The Solana Foundation, a non-profit organization that supports the development of the Solana blockchain, also acknowledged having $1 million in cash or other equivalent assets that were trapped on FTX.

The world’s largest stablecoin issuer, Tether, has ensured that there are no risks from USDT on the Solana network.

Solana (SOL) trades at $13.5, with a 5% loss in the last 24 hours and a 3% loss in the previous week. The cryptocurrency is recording significant losses across all timeframes due to the recent event surrounding FTX and the contagion impacting the crypto industry. 

Crypto exchanges Binance and OKX announced temporary suspension of USDC (SOL) and USDT (SOL) deposits.

Solana (SOL) Foundation revealed that it held roughly $1 million worth of cash or its equivalent -less than 1% of its assets- on bankrupt crypto exchange FTX as of Nov. 6, according to a Nov. 14 blog post.

The cryptocurrency market continues to bleed out and in the past 24 hours, its total capitalization shed another $20 billion.

Transak, a Web3 onboarding infrastructure provider, is taking a step in this direction, announcing the launch of its crypto-to-fiat off-ramping service.

After Google Cloud announced that it would offer a product called the “Blockchain Node Engine” and further noted that Ethereum would be the first blockchain supported, the company revealed it was running a Solana validator on Nov. 5, 2022. Google said that the cloud division is currently working with Solana in order to bring the firm’s Blockchain Node Engine to the Solana chain.

Payments firm Circle is bringing Euro Coin to the Solana blockchain and expanding its cross-chain protocol to Solana in the first half of 2023.

Instagram and Facebook have integrated with the Solana blockchain to allow users to showcase their NFT collections! The Solana Foundation has teamed up with leading NFT ecosystem creators, marketplaces, and infrastructure projects to celebrate with a special contest.