Stephen Akridge, co-founder of Solana, has been slammed with a lawsuit by his ex-wife, Elisa Rossi. The couple were married for 10 years before filing for divorce in 2023. However, Rossi has now filed legal claims that Akridge misappropriated “millions of dollars” in cryptocurrency.
Allegations of Stolen Crypto Rewards
According to the report, Rossi claims that the Solana co-founder stole “millions of dollars” from the gains from her digital wallet holdings of Solana (SOL).
Notably, Akridge’s ex-wife accuses him of redirecting staking commissions from her holdings for his benefit. This is according to a complaint she filed at California Superior Court, San Francisco County. She alleged this happened between March and May 2023 after the couple filed for divorce in February.
Rossi is now seeking damages for breach of contract and fraud, including undue enrichment. Akridge has been involved in other projects before co-founding Solana. He worked with Qualcomm Inc. as a principal engineer for the blockchain.
Solana’s Historical Market Resurgence
Solana has recorded interesting price development as it crashed from about $134 in 2022 to a low of $10 in the same year. The challenges resulted from the asset’s close association with now-disgraced Sam Bankman-Fried and his trading firm, Alameda Research.
However, SOL has moved past that ugly incident and sits among the top 10 crypto assets by market capitalization. Solana’s market capitalization stands at over $89.73 billion as the asset continues to make waves in the crypto sector.
As of this writing, SOL is trading at $186.43, a 2.12% decline in the last 24 hours. The asset has witnessed increased price fluctuation that saw it plunge to a low of $177 and a high of $201. As the coin battles this market volatility, its trading volume has declined significantly by 21.98% to $2.15 billion.
Solana’s Growing DeFi Appeal
The Solana network has recently become a major attraction in decentralized finance (DeFi).
Many developers are shifting from Ethereum to Solana, and the network has over 7,600 new developers. This figure flips those on Ethereum, a development analyst expects to reflect in the price outlook soon.
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