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Solana co-founder Anatoly Yakovenko reflects on the fallout of FTX's failure and its initial impact on Solana ecosystem builders. The now-infamous collapse of FTX sent shockwaves through the broader cryptocurrency space in 2022, but the Solana ecosystem was particularly hard hit in the fallout.  Speaking exclusively to Cointelegraph at the latest edition of the Solana Breakpoint conference hosted in Amsterdam, Solana co-founder and CEO Anatoly Yakovenko recalls his concern for several projects that were building on the layer 1 smart contract blockchain protocol. “I was more worried about the ecosystem of start ups; we didn’t know how exposed teams were,” Yakovenko explains. Solana’s native token SOL saw a significant drop in value in the immediate wake of FTX’s bankruptcy, with its token trading at $36 in early Nov. 2022 before dropping as low as $12 in the days after the exchange’s collapse . Related: Sam Bankman-Fried found guilty on all 7 charges in FTX fraud trial Solana’s ...

The entertainment industry needs to evolve barriers between creators and the community, and this studio is offering it. The entertainment industry is known for its daunting barriers to entry, with a tiny group of studios and networks dominating the greenlighting process for content. Even when a project does launch, the actual talent involved in its creation rarely gets to claim any ownership of its success. As for the audience, fans have few ways to participate other than consuming content and buying merchandise. All in all, centralized platforms of the Web2 era failed to offer creator s truly direct ways to connect with their target audience. Despite taking the lion’s share of a $100 billion creator industry, leading content creation platforms are often criticized for unfavorable monetization and ownership models for creator s. As a result, many talented creatives are ultimately employees of their own creations. With a user-centric approach that gives power back to the people who u...

The ICF is also funding projects to drive Cosmos's adoption and use cases, including programs like the Interchain Developer Academy and Interchain Builders Program. According to a medium post on Feb. 20, the Interchain Foundation (ICF), a non-profit organization behind the creation of the Cosmos (ATOM) interblockchain communications (IBC) ecosystem, has committed to spending approximately $40 million in 2023 to develop its core infrastructure and applications. As a part of the Interchain Stack, which is utilized by around 50 blockchains, these include the Tendermint Core (and now CometBFT), Cosmos SDK, Cosmos Hub, and the IBC protocol. "Throughout the year, we envisage engaging other teams to deliver smaller, tightly defined tasks within each area of work. Such contracts will be to supplement the work of the teams mentioned below or in service of their needs that arise during the year." The ICF is also supporting the development of CosmWasm and Ethermint, the technologi...

Traders are piling into BONK, boosting its price by triple-digits in the last 24-hours and possibly hinting at a trend reversal in Solana price. Bonk, a meme token modeled after Shiba Inu (SHIB) that launched on Dec. 25, 2022, and some traders believe the token’s trading volume is potentially driving Solana (SOL) price up. Over the past 48-hours, SOL price has gained to 34% and Bonk is up 117% in the past 24-hours according to data from CoinMarketCap. While the wider crypto market remains suppressed, traders are hoping that Bonk could present new opportunities during the downturn.  According to the project’s website, Bonk is the first dog token on the Solana blockchain. Initially, 50% of the token supply was airdropped to Solana users with a mission to remove toxic Alameda-styled token economics. The airdrop resulted in more than $20 million in trading volume according to the Solana decentralized exchange, Orca. High yield returns Liquidity providers (LPs) stand to benefit from intera...