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Solana Blockchain Halts: Alameda Research to Blame?

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Solana Blockchain Halts: Alameda Research to Blame?


By Coingabbar

4 months ago
2 mins read
Solana Blockchain Halts: Alameda Research to Blame?

While FTX remains ambiguous, crypto influencer BitBoy claimed Alameda Research largely controlled Solana.

More rumours are emerging as the Solana ecosystem continues to get criticism for its FTX links. A trading pair removal for the Serum token, which is associated with a cooperation with Solana, was previously disclosed by Binance. Solana pricing is hardly showing signs of recovery after dropping more than 50% of its value following the FTX meltdown. The FUD surrounding FTX and Alameda Research may never disappear, which might lead to more price declines for cryptocurrencies.

Alameda Pressure: Solana Halt?

According to a recent claim made by crypto advocate BitBoy, Alameda Research kept transactions after the Solana blockchain was stopped. In his most recent tweet, he also issued a warning, advising individuals with investments in Solana to sell their assets. BitBoy said that Alameda Research used some transactions to pressurise and launder money when the blockchain was down. As a result of FTX's investment in the blockchain technology, the Solana price fell significantly. BitBoy remarked,

Every time the Solana blockchain froze, Alameda Research was actually brute-forcing transactions and money laundering.

Run for the hills if you're in Solana (SOL)!

In the meantime, Solana's chief of communications, Austin Federa, refuted it, claiming that is not how blockchains operate. As of this writing, the price of Solana (SOL) is $14.24, up 1.42% over the previous day, according to market monitoring site CoinGabbar.

Network Outages

The Solana blockchain has already experienced numerous network disruptions. SOL recently experienced a significant network outage on October 1, 2022. A single node's incorrect configuration was the cause of the standstill. The Solana network had previously experienced an interruption because of a problem with the support system. Transactions halt during these network failures, often for several hours.

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