Why is There a Connection Between Solana, FTX, and Sam Bankman-Fried?

Ten months after the FTX collapse, new developments continue to rattle the crypto market

FTX recently gained court approval to liquidate $3.4 billion in BTC, ETH, and insider-affiliated tokens, causing confusion and panic among investors

Things take a surprising turn as FTX sues its former CEO's parents, Joseph and Barbara Bankman, on fraud allegations, aiming to recover millions of dollars

FTX alleges that Bankman and Fried enriched themselves by misappropriating funds, a breach of fiduciary obligations, and other misconduct

Despite FTX's troubles, Solana (SOL) has shown resilience. SOL's price is up 1.04% in the last 24 hours and almost 10% in the last week

Solana's long/short ratio is 1.04, indicating strong buyer interest. Major exchanges are seeing a surge in SOL buyers.