Solana co-founder Stephen Akridge is being sued for allegedly manipulating and taking millions of dollars from his ex-wife’s bonuses. Elisa Rossi The case was filed in San Francisco Superior Court, alleging that Akridge used his technical knowledge of digital assets and blockchain to extract profits from her Solana properties.
Stake is a popular crypto process where users lock up their digital assets to validate transactions in exchange for returns. Rossi also argued that Akridge operated its own staking accounts She was valued in the millions without permission and collected all the rewards.
The case is currently pending in a San Francisco court. Akridge faces five charges: Breach of contractimplied covenant of good faith and fair dealing, unjust enrichment, breach of fiduciary duty, and fraud.
INTEL: Solana co-founder Stephen Akridge is facing a lawsuit from his ex-wife Elisa Rossi, who claims he stole “millions” in her SOL rewards. Claims include breach of contract, unjust enrichment, and fraud
— Solid Intel 📡 (@solidintel_x) December 28, 2024
The ex-wife says Akridge used his skills to commit fraud
The couple married on March 8, 2013, while Akridge was working with Qualcomm. Five years later, Akridge was hired by his colleague, Anatoly Yakovenko, to start a cryptocurrency company that became Solana Labs. The couple ended their 10-year marriage by filing for divorce in February 2023.
As founders, they developed the Solana blockchain promise to accelerate and decentralize transactions. Rossi claimed that Akridge used his blockchain expertise to control her holdings of digital assets. While Rossi did not specify the total losses, she claimed that the amount lost was “significant.”
Rossi alleged in the lawsuit that she contacted Akridge, but the defendant refused to answer several inquiries and made it clear that he had no intention of returning the money. She added that Akridge laughed in her face and told her not to expect the return of her accumulated profits.
Solana is on the rise
Rossi’s complaint comes at a time when… Solana price He started to recover. Blockchain technology has a rough history after its launch in 2017. Right after its launch, the project impressed many with its proof-of-date consensus mechanism and fast transactions. Solana’s speed and efficiency make it a competitor to Ethereum, especially in DeFi and NFTs.
However, Solana’s rise has been marred by controversy, including his links to Sam Bankman Fried’s Alameda research. At the height of the FTX controversy, SOL’s price fell to $10, but has since recovered and is trading above $170 in December of this year. Given the recent rebound in SOL prices, Rossi’s alleged lost bounties could be worth millions.
So, what happens after the rift between Akridge and Rousey?
The case is pending in San Francisco Superior Court, and neither Akridge nor even Solana’s team have commented on the case publicly yet. Akridge currently serves as CEO of Cyber Grant Inc.
Although the case is still pending, this issue continues to impact Akridge’s standing in the cryptocurrency sector.
Featured image from DALL-E, chart from TradingView
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