Is Alameda Research Behind Solana Blockchain Halts?

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Alameda Research News: As the Solana ecosystem continues to face the flak due to its FTX links, more speculation is coming out. Earlier, Binance announced removing trading pairs for Serum token, which is linked with a Solana partnership. After losing more than 50% in value after FTX collapse, Solana price is hardly showing signs of recovery. With no end to the FUD around FTX and Alameda Research, the cryptocurrency could be up for further drop in price.

Solana Halt: Alameda Pressure?

In a latest, crypto influencer BitBoy claimed that Alameda Research held transactions when Solana blockchain was halted. He also warned in his latest tweet saying those who have positions in Solana should get rid of the assets. BitBoy said Alameda Research laundered money and pressurized with some transactions during the blockchain halts. The Solana price dropped heavily thanks to FTX’s investment in the blockchain project. BitBoy said,

“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.”

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Meanwhile, Austin Federa, head of communications at Solana, denied it saying that is not how blockchains work. As of writing, Solana (SOL) price stands at $14.46, up 0.86% in the last 24 hours, according to price tracking platform CoinMarketCap.

Network Outages

The Solana blockchain faced network outages on multiple occasions in the past. Very recently on October 1, 2022, SOL suffered a major network outage. The halt was due to misconfiguration in a single node. Prior to that, the Solana network had an outage due to an issue with the support structure. These network outages involve halting of transactions for several hours.

Also Read: Binance Chief Doubles the Target for Crypto Recovery Fund to $2 Billion

Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

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