Solana co-founder Stephen Akridge accused of misappropriating ex-wife’s crypto gains

Stephen Akridge, co-founder of Solana, is embroiled successful a ineligible quality with his ex-wife, Elisa Rossi, implicit alleged misappropriation of important gains from Solana (SOL) tokens, Bloomberg News reported connected Dec. 27.

Rossi claims that Akridge utilized his precocious expertise successful crypto and blockchain to siphon disconnected staking rewards from her integer wallet.

According to the complaint, Akridge’s actions resulted successful Rossi losing “millions of dollars” successful income. She further alleged that Akridge controlled her accounts from aboriginal March to mid-May and reaped 100% of the staking commissions allocated to her SOL holdings.

While the nonstop worth of the disputed tokens remains undisclosed, Rossi has described the sums arsenic “significant” and requested portions of the ailment beryllium kept confidential. Solana Labs and attorneys representing Akridge and Rossi person not commented publicly.

Akridge was a main technologist astatine Solana and played a cardinal relation successful processing the blockchain level alongside co-founders Anatoly Yakovenko and Raj Gokal. Before his engagement successful Solana, Akridge worked astatine Qualcomm Inc. He is present the CEO of Cyber Grant, a California-based cybersecurity firm.

The mates filed for divorcement successful February 2023 aft a decennary of marriage. Rossi’s suit alleges breach of contract, unjust enrichment, and fraud and seeks damages for the fiscal losses she claims to person incurred.

Liquid staking maturation connected Solana

According to antithetic platforms, staking SOL tokens grants an yearly percent output (APY) ranging from 5.6% to 12%.

However, users boost their yields utilizing liquid staking platforms, arsenic the full worth locked (TVL) connected Jito suggests. The protocol is the largest connected Solana by TVL, approaching $2.7 cardinal per DefiLlama data. The liquid staking marketplace represents astir 50% of Solana’s full TVL.

Liquid staking gives the idiosyncratic a proxy token successful the aforesaid magnitude allocated successful staking, successful summation to the platform’s APY. As a result, the caller token generated tin beryllium utilized connected antithetic decentralized concern protocols, boosting imaginable rewards.

The station Solana co-founder Stephen Akridge accused of misappropriating ex-wife’s crypto gains appeared archetypal connected CryptoSlate.