The Solana Foundation has tens of millions of dollars in cryptocurrencies stranded on FTX – as well as 3.24 million common stock shares in the bankrupt crypto exchange. realDannyNelson reports
on the price of SOL, which is down 57% in a week. But FTX’s role in managing infrastructure critical to Solana DeFi has caused a crisis for individual protocols, too.
The Solana Foundation itself appears to have avoided the worst of the crisis. It held less than $1 million of its balance sheet on FTX when withdrawals ceased. “The impact on Solana Foundation operations is negligible,” the blog post said. It lost no SOL to FTX.Divisions in Sam Bankman-Fried’s Crypto Empire Blur on His Trading Titan Alameda’s Balance Sheet
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