4 months ago 1 min read

Alameda Research Behind Solana Blockchain's Stalls?


More speculation is emerging as the Solana ecosystem continues to face criticism for its FTX links. Binance previously announced the removal of trading pairs for the Serum token, which is linked to a Solana partnership. After losing more than 50% of its value following the FTX collapse, the Solana price is showing no signs of recovery. With the FUD surrounding FTX and Alameda Research continuing, the cryptocurrency's price could fall further.

Solana Intersection: Alameda Tension?

BitBoy, a crypto influencer, recently claimed that Alameda Research held transactions when the Solana blockchain was shut down. In his most recent tweet, he also warned those with positions in Solana to sell their assets. According to BitBoy, Alameda Research laundered money and pressured with some transactions during the blockchain outages. Because of FTX's investment in the blockchain project, the price of Solana has plummeted dramatically. BitBoy stated:

“Every time the Solana blockchain paused… it was actually Alameda Research laundering money and brute forcing transactions. If you are in Solana (SOL), run for hills.”

Meanwhile, Austin Federa, Solana's head of communications, denied it, claiming that blockchains do not work that way. Solana (SOL) is currently trading at $14.46, up 0.86% in the last 24 hours, according to price tracking platform CoinMarketCap.

Outages in the Network

The Solana blockchain has previously experienced network outages. SOL recently experienced a major network outage on October 1, 2022. The halt was caused by a single node's misconfiguration. Previously, the Solana network experienced an outage due to a problem with the support structure. Transactions are halted for several hours during these network outages.

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