The Sam Bankman-Fried-backed crypto Solana has lost nearly all its value this year and is still crashing as key projects bail

Dec 28 2022 by Business Insider

 
Sam Bankman-Fried, founder of FTX and Alameda Research

FTX

Solana, once praised as a viable rival for Ethereum, has tumbled almost 70% since the collapse of Sam Bankman-Fried's empire, and is down 94% in 2022. The token was heavily backed by Bankman-Fried, and his companies held large positions on their books. The disgraced crypto founder said over the summer that Solana was the most underrated cryptocurrency.

Sam Bankman-Fried touted Solana this summer as the most underrated cryptocurrency,...

Continue Reading The Sam Bankman-Fried-backed crypto Solana has lost nearly all its value this year and is still crashing as key projects bail