{"id":815257,"date":"2024-12-28T02:13:47","date_gmt":"2024-12-28T08:13:47","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/28\/solana-co-founder-stephen-akridge-accused-of-misappropriating-ex-wifes-crypto-gains\/"},"modified":"2024-12-28T02:13:47","modified_gmt":"2024-12-28T08:13:47","slug":"solana-co-founder-stephen-akridge-accused-of-misappropriating-ex-wifes-crypto-gains","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/28\/solana-co-founder-stephen-akridge-accused-of-misappropriating-ex-wifes-crypto-gains\/","title":{"rendered":"Solana co-founder Stephen Akridge accused of misappropriating ex-wife\u2019s crypto gains"},"content":{"rendered":"
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\"Solana Solana co-founder Stephen Akridge accused of misappropriating ex-wife\u2019s crypto gains<\/span> Gino Matos \u00b7<\/span> 1 hour ago<\/span> \u00b7 2 min read<\/span> <\/span> <\/span> <\/span> <\/span><\/p>\n

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Although the amount is not specified in the lawsuit, Stephen Akridge’s ex-wife claims it is “millions of dollars.”<\/p>\n

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2 min read<\/span><\/p>\n

Updated:<\/span> Dec. 27, 2024 at 10:17 pm UTC<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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\"Solana<\/p>\n

Cover art\/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.<\/p>\n<\/div>\n<\/div>\n

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\"Join<\/a><\/p>\n

Stephen Akridge, co-founder of Solana, is embroiled in a legal dispute with his ex-wife, Elisa Rossi, over alleged misappropriation of substantial gains from Solana (SOL<\/a>) tokens, Bloomberg News<\/span>\u00a0reported<\/a><\/strong> on Dec. 27.<\/span><\/p>\n

Rossi claims that Akridge used his advanced expertise in crypto and blockchain to siphon off staking rewards from her digital wallet.<\/span><\/p>\n

According to the complaint, Akridge\u2019s actions resulted in Rossi losing \u201cmillions of dollars\u201d in income. She further alleged that Akridge controlled her accounts from early March to mid-May and reaped 100% of the staking commissions allocated to her SOL holdings.<\/span><\/p>\n

While the exact value of the disputed tokens remains undisclosed, Rossi has described the sums as \u201csignificant\u201d and requested portions of the complaint be kept confidential. Solana Labs and attorneys representing Akridge and Rossi have not commented publicly.<\/span><\/p>\n

Akridge was a principal engineer at Solana and played a key role in developing the blockchain platform alongside co-founders Anatoly Yakovenko<\/a> and Raj Gokal. Before his involvement in Solana, Akridge worked at Qualcomm Inc. He is now the CEO of Cyber Grant, a California-based cybersecurity firm.<\/span><\/p>\n

The couple filed for divorce in February 2023 after a decade of marriage. Rossi\u2019s lawsuit alleges breach of contract, unjust enrichment, and fraud and seeks damages for the financial losses she claims to have incurred.<\/span><\/p>\n

Liquid staking growth on Solana<\/strong><\/h2>\n

According to different platforms, staking SOL tokens grants an annual percentage yield (APY) ranging from 5.6% to 12%.<\/span><\/p>\n

However, users boost their yields using liquid staking platforms, as the total value locked (TVL) on Jito<\/a> suggests. The protocol is the largest on Solana by TVL, approaching $2.7 billion per DefiLlama<\/span> data<\/a><\/strong>. The liquid staking market represents roughly 50% of Solana\u2019s entire TVL.<\/span><\/p>\n

Liquid staking gives the user a proxy token in the same amount allocated in staking, in addition to the platform\u2019s APY. As a result, the new token generated can be used on different decentralized finance protocols, boosting potential rewards.<\/span><\/p>\n

Mentioned in this article<\/h6>\n
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Read More<\/a>
\n Gino Matos<\/p>\n","protected":false},"excerpt":{"rendered":"

Solana co-founder Stephen Akridge accused of misappropriating ex-wife\u2019s crypto gains Gino Matos \u00b7 1 hour ago \u00b7 2 min read Although the amount is not specified in the lawsuit, Stephen Akridge’s ex-wife claims it is “millions of dollars.” 2 min read Updated: Dec. 27, 2024 at 10:17 pm UTC Cover art\/illustration via CryptoSlate. Image includes<\/p>\n","protected":false},"author":1,"featured_media":815258,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22836,47657],"tags":[],"class_list":{"0":"post-815257","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-co-founder","8":"category-solana"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/815257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=815257"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/815257\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/815258"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=815257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=815257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=815257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}