Bitmain Founder-Backed Asset Manager to Delist Solana

Dec 29, 2022

By Chayanika Deka

The crypto market may have a small memory, but FTX’s doom continues to haunt Solana.

The Solana ecosystem that was once heavily tied to Sam Bankman-Fried’s FTX has been badly wounded after the collapse. As debates accelerated over the prospects of Solana, its native token – SOL – has plummeted 96% from its all-time high of $260 in November last year.

Adding to its woes, crypto asset management company Matrixport is reportedly gearing up to delist Solana and Solana-U dual currency investment products on December 30th.

• Interestingly, Matrixport is founded by Jihan Hu, who happens to be the co-founder of Bitcoin mining hardware giant, Bitmain.

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