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18 Nov 2022

Layer by Layer: Solana Ecosystem Contends with FTX Fallout

Quick Take

  • In this weekly series, we dive into some of the most interesting data and developments across the Layer 1 blockchain landscape, from DeFi and bridges to network activity and funding
  • The sudden collapse of FTX and Alameda has sent shockwaves throughout crypto, imparting significant capital losses to a wide range of parties including users, developers, investors, and more
  • Among L1s, the Solana ecosystem was impacted most severely by the incident due to early investments from FTX and Alameda, along with the two companies’ roles in providing an extensive range of market-making and infrastructural services for the ecosystem
  • Solana now faces a long and uncertain road to recovery, but steady network performance during the recent crisis offers a glimmer of hope that continued technical updates can lay the foundation for user interest and growth once more in the future 

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