Solana co-founder Akridge is involved in a legal dispute with his ex-wife, Elisa Rossi, over claims of financial misconduct. Bloomberg News reported on December 27 that Rossi accuses Akridge of misappropriating significant gains from Solana (SOL) tokens.
Allegations of Staking Rewards Misuse
Rossi claims Akridge used his crypto and blockchain expertise to steal staking rewards from her digital wallet. The complaint says Akridge’s actions led to Rossi losing “millions of dollars.” She alleges that he controlled her accounts from March to mid-May, taking 100% of the staking rewards meant for her SOL holdings.
Rossi has not disclosed the exact value of the tokens but calls the sums “significant.” She has requested some parts of the complaint remain confidential. Solana Labs and the attorneys for both Akridge and Rossi have not publicly commented on the case.
Akridge’s Role in Solana’s Development
Akridge worked as a principal engineer at Solana and helped develop the blockchain platform alongside co-founders Anatoly Yakovenko and Raj Gokal. Before joining Solana, Akridge worked at Qualcomm Inc. He is now the CEO of Cyber Grant, a cybersecurity firm in California.
The couple filed for divorce in February 2023 after 10 years of marriage. Rossi’s lawsuit accuses Akridge of breach of contract, unjust enrichment, and fraud. She seeks damages for the financial losses she claims to have suffered.
Growth of Liquid Staking on Solana
Staking SOL tokens on various platforms offers annual percentage yields (APY) between 5.6% and 12%. Users can increase these yields with liquid staking platforms. DefiLlama data shows that Jito, Solana’s largest liquid staking protocol, has nearly $2.7 billion in total value locked (TVL). This represents about 50% of Solana’s total TVL.
Liquid staking provides users with proxy tokens equivalent to their staking amount. They can also earn the platform’s APY. These new tokens can be used in decentralized finance (DeFi) protocols, further boosting potential rewards.
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