Is Alameda Research Behind Solana Blockchain?

Is Alameda Research Behind Solana Blockchain?

Alameda Research News: As the Solana ecosystem continues to face the failure due to the FTX links, more speculation is coming. Previously, Binance announced the removal of trading pairs for the Serum token, which is tied to a Solana partnership. After losing more than 50% in value after the FTX collapse, the Solana price shows little sign of recovery. With no end to R&D surrounding FTX and Alameda Research, the cryptocurrency could be up for further price drops.

Also Read: Popular Analyst Predicts Bitcoin (BTC) Price Risk Falling to $10,000

Solana Halt: Alameda Press?

In a recent one, crypto influencer BitBoy claimed that Alameda Research was holding transactions when the Solana blockchain was halted. He also warned in his last chirping says those who have positions in Solana should get rid of the assets. BitBoy said Alameda Research laundered money and pressured some transactions during the blockchain shutdowns. The Solana price dropped sharply thanks to FTX’s investment in the blockchain project. BitBoy said,

“Every time the Solana blockchain stopped… it was actually Alameda Research doing money laundering and forced transactions.

If you’re in Solana (SOL), run for the hills.”

Also Read: Ethereum Price Prediction: On Chain Calculations Point To Short Squeeze Soon

Meanwhile, Austin Federa, chief communications officer at Solana, denied this, saying that’s not how blockchains work. At the time of writing, Solana (SOL) price is at $14.46, up 0.86% in the last 24 hours, according to price tracking platform CoinMarketCap.

Network interruption

The Solana blockchain encountered network outages on several occasions in the past. Very recently, on 1 October 2022, SOL suffered a major network outage. The stop was due to misconfiguration in a single node. Before that, the Solana network had a power outage due to a problem with the support structure. These network outages involve the suspension of transactions for several hours.

See also  Blockchain 2023: What investors should expect from the decentralized technology

Also Read: Binance Chief Doubles Crypto Recovery Fund Target To $2 Billion

Anvesh reports on major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate for decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him at [email protected]

The content presented may include the author’s personal opinion and is subject to market conditions. Do market research before investing in cryptocurrencies. The author or publication has no responsibility for your personal financial loss.

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