The staking, for newcomers, is a bit like parking your car in a paid parking lot, except you get paid for it. SOL holders lock up their tokens to secure the Solana network, thus earning crypto rewards.
But for Elisa Rossi, these gains have mysteriously vanished.
According to her lawsuit filed in San Francisco, Stephen Akridge allegedly manipulated his accounts to siphon off millions of dollars in profits. A far-fetched scenario where blockchain expertise rhymes with domestic fraud. Although the exact amounts are obscured by partially redacted documents, Rossi speaks of amounts “significant”.
To better understand the stakes:
- Record price: SOL hit $265 in November;
- Valuation: market capitalization beyond $100 billion;
- TVL: $9.35 billion locked in DeFi;
- Trading volume: over $6 billion daily.
Akridge, now CEO of Cyber Grant Inc., did not deign to comment on this blockchain version of marital warfare.
Crypto SOL: resilience and controversies
This lawsuit comes at a pivotal moment for Solana. Since its launch in 2017, the blockchain has established itself as a serious alternative to Ethereum thanks to its Proof-of-History mechanism. Capable of processing 65,000 transactions per second, it has attracted the spotlight of the DeFi and NFT sectors.
However, its association with Sam Bankman-Fried and the collapse of FTX in 2022 has left scars. While the SOL price had dropped below $10, it miraculously rebounded. Today, despite regular outages and criticism regarding its reliability, Solana continues to seduce developers and investors.
As a legal expert interviewed by Law.com aptly pointed out: “This lawsuit could tarnish Akridge’s legacy as a builder of Solana.“
And while the altcoin still shines in the market, this case adds a shadow to the picture.
Nevertheless, Solana can still prove its ability to face challenges, whether it involves beating Bitcoin and Ethereum or surviving personal scandals. Despite the controversies, the altcoin firmly holds its place in the crypto landscape.
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La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
