Solana-based Metaplex lays off staff following FTX collapse

NFT protocol Metaplex is laying off staff due to to the "indirect impact" of the FTX collapse. The post Solana-based Metaplex lays off staff following FTX collapse appeared first on The Block.

Timeline of Metaplex, Solana

The latest Solana price analysis shows a strong downtrend for the cryptocurrency today, as the coin value underwent a noticeable reduction. The ongoing decreasing trend has lowered the cryptocurrency value to a $13.35 low.

Metaplex is the latest company to be affected by FTX's contagion as it laid of several employees. However, the protocol claims to have no direct exposure to the bankrupt crypto exchange.

Over the last 24 hours, the cryptocurrency market cap saw net inflows of around $8 billion and currently stands at $836.19 billion as of press time — up 0.98% from $828.16 billion on November 17. The post CryptoSlate Daily wMarket Update – Nov. 17: Solana prints losses in mute market performance appeared first on CryptoSlate.

Binance announced suspension of USDT and USDC (SOL) till further notice; OKX followed suit On the contrary, Kraken announced support for the tokens According to statements released by OKX, Binance, and ByBit, some Solana blockchain tokens may be delisted. No justifications were provided for this move and no mention of re-listing them was made either.

Multiple exchanges disabled deposits and withdrawals for Solana-based Tether  (CRYPTO: USDT) and USD Coin (CRYPTO: USDC) on Thursday. What Happened: Tether, in a blog post, said, “the move to suspend USDT deposits on these exchanges is likely just due to the heavy connections between FTX (CRYPTO: FTT), Alameda, and Solana (CRYPTO: SOL).

Besides the Ethereum network, users can now deposit and withdraw USD Coin on Solana and Tron, according to a Twitter post by Bill King, Growth Marketing Lead. The support for these two networks is already live.

Binance and other top crypto exchanges halted stablecoin deposits from the Solana (SOL) blockchain. The companies released an official statement claiming that the measure will be temporary, but it could have harmful implications for the SOL ecosystem.

There is a sharp drop in Solana (SOL) price as exchanges suspend deposits of stablecoins on the Solana network. The post SOL Price Freefalls as Crypto Exchanges Suspend USDT, USDC Transfers on Solana appeared first on BeInCrypto.

Cryptocurrency exchange Binance on Thursday temporarily suspended deposits of the stablecoins USDC (CRYPTO: USDC) and USDT (CRYPTO: USDT) on the Solana blockchain "until further notice," but resumed a few hours later. "After internal assessment and review, Binance has now resumed deposits for USDT (SOL)," the company stated in its official blog post.

Solana (SOL) was one of the hardest hit blockchains by the FTX collapse. Even now, more than a week after the initial bankruptcy, SOL continues to buckle under the weight of uncertainty left among its users and investors given Sam Bankman-Fried's (SBF) heavy involvement in the Solana blockchain.