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Solana (SOL) Labs Didn’t Have Any Assets on FTX, Says Co-Founder

The market remains concerned that Alameda Research might sell Solana (SOL) and other tokens from the Solana ecosystem to cover unpaid debts.
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Solana (SOL) Labs Didn’t Have Any Assets on FTX, Says Co-Founder

Solana’s co-founder, Anatoly Yakovenko stated on Twitter that, the company still has a lot of runways and is fortunate to have a small workforce because Solana Labs, a US corporation, didn’t have any assets on FTX.com.

But the market remains concerned that Alameda Research may sell huge SOL and other tokens in the Solana ecosystem.

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Solana’s Connection to FTX Saga

There might be a chance that, Alameda liquidates its SOL holdings to raise more funds due to FTX’s impending debts.

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Price Shows No Sign Of Recovery

On the other side, the Solana (SOL) price has been severely affected by the FTX situation as Alamada Research is invested in the blockchain project.

Over the last few days, the Solana price fell nearly 52%. As of writing, Solana’s (SOL) price stands at $14.93, down around 42% in the last 24 hours.

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Pratik Bhuyan

Pratik has been a crypto evangelist since 2016 & been through almost all that crypto has to offer. Be it the ICO boom, bear markets of 2018, Bitcoin halving to till now - he has seen it all.

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