Solana Co-Founder Proposes FTX Distribute SOL Holdings to Clients
According to Solscan data, confirms that FTX cold wallets began transferring their SOL yesterday. Multiple FTX cold wallets collectively hold nearly 7 million SOL (valued at approximately $134 million). Solana co-founder Anatoly Yakovenko tweeted that he would prefer to distribute SOL to former FTX customers.
FTX's Huge Solana Holdings May Be Dumped by New Management, Solana Co-Founder Suggests "Win-Win" Solution
Collapsed crypto exchange FTX may be planning to sell its nearly 7 million SOL holdings, worth about $134 million, according to movement of tokens from wallets. Solana co-founder Anatoly Yakovenko has suggested a "win-win" solution of distributing the SOL to ex-FTX customers, allowing them to sell their share at a Dutch auction or bid into the auction with priority over external bids. This would benefit the network over the long term and probably have the best outcome for the whole user base, he said. <br>
Automation network Clockwork shuts down development citing limited commercial upside and opportunity costs
Solana-based projects Clockwork, an automation network for smart contracts, has announced that it will stop development due to "opportunity costs" and "limited commercial upside". Founder Nick Garfield stated that the team will be switching off their nodes on both devnet and mainnet from October 31. T
Clockwork, the Solana Ecological Automation Network, Announced That It Will Stop Development and Will Shut Down Devnet and Mainnet Nodes on October 31
According to a message from Solana's decentralized automation network Clockwork's former employee Nick, published on the Deep Tide TechFlow platform, the Clockwork development team and Nick himself have decided to stop developing the protocol due to limited business prospects and opportunity costs. Developers can continue to use the software they have written, but the team will shut down nodes on Devnet and the main network on October 31.
Crypto Market Experiences Bearish Trend with Bitcoin and Altcoins Trading in Red, Fear and Greed Index Corrects Slightly
Today, the crypto market is mostly bearish with Bitcoin and major altcoins trading in the red. The fear and greed index has corrected slightly but remains in the fear zone with a score of 35/100. Bitcoin's price is still below $30,000 at $25,997.91, while Cardano and Solana experienced gains.
Solana Sees Price Uptick Due to Adoption Developments While XRP Bounces Back Amidst SEC Trial Delay
Solana's smart contracts token has bounced back and is trading at $21.74 with a trading volume of $412 million, possibly due to Solana Pay's adoption developments. The overall crypto market is trending upwards, with Bitcoin reclaiming $26,000. Solana is expected to make a significant recovery, with bulls aiming to push the price towards the psychological resistance of $30 to $32.
Cypher Protocol: $600,000 in Stolen Funds Now Frozen on CEX
Cypher Protocol, a decentralized futures exchange based on Solana, successfully froze $600,000 worth of stolen cryptocurrency from the August 7th security breach. Cypher Protocol reported on Twitter on August 18th that with the help of several independent blockchain investigators, over half of the stolen funds had been successfully frozen on centralized exchanges. The return of these funds will depend on the cooperation of these centralized exchanges and the issuance of seizure orders by law enforcement agencies.
Solana Co-Founder Believes Most Layer-2 Chains Won't Serve as Sustainable Scaling Solutions in the Long Term
Solana co-founder Anatoly Yakovenko believes that the increasing number of layer-2 solutions, primarily on Ethereum, won't serve as sustainable scaling solutions in the long term. Fragmentation of the user base causes UX to become very complicated, leading to massive composability and user experience problems. <br>
Solend: All Funds Removed in USDH Price Manipulation Bug Returned
Solend, a lending protocol on Solana, announced that all stolen funds from a price manipulation attack in November 2022 have been fully returned.Approximately $1.26 million worth of assets were stolen, and the hacker returned nearly $900,000 after the price changed.
Former Goldman Sachs Executive: Solana Is Like Ethereum in 2018, Has the Potential To Perform Well
Former Goldman Sachs executive Raoul Pal said that Solana (SOL) is like Ethereum during the bear market of 2018 and 2019.
Pal said in an interview that SOL is his second largest cryptocurrency investment portfolio allocation and believes that it is likely to repeat the dramatic recovery from the bear market to new highs that Ethereum experienced a few years ago.
