Bitcoin Forum

Recent news is SBF (Sam Bankman Fried) has released because of $250million bond.
Source : https://blockworks.co/news/sbf-released-on-bond

As we know, Solana was created by SBF before, and Alameda research still own huge sum of $SOL coin (approx 13.25% from supply). Source : https://www.google.com/amp/s/m.investing.com/news/cryptocurrency-news/sbfs-alameda-research-holds-1325-solana-coins-in-circulation-2952320%3fampMode=1

So i think there are 2 scenarios,
1st, $SOL will come back, as SBF will find a way how to make it "pump" again. We know $SOL price has been dropped -95% from ATH

https://i.ibb.co/kXZByw2/IMG-20221224-112227.jpg

2nd, $SOL will die. If alameda decided to dump all their $SOL holding on market, it will make huge dump for $SOL coin.

So whats your opinion?

@janggernaut. Solana might pump again during a bull market similar to many of the other altcoins in the cryptospace. But to be something as a challenger vs. Ethereum or to be the first blockchain of choice for Defi and NFT, no more. Some of Solana's best developers have left already to work on Aptos and Sui.

I reckon Fantom has more potential than Solana. Famous Defi developer, Andre Cronje has also returned and it appears that he will be working on new projects in Fantom.

Alameda owns 13% of coins. Community owns the rest of it - 87% of supply. The real problem is everyone dumping SOL not only alameda. And I think that people will turn away from solana.

1- its price was manipulated by alameda and stolen founds
2- it was way overhyped mainy because of price pump from stolen founds
3- it did not build userbase big enought to compete with ETH, TRX, BSC when it was popular. They didn't do it when they were at the top, they won't do it now
4- there are other projects that will fill the gap

what I know right now is that Solana is experiencing 2 big problems that come together and you have to be stronger to face them if you don't want to die.
The first problem Solana has to face is the current bearish season.
and the second and most important problem is the impact of FTX dumping all SOL coins and Alameda also still holding a large amount of SOL.
I think the Solana development team must work hard to accommodate these two problems and must have another plan in case one day there is a disposal of the SOL held by Alameda so that SOL will survive even though the price is very low.
but I'm sure the Solana team has prepared everything to fight this situation and will probably recover when the next bullish comes.

Seeing many people trying to leave solana especially its developers. There's something wrong with it and even with SBFs bail paid, I don't think that he'll try to focus on it.

He's focusing more with what he's facing and that's all about the case that he's got.

He's out temporarily and will use it to do other better things but yeah, one of it could do something like pumping any coin he wishes. But will he be able to do that on this situation? I doubt.

SBF, Alameda became the worst thing that happens to any projects they support.
Solana network was already making people loss interest on the project and now that sbf dirty laundry has been revealed to the public, investors will lose the confidence to hold the coins, dev will not want to continue supporting and developing project that is not transparent. There are better projects out their .

The bearish season is a natural phenomenon and even the best cryptos like BTC and ETH are also not exempted to that so no, this wasn't the fault or the problem of Solana but the second one could be a real threat to them. Other than that, I think Solana have face a different problem last time but it was solved out already.

If they can do that then I believe they can also solve their other problems. They need to show what they got. If they pass this one then the trust of the public for them are going to be more stronger. For now, those who are in doubt must call down because I know that there are people who will continuously spread this news, only to scare them.

This will surely affect SOL and even if SBF has been released, it will be hard to attract new investors again especially now that many knows what they did to other project. SOL should start making update without SBF and they have to assure the public that their project is still safe and far from being bankrupt, SOL was a great project before and I hope they can still recover.

SBF back again but it's not with his FTX. SBF was getting bail out didn't mean if he was free from court demands. I meant his hearing will still continue and he will be getting what he deserves. The bail out of SBF makes no difference as he was loosing the power caused by FTX was dead and he has no money left except some hundreds of millions USD that being hacked by himself. I think that SOL has no chance again to go up. FTX as the main and biggest backers of solana already dead.
Investor become even smarter than before. investors have been labelling solana or anything that related with SBF as a high risk investment that can be used only for the gambling purpose.
I see that no second chance for solana and the fact that the solana blockchain was also a garbage blockchain as well.

Speculators gonna speculate on news and SBF isn't really "released". But i have to admit that when i just saw Jim Cramer bashing SOL and other altcoins and calling investors idiots, i have to admit i am starting to be very bullish. As you really can't get more bullish signals then that. Trading the opposite of Jim Cramer is smart money no matter how crazy it seems. That guy is wrong about everything and always late to the party.

I will accept the doom of SOL after Cramer buys it. Until then it's long SOL for me.

Right now, the only thing SBF cares about is his own safety, he doesn't care about anything else. He's out of jail, and now he's going to figure out with his patrons how to make it all go away with as little loss as possible. I don't exclude that Alameda, together with FTX, can be restarted in the future under new management and with a new strategy, then FTT and SOL have a chance to continue their life.

this is why i am more on the second scenario that may possibly happen to SOL. it will be a domino effect if the SOL team right now will not do a radical change of their position right now. if they are still relying on SBF, that would be a dangerous decision for them. when there was no FTX drama yet, i was thinking that SOL network was one of the strongest networks at that moment. but with this SBF scenario, i don't know if they will be hugely affected by this. if the team is not strong enough to battle this scenario, this network will easily go down.

yes, that's right, because if Solana is able to survive and finish all of this until the bulls arrive, it is likely that more people will believe in Solana.
because of all the problems that were received and that had to be resolved Solana was so heavy and in the end it gave good grades in the coming year. so that the public will judge that Solana is a strong coin and deserves to invest there.
but back to the main topic, that's all if Solana survives.

In my opinion, whether Solana survives and continues to grow is up to Solana's team, not FTX's or Alameda's decision. Both are only Sol's biggest investors, not the project owner, and Sol is also invested by many other funds, not just the two of them.
In case even if SBF comes back, he can't help Solana because, with his bad reputation, people will stay away from all the projects he claims to support. Solana's fate is in their hands, but with what's going on, I doubt their future.

Yeah, but probably how low it an go this bear market that maybe investors are going to look for other coins to invest? sort of leaving Solana for dead because it's name is attach to Alameda/FTX fiasco?

So we will have to see, maybe there are a lot of coins that could pump in the next bull run, and it might not include Solana unfortunately.

And for sure there will be new coins that will come in the near bull market and more likely going to be pump. Just like what happen in 2017 bull run, a lot of ETH challenger pump so hard but in the bearish market they all become dead or barely breathing by now.

I agree with you Sam is in the middle of life treating a crisis after the collapse of his firm last November where millions of Americans lost huge money, this has changed things around the CEO lately, and if you have watched the look on Sam Bank-Fred's face lately you will see a guy that is disoriented I don't know if that is as a result of drugs due to the depressing situation or just a game plan to get sympathy from investors who have lost money im the process but against all odds, remaining in jail seems to be the safest place for SBF right now and I don't think he will go through the stress of getting Solana pumped just to meet his bail condition. As a matter of fact, SBF is no longer in charge of things and he has no balance in any of his accounts as he went from billion dollars to a few thousand before his bankruptcy note, so spending 10 years jail term is a kind of safe haven for him until things settle for him personally. Realising him on bail is a big risk to his life because Sam has been the mastermind behind the ruining of many people's life.

SFB i most likely going to jail but this was interesting:

https://i.imgur.com/GHH1ILC.png

Bump from vitalik is actually most bullish thing i've seen about it since SBH started to buy everything under $5. I think that people will forget SBH eventually, but vitalik praising fundamentals of SOL (or team of sol) is something else completely. Smart people tend to listen him and rich people listen to smart people. I think it's only a matter of time the bottom hits. Or it has already done so not that's under $10

Well this time, I don't think SOL have any chances of recovering knowingly fully well how deeply connected SOL is with FTX and the whole shambles that happen to it developers and owners.this situation have affected the entire cryptocurrency market and Even ethereuem is also suffering from the aftermath of the November FTX bankruptcy crisis, San bankman-fred is facing fraud, money laundering charges and possible 10 years jail terms this event have lead to many project crashing, so I believe that there will be worst days ahead for SOL and no matter the bullish statement from any individual, it price may not recover since cryptocurrency trustees and this situation have betrays the little trust investors hard for centralized projects.

This is why they should have a back-up plan but it looks like they didn't expect this to happen as these companies are big enough to support their project unfortunately, their nightmare started since the collapse of FTX. If they can still see other way to survive this major problem, better to do it now without any help from FTX or even on Alameda. The released of SBF is nothing but just a way to skip his liabilities, most probably SBF will start to liquidate and look for other ways to secure his money. Imagine paying that huge amount of money instead of using it to pay back to investors, that is something not to be happy if you were one of the investors.

Just because they are responsible for some things, doesn't mean they are responsible for it all the time. However, when a company is in trouble and they have that much money, it is unlikely that they would not sell it. There is a good chance that they will get rid of their SOL position and use that money for cash flow problems. It's not an unlikely situation, and it will probably be the most common sense thing to do.

SOL would crash because of this, but it will not go away forever, it will stay and it will make some noise later on, it will just not be as big as it used to be that's it. Not being able to reach it's full potential, and dying is not the same, it won't do either.

I am not saying it would be fast or easy ride back to top. It always take a lot of time for investors get their confidence back, especially when we look at the facts and what brought the market down.

And in the new bull run lot's of people won't even remember how this fear on the bear run felt or why on earth they didn't buy the bottom. It takes a lot of stupid bravery to invest the bottom, because most of the time it isn't the bottom.

And if he released but temporarily only, he is on bailed and anytime he could go back to jail. As I have said previously on Solana getting involved their name in this debacle, it will be very difficult to come back and make a clean slate again. Their names will be dragged here and who knows, they could be mentioned in the court hearing or deposition that it will really damage their reputation.

So with that, I'm not seeing them making a comeback specially that we are still in the bear market this coming 2023. Maybe some entities are going to take advantage and put a pump and dump scheme, but that's the best scenario for now, pure p&d and then investors losing this confidence in this project. I not saying that Solana is bad, they are solid, but we know in crypto that once you reputation has been in question, it's hard to make a comeback.

Everyone seeing some bad news with solana. Projects made through solana are bridging to other chains.
It is no longer about sbf but solana itself.
Hacks that has happened there made the worse for solana and I guess we are going to see the next big downfall of a project on 2023.

I don't think alameda or SBF will sell all of their SOL because this will further jeopardize their position, I'm sure they still want to be in the crypto world creating new projects and making bigger profits, so they will try to pump the SOL market slowly increasing price and start planning something else to come back to earn them the trust of investors even though it's a difficult thing

For me, it's now nothing to do with Sam Bankman-Fried after all. It just sucks that the major backer of Solana is the fraudster, FTX Exchange/Alameda or in short, Sam Bankman-Fried.
We all know that Solana is one of the best L1 alternatives for Ethereum before and became a big player/gainer during the last bull market but after that, Solana also became the big loser after all plus this issue on FTX.
For me, Solana will continue with or without Sam Bankman Fried, it's just good that Solana right now is still here.

Like I said before and I’ll say it again, try and avoid this coin at all costs. Besides all these server issues they had in the past. Their connection to FTX is way too close.

Also don’t forget that they own many of the locked sol tokens and these will be liquidated in the bankruptcy preceding to pay off all the creditors. Just like MtGox sold back in 2018.

If you want to gamble with SOL, you can buy it now and hold on to it, hoping the price will go up and return to its original high. But if you are not sure about SOL, you don't need to buy SOL and leave it and look for other coins.

We don't know what impact this news will have because investors seem to have distrusted SBF and are trying to leave it with losses. Investing in SOL has risks because we have seen what happened to SOL. So it's better to be careful and think about it well so you won't regret it later.

Just wanted to point out, that i noticed sol moving up right now and i checked the charts. Sol is up 65% this year. You can hate it all you want but that's pretty impressive for such a high marketcap coin in a bear market.
And then there's the bonk rally that raised some eyebrows. Who knows, maybe sol will lead us to altseason. I for one am amazed as i thought the fud would bring it beyond recovery.

I'm also a bit surprised, I was expecting Sol to not come back after so much bad things that happened and were talked about.

But given the current price index, I think Sol is in a fairly good position compared to the lowest point it reached around $9. This is a good performance given the difficult conditions that Sol went through.

Personally, I hope Sol recovers because I used to consider it as good coins in the market, but so far there are no strong factors that make me say that Sol has fully recovered, this improvement can only be temporary.

It's really an obvious situation where too many people are overreacting to the situation. I know it's not going to be easy to accept SOL as a great investment, and you shouldn't if you do not want to but the idea behind rejecting it is a dangerous one if you are only worried about the movement.

Think of this as something that could put in danger, if you saw the pump and dump and then decided it's too risky and that's why you won't invest, there will be some good projects with pump and dump that will not mean it's gone. Maybe SOL is not one of them and it's okay not to invest into that, but there will be others and you should invest into them at the very least.

We need to strive to look farther than just the price of Solana, right now it has presented a nice recovery, but should that be enough to get people excited about a massive growth during the next months? Not really, Alameda still holds a massive stash of Solana, enough to crash the price by themselves, and if you add FUD to the equation, the reputation of SBF and its upcoming trial then it is very difficult for me to believe Solana will ever recover its former glory.

Where did you find this information? from what i know Alameda haven't owned SOL since November. And while liquidators got them under their control, they can't sell it until bankruptcy is completed. And that could take over 10 years.

So the biggest problem in SOL i see that this fud could and most likely is going to last over 10 years, and users end up waiting it to crash in next 10 years you take a toll.

Solana has recovered big time in the past week. It grew by 20%, but this is not the comeback that many might be expecting. This is not a sign that Solana has recovered from the damage connected with SBF. The growth of Solana is related to the recovery of Bitcoin and many altcoins.

I doubt Solana will be back at the top 10.

I highly doubt that his release would be of any effect towards SOL considering the fact that many of us has lost the trust in him, the only reason solana is rising right now is because bonk, other than that I could hardly see it could climbs up its value even higher, the only way for solana in keeping its worth is through meme coin that is BONK nothing more and that's not some strange feat considering this meme coin rise so significantly.

agreed, quite literally there are many alternatives that's just as good, solana might have the chance to increase again in the future but i still think that investing in its alternatives seems more logical choice honestly.
there are matic that has many projects in its platform and it's growing so fast enough that i'm sure next bullrun it's gonna be one of leading coin in term of value, then there's eth and btc that has lost quite of its value meaning recovery is imminent, I think even with presence of SBF coming back, solana will just stuck, everyone already losing their trust towards SBF anyway.

When word gets out that the liquidator trustees is starting to liquidate their assets such as their liquid coins and it shows up on the blockchain as being sent to exchanges then there is going to be a massive sell.

Remember when MtGox was selling coins in 2018 and caused BTC to crash, some of that sell pressure was due to the trustee liquidating the BTC so they can make users whole in US fiat terms. Here it will be no different.

I will remind you that even though he is released from prison or maybe he was released by several people,
of course the right reason for all of us is not to repeat the second mistake,
that is don't invest in FTX and SOL, never mind what FTX or SOL will be like later,
there are still lots of projects a good altcoin that has the potential to become the next FTX and SOL and of course really very safe,
that is DOT, XLM, or BNB are altcoin names which are really good for investment.