🚀🦎 Solana hit by a Solar flare? 🔆

Monday, February 27, 2023

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Gone are the green days?

The Solana network continues to face a slowdown in block production after an upgrade in the validator software on February 25.

What started as sluggish transaction processing, have spiraled into a near complete shutdown of activity on Solana. Validators are currently working with developers at Solana Labs in order to restart the chain. In today's news, CoinFLEX wants its money back, Dapper Lab lays off more employees, and FTX Japan users withdraw funds.

Read on!

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Repay us?

Embattled crypto exchange CoinFLEX has alleged that Blockchain.com owes them $4.3 million of FLEX coins.

Blockchain.com has denied these accusations, having said the claim is "completely meritless and a work of fiction from an insolvent company currently being sued by its customers for dissolution."

Recently, it was announced by Su Zhu, co-founder of 3AC, that the FLEX token would be the primary token on his new venture, Open Exchange (OPNX).

Decrypt

Another round

Dapper Labs has laid off 20% of its staff, in a bid to restructure the company. Founder and CEO Roham Gharegozlou stated that the restructuring is being done to "improve our focus and efficiency, strengthening our position in the market and better serving our communities."

This is the second round of layoffs at the organization, with a 22% cut having been done in November. In the past two years, headcount at Dapper ballooned from 100 to 600 employees.

Decrypt

The Lucky Few

Users of FTX Japan are now able to withdraw their assets from the exchange.

Back on 15 November, the crypto exchange halted withdrawals alongside FTX Global and its subsidiaries. However, it has since received the greenlight to resume withdrawals, and has seen over 6.6 billion yen ($50 million) withdrawn.

Cointelegraph