Solana Co-Founder Faces Legal Heat From Ex-Spouse Over Millions In Staking Profits

Solana Co-Founder Faces Legal Heat From Ex-Spouse Over Millions In Staking Profits

Solana co-founder, Stephen Akridge, is being sued for manipulating and taking thousands and thousands of {dollars} from his ex-wife’s staking rewards. Elisa Rossi filed the case within the San Francisco Superior Court, claiming that Akridge used his technical information of digital property and the blockchain to take the earnings from her Solana holdings.

Staking is a well-liked crypto course of the place customers lock their digital property to validate transactions in change for yields. Rossi additional argued that Akridge operated her staking accounts valued within the thousands and thousands with out authorization and picked up all rewards.

The case is at present pending within the San Francisco court docket. Akridge faces 5 counts: breach of contract, implied covenant of fine religion and honest dealing, unjust enrichment, breach of fiduciary obligation, and fraud.

Akridge Used His Expertise To Commit Fraud, Ex-Spouse Says

The couple married on March eighth, 2013, when Akridge was working with Qualcomm Inc. After 5 years, Akridge was recruited by a colleague, Anatoly Yakovenko, to begin a crypto firm which turned Solana Labs. The couple ended their 10-year marriage by submitting for divorce in February 2023.

Because the founders, they developed the Solana blockchain promise to hurry up transactions and its decentralized association. Rossi claimed that Akridge used his experience within the blockchain to regulate her digital asset holdings. Whereas Rossi didn’t determine the overall losses, she claimed the misplaced quantity is “significant.”

In the swimsuit, Rossi claimed that she contacted Akridge, however the defendant refused to reply to a number of inquiries and made it clear that he had no intention of returning the funds. She added that Akridge even laughed in her face, telling her to not anticipate her staking earnings to return.

SOL is at present buying and selling at $185. Chart: TradingView

Solana On The Rise

Rossi’s criticism comes at a time when Solana’s worth is beginning to get well. The blockchain has a tough historical past after its launch in 2017. Instantly after its launch, the venture impressed many via its proof-of-history consensus mechanism and quick transactions. Solana’s velocity and effectivity made it a competitor to Ethereum, notably in DeFi and NFTs.

Nonetheless, Solana’s rise has been marred by controversy, together with its connections to Sam Bankman-Fried’s Alameda Analysis. On the top of the FTX controversy, the SOL worth dived to $10, however it has since recovered and is buying and selling above $170 this December. Considering SOL’s latest worth restoration, Rossi’s alleged misplaced staking rewards may be price thousands and thousands.

So, What Occurs Subsequent To The Akridge-Rossi Rift?

The case is pending on the San Francisco Superior Court, and Akridge and even the Solana group has but to touch upon the problem publicly. Akridge is at present the CEO of Cyber Grant Inc.

Though the case remains to be pending, this difficulty can nonetheless have an effect on Akridge’s standing within the crypto sector.

Featured picture from DALL-E, chart from TradingView

Supply hyperlink

bitcoin
Bitcoin (BTC) $ 96,952.98 0.91%
ethereum
Ethereum (ETH) $ 2,666.79 1.89%
xrp
XRP (XRP) $ 2.46 2.14%
tether
Tether (USDT) $ 1.00 0.03%
solana
Solana (SOL) $ 202.23 4.37%
bnb
BNB (BNB) $ 635.82 9.32%
usd-coin
USDC (USDC) $ 1.00 0.01%
dogecoin
Dogecoin (DOGE) $ 0.256397 3.60%
cardano
Cardano (ADA) $ 0.702057 1.87%
staked-ether
Lido Staked Ether (STETH) $ 2,662.76 1.86%
tron
TRON (TRX) $ 0.234807 0.75%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 97,267.06 1.46%
chainlink
Chainlink (LINK) $ 18.68 3.63%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,177.54 1.93%
avalanche-2
Avalanche (AVAX) $ 25.28 5.28%
stellar
Stellar (XLM) $ 0.326888 0.49%
sui
Sui (SUI) $ 3.11 4.61%
shiba-inu
Shiba Inu (SHIB) $ 0.000016 5.20%
the-open-network
Toncoin (TON) $ 3.81 2.60%
hedera-hashgraph
Hedera (HBAR) $ 0.23888 4.34%
leo-token
LEO Token (LEO) $ 9.82 0.01%
usds
USDS (USDS) $ 1.00 0.04%
litecoin
Litecoin (LTC) $ 106.52 3.62%
hyperliquid
Hyperliquid (HYPE) $ 23.78 3.50%
bitget-token
Bitget Token (BGB) $ 6.41 0.56%
weth
WETH (WETH) $ 2,664.66 1.79%
polkadot
Polkadot (DOT) $ 4.86 7.08%
bitcoin-cash
Bitcoin Cash (BCH) $ 325.81 2.60%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.07%
mantra-dao
MANTRA (OM) $ 5.98 0.92%
uniswap
Uniswap (UNI) $ 9.25 5.23%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,821.32 1.81%
ondo-finance
Ondo (ONDO) $ 1.35 1.38%
pepe
Pepe (PEPE) $ 0.00001 6.24%
monero
Monero (XMR) $ 216.50 1.78%
near
NEAR Protocol (NEAR) $ 3.35 4.69%
whitebit
WhiteBIT Coin (WBT) $ 27.28 0.19%
aave
Aave (AAVE) $ 246.31 5.61%
mantle
Mantle (MNT) $ 1.05 0.41%
dai
Dai (DAI) $ 1.00 0.03%
official-trump
Official Trump (TRUMP) $ 17.04 0.17%
aptos
Aptos (APT) $ 5.92 5.88%
internet-computer
Internet Computer (ICP) $ 7.07 5.07%
susds
sUSDS (SUSDS) $ 1.04 0.34%
ethereum-classic
Ethereum Classic (ETC) $ 20.38 3.03%
bittensor
Bittensor (TAO) $ 363.86 7.76%
okb
OKB (OKB) $ 48.35 2.97%
vechain
VeChain (VET) $ 0.033257 2.86%
gatechain-token
Gate (GT) $ 21.40 3.69%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.314669 5.60%
crypto-com-chain
Cronos (CRO) $ 0.095944 4.59%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 96,858.95 0.92%
algorand
Algorand (ALGO) $ 0.278491 3.98%
kaspa
Kaspa (KAS) $ 0.088645 2.15%
render-token
Render (RENDER) $ 4.39 8.67%
tokenize-xchange
Tokenize Xchange (TKX) $ 28.06 7.20%
jupiter-exchange-solana
Jupiter (JUP) $ 0.840448 5.25%
filecoin
Filecoin (FIL) $ 3.36 5.40%
cosmos
Cosmos Hub (ATOM) $ 4.72 8.23%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 0.772147 9.48%
arbitrum
Arbitrum (ARB) $ 0.462339 6.86%
lombard-staked-btc
Lombard Staked BTC (LBTC) $ 97,843.21 2.06%
first-digital-usd
First Digital USD (FDUSD) $ 0.999768 0.02%
fasttoken
Fasttoken (FTN) $ 3.93 0.27%
celestia
Celestia (TIA) $ 3.17 13.25%
binance-staked-sol
Binance Staked SOL (BNSOL) $ 208.85 4.42%
binance-peg-weth
Binance-Peg WETH (WETH) $ 2,665.30 1.92%
ethena
Ethena (ENA) $ 0.50346 0.35%
kelp-dao-restaked-eth
Kelp DAO Restaked ETH (RSETH) $ 2,757.58 1.75%
solv-btc
Solv Protocol SolvBTC (SOLVBTC) $ 96,732.92 1.09%
kucoin-shares
KuCoin (KCS) $ 12.19 0.23%
optimism
Optimism (OP) $ 1.08 6.74%
immutable-x
Immutable (IMX) $ 0.83922 11.06%
raydium
Raydium (RAY) $ 5.01 1.96%
xdce-crowd-sale
XDC Network (XDC) $ 0.092435 4.37%
blockstack
Stacks (STX) $ 0.922585 7.95%
bonk
Bonk (BONK) $ 0.000018 6.23%
lido-dao
Lido DAO (LDO) $ 1.53 2.48%
injective-protocol
Injective (INJ) $ 13.96 6.35%
theta-token
Theta Network (THETA) $ 1.34 3.63%
rocket-pool-eth
Rocket Pool ETH (RETH) $ 2,986.03 1.95%
nexo
NEXO (NEXO) $ 1.33 0.59%
sonic-3
Sonic (prev. FTM) (S) $ 0.413584 8.31%
the-graph
The Graph (GRT) $ 0.135502 7.03%
flare-networks
Flare (FLR) $ 0.021812 2.88%
movement
Movement (MOVE) $ 0.545304 5.87%
mantle-staked-ether
Mantle Staked Ether (METH) $ 2,814.46 1.78%
worldcoin-wld
Worldcoin (WLD) $ 1.26 4.04%
usual-usd
Usual USD (USD0) $ 0.998803 0.12%
dexe
DeXe (DEXE) $ 19.71 3.44%
jasmycoin
JasmyCoin (JASMY) $ 0.022795 6.05%
solv-protocol-solvbtc-bbn
Solv Protocol SolvBTC.BBN (SOLVBTC.BB) $ 95,642.63 0.45%
sei-network
Sei (SEI) $ 0.231098 6.07%
msol
Marinade Staked SOL (MSOL) $ 255.34 4.32%
gala
GALA (GALA) $ 0.022413 7.37%
the-sandbox
The Sandbox (SAND) $ 0.392953 6.03%
floki
FLOKI (FLOKI) $ 0.000098 11.61%
tezos
Tezos (XTZ) $ 0.915569 9.58%
eos
EOS (EOS) $ 0.616213 5.69%
bittorrent
BitTorrent (BTT) $ 0.00000087206265 2.41%
Scroll to Top