BTC PULSE
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
Play Now
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Altcoins

Solana Is Healthier without Ex-FTX Boss

by Chiwuike Owunwa
Dec 2, 2022 - 12:00 am
in Altcoins
Solana Is Healthier without Ex-FTX Boss

On the 30th of November 2022, Chris Burniske, the cofounder of Placeholder, tweeted his support for Solana, saying that the project was better off without Sam Bankman–fried or Alameda.

Strongly believe @solana is healthier w/o SBF. With his following, he was part of raising it to relevance, but Alameda became a tumor of community extraction, which would have hampered network growth had it continued. Now the tumor has been extracted, allowing accelerated healing https://t.co/nJTuiYyIFh

— Chris Burniske (@cburniske) November 30, 2022

Following the crash of FTX and Alameda, the crypto space has been healing, attempting to get back on its feet. And the same can be said for the Solana network.

Back in the day, SBF was part of why Solana grew to the level it did. But his company, Alameda, was a tumor in the industry. One that has just recently been removed. In as much as it has left a massive hole after the FTX crash, it’s better for the industry it occurred now than when it was allowed to grow even further.

And with the amount of effort put in by Solana developers, it’s sensible to expect an accelerated healing process.

He then compared the comradery of the Solana contributors, post-FTX, to that of the Ethereum contributors in the TheDao 2016 hack, which still remains one of the most significant hacks in the industry.

The summary of the 2016 ethereum hack is thus. A hacker found a fault within the code of a decentralized fund known as TheDAO. The project held 5% of the total ETH supply valued at hundreds of millions, and the hacker stole 31% of that amount. Due to the enormous theft, Ethereum developers had to quickly split the blockchain in two, creating the Ethereum classic fork. it reduced the amount of stolen assets the hacker could access.

According to Chris, the popular opinion is that the Solana network will crash, but that is far from the truth. Without bad players like Alameda and FTX, there would be more room for better players to enter the Network. people who would double down with more fire.

Finally, he pointed out that SOL was around $1 in 2020 and is now above $10 in 2022, which is a sign of growth. But only some people share his optimism. Plenty people believe that bad players are still in the Solana network. People like Armani Ferrante.

Remember Armani Ferrante?
The guy that blocked me on Twitter for pointing out the fact he was a core software engineer at @AlamedaResearch?

He also served as advisor to FTX Ventures, which led a $20M fundraise for his company @0xCoral, essentially funding himself with FTX funds pic.twitter.com/IKifGO1hvH

— J//G0Ξ (@JagoeCapital) November 29, 2022

The founder of Visionary studios, who has NFT collections stored on the blockchain, came out after the crash to call out yet another employee of FTX, that was a core developer for Solana, who then went off with millions worth of FTX user funds to start his own company, Coral.

If that information is true, then there are some bumpy roads ahead for the Solana Network.

Tags: FTXSolana
Chiwuike Owunwa

Chiwuike Owunwa

Chiwuike is a frontend programmer and writer with 3 years experience in the Web3. He's meticulous researcher, enthusiastic about Blockchain and the future of crypto, DeFi, and the Metaverse.

Related Posts

Bloomberg analysts predict 95% approval odds for Solana, Litecoin, and XRP ETFs in 2025

SOL, LTC, XRP ETF Approvals Now Have 95% Chance in 2025, Say Analysts

June 21, 2025

Analysts give SOL, LTC, and XRP ETFs a 95% approval chance in 2025, citing SEC engagement and positive...

creenshot of fake CoinBridge crypto exchange linked to $860K scam

JD.com Joins Stablecoin Race Amid US Approval of GENIUS Act

June 18, 2025

JD.com enters stablecoin market to slash global payment costs by 90%, as US Senate passes the GENIUS Act...

24H HOLD token price chart showing 35% surge despite market pullback

Solana Dips Below $150, But Altcoins HOLD, AB, and 0x0 Surge Ahead

June 15, 2025

Solana loses key support at $150, but HOLD, AB, and 0x0 soar with strong volume, social momentum, and...

Donald Trump at a crypto conference amid growing earnings and ethics concerns

Trump Reports $57M Crypto Windfall as Ethics Concerns Mount

June 14, 2025

Trump reports $57.4M in crypto income via World Liberty Financial. Ethics concerns rise over his influence and growing...

Press Releases

image2

Could XYZVerse Overtake DOGE and SHIB? Analysts Say $0.003333 Could Explode to $10!

March 30, 2025

XYZVerse aims to outpace DOGE and SHIB, with bold $10 price goals, strong community rewards, and rising demand as it...

image1 1

Massive Institutional BTC Buys Could Launch the Next Bull Market: 5 Altcoins to Watch

March 29, 2025

Institutional Bitcoin buys may trigger a market surge. Five altcoins, including $XYZ, stand to gain—early investors could see major ROI...

image1

XRP Faces Strong Resistance While XYZVerse Gains Early Investor Attention With 10 Billion $XYZ Airdrop

March 28, 2025

XRP struggles at resistance, while XYZVerse grabs early investor attention with a 10B token airdrop and rapid growth toward a...

BTC

Popular Memecoin MEW Pledges $10,000 to Pasadena Humane Organization to Aid Animals Affected by California Wildfires

January 20, 2025

MEW memecoin donates $10K to Pasadena Humane for wildfire-affected animals. Join the mission to aid pets and wildlife in crisis...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise