Legal Dispute Between Solana Co-Founder and Ex-Wife Over Alleged Misappropriation of SOL Tokens
Stephen Akridge, one of the co-founders of Solana, is currently facing a legal battle with his ex-wife, Elisa Rossi, concerning the alleged misappropriation of substantial gains from Solana (SOL) tokens, as reported by Bloomberg News on December 27th.
Rossi has accused Akridge of using his expertise in the crypto and blockchain space to divert staking rewards from her digital wallet. The complaint states that Akridge’s actions led to Rossi losing “millions of dollars” in income, with Akridge allegedly controlling her accounts between early March and mid-May, and keeping all staking commissions generated by her SOL holdings.
While the specific value of the disputed tokens has not been disclosed, Rossi has described them as “significant” and requested that certain details of the complaint remain confidential. Solana Labs, as well as the legal representatives of Akridge and Rossi, have refrained from making any public comments on the matter.
Akridge, who previously served as a principal engineer at Solana and played a crucial role in the platform’s development alongside other co-founders, is now the CEO of Cyber Grant, a cybersecurity firm based in California. The divorce proceedings between Akridge and Rossi began in February 2023 after a ten-year marriage, with Rossi’s lawsuit citing breach of contract, unjust enrichment, and fraud, and seeking compensation for the financial losses she alleges to have suffered.
Liquid Staking Growth and Opportunities on Solana
Staking SOL tokens on Solana can yield an annual percentage ranging from 5.6% to 12%, according to various platforms. However, users can enhance their returns by utilizing liquid staking platforms, as evidenced by the significant Total Value Locked (TVL) on Jito, which stands at around $2.7 billion based on DefiLlama data. Liquid staking currently constitutes approximately 50% of Solana’s total TVL.
By engaging in liquid staking, users receive proxy tokens equivalent to their staked amount, in addition to the platform’s APY. These new tokens can then be utilized across different decentralized finance protocols, thereby increasing the potential rewards for participants.
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