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HomeCryptocurrency MiningAustin Federa of Solana Foundation Says Network Gains New Users Despite FTX's...

Austin Federa of Solana Foundation Says Network Gains New Users Despite FTX’s Collapse


Austin Federa, head of strategy and communications at the Solana Foundation, said that despite the collapse of FTX, new users continue to join the network.

Facing fraud charges, Sam Bankman-Fried was a prominent advocate for Solana.

Solana Keeps Gaining Users

Speaking on the First Mover program on CoinDesk TV, Federa pointed out that despite the FTX collapse, the network’s on-chain activity has increased.

Sam Bankman-Fried, founder of the bankrupt FTX, was among the most prominent advocates of the Solana ecosystem. According to a blog post released by the foundation in November, FTX and Alameda Research have purchased SOL for more than $58 million.

Federa stated that this interest has helped and may have contributed to the rise of the network as Solana-based DeFi projects have left the ecosystem.

Federa pointed out that although NFT projects such as DeGods and Y00ts have left the network, new developers continue to be recruited.

“There are so many things you can create only in Solana and the developers continue to build here”


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