According to Coingrams, FTX owner Sam Bankman-Fried told investors about the virtual bankruptcy of the exchange and related companies (according to other information, he spoke only of the probability of bankruptcy). At the time of writing, the information is not officially confirmed, but when it appears, the cryptocurrency market is waiting for the next wave of panic sales, which may particularly affect the crypto projects, which are financially dependent on FTX. The presence of a large number of $SOL in the portfolio of Alameda Research has already become a problem for Solana, which lost 40% of its capitalization in the last two days.
Solana is doing badly right now. But the outlook ahead is even worse. Here are the main risk factors for SOL’s impending decline that are important for any investor in this asset to know.
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Now Solana is only going to unlock half of those funds to relieve pressure on the market. This, in turn, is causing even more anger on the part of users who see this as a hitch to keep the market at their expense.
@Genesis14174555 writes:
Wait can i translate this as “We are freezing your funds so you, the 50%, cant dump the coins and crash the price further and the chosen 50% can take their exit first” ??
@nonsensesense2 writes :
T-fuck! You can not do this on a blockchain! Oh wait, Solana proving once again that they control the keys. They are centralised.
USDT/USDC on other chains operate normally of course. FTX was an important bridge/venue for SOL-based stablecoins, we do not want any additional risk to our users coming from this area, hence disabling it.
The BitDAO project was also the focus of investor attention, dropping the value of the BIT token by 30%. The developers of the ecosystem discovered an attempt to redeem FTT tokens for 100 million BIT on the market. According to their version, only Alameda Research could conduct such a deal. The company owns a stake in BitDAO, which should be frozen for 3 years. The crisis probably forced Alameda to break that commitment.
The Aptos blockchain token, aka $APT, whose patronage was taken over in part by FTX, supposedly flew down as soon as its sponsor started having problems.
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