The relationship between FTX and Solana

The project's toxic relationship with FTX means Solana is now all but dead.

The ongoing relationship between FTX and Solana has been a source of controversy and continues to have a negative impact on the reputation of Solana.

Despite its bankruptcy, FTX still holds a significant amount of SOL tokens, which it obtained through a purchase of 50.5 million tokens from the Solana Foundation.

Ah, gotta love a good pre-mine for insiders.

These tokens are now being released to FTX/Alameda in a series of gradual unlocks that will continue through 2028.

What does Solana's relationship with FTX mean for price?

Well, it means that over the next 6 years, they will ALL find their way onto the market for whatever price liquidators can get for them.

If you were investing in Solana and you know supply is going to continue to be dumped on the market, I take it you're not going to be lining up to buy at a high price.

Or if you were a dev looking for a chain to release your latest, innovative dApp onto, you wouldn't be excited by Solana's prospects.

For me, what this says is that Solana is dead.

There's simply no other way to put it...