Stephen Akridge, a co-founder of the distinguished blockchain platform Solana, is embroiled in a authorized battle together with his ex-wife, Elisa Rossi, over allegations of misappropriating tens of millions of {dollars} in Solana (SOL) token earnings.
Rossi claims in a lawsuit filed in San Francisco Superior Court docket that Akridge exploited his superior data of cryptocurrencies to siphon staking rewards from her digital pockets, in keeping with a report by Bloomberg.
Staking, a course of that includes pledging cryptocurrency belongings to validate blockchain transactions, can yield vital returns within the type of extra tokens.
Akridge Reportedly Managed Her Accounts
Rossi’s criticism alleges that Akridge covertly managed her accounts, reaping all of the staking commissions allotted to her.
The worth of the disputed tokens has been redacted within the court docket paperwork, however Rossi has described the quantities concerned as “vital.”
She has additionally requested parts of the case stay confidential as a result of delicate monetary particulars.
The authorized dispute follows the couple’s divorce submitting in February 2023 after a decade of marriage.
Rossi is searching for damages for breach of contract, unjust enrichment, and fraud.
NEW: Stephen Akridge, a co-founder of @solanalabs and holder of Solana tokens, a digital asset that has a complete market cap of over $90 billion, is going through authorized motion in San Francisco state court docket.
— Michael A. Mora (@MichaelAdamMora) December 26, 2024
Solana, identified for its speedy transaction speeds and rising ecosystem, has been a standout performer within the cryptocurrency market regardless of earlier setbacks, together with its affiliation with Sam Bankman-Fried and the FTX collapse.
The platform’s latest resurgence in worth has additional amplified curiosity within the tokens on the heart of the lawsuit.
In accordance with Rossi, Akridge beforehand labored at Qualcomm Inc. and served as Solana’s principal engineer, collaborating carefully with co-founders Anatoly Yakovenko and Raj Gokal.
The lawsuit proceeds below the title Rossi v. Akridge, CGC-24-620900.
Solana DEX Buying and selling Quantity Surpasses $100B
Solana achieved over $100 billion in decentralized alternate (DEX) buying and selling quantity for the second consecutive month in December.
With a $107.865 billion in month-to-month DEX quantity (as of Dec. 27), Solana outpaced its opponents in December, together with Binance Good Chain (BSC) and Ethereum (ETH), which recorded $91.444 billion and $84.168 billion.
In November, Solana additionally reigned supreme with $129.736 billion in DEX quantity, properly forward of Ethereum’s $70.635 billion.
As reported, Solana has overtaken Ethereum as the highest vacation spot for brand spanking new builders in 2024, breaking Ethereum’s eight-year dominance within the area.
In accordance with a December 12 report by Electrical Capital, Solana noticed 7,625 new builders be part of its ecosystem this 12 months, surpassing Ethereum’s 6,456. The surge was pushed largely by elevated developer exercise in Asia.
Notably, Solana additionally briefly surpassed Ethereum on two vital events.
On March 18, Solana’s community exercise exceeded Ethereum’s because of heightened demand for Solana-based meme cash.
Later, on October 28, Solana’s every day community price technology surpassed Ethereum’s for a 24-hour interval.
In one other incident, earlier this month, distinguished blockchain researcher Max Resnick introduced that he has shifted from Ethereum infrastructure agency ConsenSys to SOL-focused R&D firm Anza.
Resnick beforehand led analysis at ConsenSys’ Particular Mechanisms Group, the place he voiced help for different scaling fashions.
The publish Solana Co-Founder in Authorized Dispute with Ex-Spouse Over Alleged Theft of Thousands and thousands in Holdings appeared first on Cryptonews.