Austin Federa, head of strategy and communications at the Solana Foundation, said that despite the collapse of FTX, new users continue to join the network.
Facing fraud charges, Sam Bankman-Fried was a prominent advocate for Solana.
Solana Keeps Gaining Users
Speaking on the First Mover program on CoinDesk TV, Federa pointed out that despite the FTX collapse, the network’s on-chain activity has increased.
Sam Bankman-Fried, founder of the bankrupt FTX, was among the most prominent advocates of the Solana ecosystem. According to a blog post released by the foundation in November, FTX and Alameda Research have purchased SOL for more than $58 million.
Federa stated that this interest has helped and may have contributed to the rise of the network as Solana-based DeFi projects have left the ecosystem.
Federa pointed out that although NFT projects such as DeGods and Y00ts have left the network, new developers continue to be recruited.