The post Deaton Composes Special Message For FTX Founder Amid Solana Rally appeared on BitcoinEthereumNews.com.

Attorney John Deaton has taken a swipe at FTX founder Sam Bankman-Fried after the exchange’s Solana holdings soared from $1B to $6B.  Solana (SOL) is currently one of the best-performing crypto assets in 2023, which has left many investors stunned.  SOL Rises From the Dust  As of this time last year, SOL was changing hands below $10 following the collapse of FTX, an exchange that championed the coin.  Interestingly, SOL’s devastating plunge is now a thing of the past, as the coin now ranks among the top-performing cryptocurrencies this year, surging 853% year-to-date (YTD).  At press time, SOL currently trades at $94, up 8.5% over the past 24 hours. It is also the fifth-largest cryptocurrency, with a valuation of $40.22 billion, having recently overtaken XRP’s position. FTX’s SOL Holdings Spike  To shed more light on SOL’s astounding performance, crypto sleuth Mr. Huber highlighted the impact of the coin’s recent price increase on FTX’s SOL holdings.  In a tweet yesterday, Mr. Huber recounted how the price of SOL bottomed on September 13, when a bankruptcy court approved the liquidation of FTX’s assets.  – Advertisement – The crypto sleuth pointed out that FTX’s SOL holdings plunged to around $1 billion following the coin’s price dip on September 13. With a unit of SOL changing hands at $94, Mr. Huber stated that the exchange’s SOL holdings have now grown to $6 billion.  For context, the price of SOL dipped to around $17 on September 13. Aside from SOL, Mr. Huber mentioned that FTX’s native token, FTT, also collapsed on the same day. However, he added that things have returned to how they were before the devastating collapse of FTX.  Deaton Composes Special Message for SBF  Reacting to Huber’s tweet, prominent crypto lawyer composed a special message for embattled FTX founder Sam Bankman-Fried (SBF). …

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Filed under: News - @ December 23, 2023 12:18 am