‘We were worried about ecosystem startups’ — Solana CEO on FTX collapse

The infamous collapse of FTX sent out shockwaves through the broader cryptocurrency area in 2022, but the Solana community was particularly tough hit in the fallout.Speaking specifically to Cointelegraph at the latest edition of the Solana Breakpoint conference hosted in Amsterdam, Solana co-founder and CEO Anatoly Yakovenko remembers his concern for numerous tasks that were developing on the layer-1 clever contract blockchain procedure. Solanas native token, SOL (SOL), saw a substantial drop in value in the instant wake of FTXs bankruptcy, with its token trading at $36 in early November 2022 before dropping as low as $12 in the days after the exchanges collapse.Related: Sam Bankman-Fried found guilty on all 7 charges in FTX fraud trialSolanas brains trust and a number of investors called hundreds of groups developing products, services and decentralized applications to take stock of the security damage. Solana CEO and co-founder Anatoly Yakovenko provides a keynote in a Halloween outfit at the start of Solana Breakpoint 2023 in Amsterdam. Yakovenko highlighted the impact of Ethereum venture capital financier Chris Burniske in articulating the value proposition of Solana.” He generally stated now is the time to go look at Solana since this significant thing that was really bad for decentralization is gone.

The infamous collapse of FTX sent shockwaves through the more comprehensive cryptocurrency space in 2022, but the Solana environment was particularly hard hit in the fallout.Speaking specifically to Cointelegraph at the most current edition of the Solana Breakpoint conference hosted in Amsterdam, Solana co-founder and CEO Anatoly Yakovenko recalls his concern for a number of tasks that were constructing on the layer-1 clever contract blockchain protocol. Solanas native token, SOL (SOL), saw a significant drop in worth in the instant wake of FTXs personal bankruptcy, with its token trading at $36 in early November 2022 before dropping as low as $12 in the days after the exchanges collapse.Related: Sam Bankman-Fried discovered guilty on all 7 charges in FTX scams trialSolanas brains trust and numerous financiers contacted hundreds of groups building items, services and decentralized applications to take stock of the collateral damage. Solana CEO and co-founder Anatoly Yakovenko provides a keynote in a Halloween costume at the start of Solana Breakpoint 2023 in Amsterdam.

Yakovenko highlighted the impact of Ethereum endeavor capital financier Chris Burniske in articulating the worth proposal of Solana.” He essentially said now is the time to go appearance at Solana due to the fact that this significant thing that was actually bad for decentralization is gone.