{"id":459214,"date":"2024-12-27T23:45:50","date_gmt":"2024-12-27T23:45:50","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=459214"},"modified":"2024-12-27T22:17:22","modified_gmt":"2024-12-27T22:17:22","slug":"solana-co-founder-stephen-akridge-accused-of-misappropriating-ex-wifes-crypto-gains","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/solana-co-founder-stephen-akridge-accused-of-misappropriating-ex-wifes-crypto-gains\/","title":{"rendered":"Solana co-founder Stephen Akridge accused of misappropriating ex-wife&#8217;s crypto gains"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Stephen Akridge, co-founder of Solana, is embroiled in a legal dispute with his ex-wife, Elisa Rossi, over alleged misappropriation of substantial gains from Solana (<a href=\"https:\/\/cryptoslate.com\/coins\/solana\/\">SOL<\/a>) tokens, Bloomberg News<\/span>\u00a0<strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-27\/solana-pioneer-sued-by-ex-wife-over-crypto-token-staking-gains\">reported<\/a><\/strong><span style=\"font-weight: 400;\"> on Dec. 27.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Rossi claims that Akridge used his advanced expertise in crypto and blockchain to siphon off staking rewards from her digital wallet.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to the complaint, Akridge's actions resulted in Rossi losing &#8220;millions of dollars&#8221; in income. She further alleged that Akridge controlled her accounts from early March to mid-May and reaped 100% of the staking commissions allocated to her SOL holdings.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While the exact value of the disputed tokens remains undisclosed, Rossi has described the sums as &#8220;significant&#8221; and requested portions of the complaint be kept confidential. Solana Labs and attorneys representing Akridge and Rossi have not commented publicly.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Akridge was a principal engineer at Solana and played a key role in developing the blockchain platform alongside co-founders <a href=\"https:\/\/cryptoslate.com\/people\/anatoly-yakovenko\/\">Anatoly Yakovenko<\/a> and Raj Gokal. Before his involvement in Solana, Akridge worked at Qualcomm Inc. He is now the CEO of Cyber Grant, a California-based cybersecurity firm.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The couple filed for divorce in February 2023 after a decade of marriage. Rossi\u2019s lawsuit alleges breach of contract, unjust enrichment, and fraud and seeks damages for the financial losses she claims to have incurred.<\/span><\/p>\n<h2><strong>Liquid staking growth on Solana<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">According to different platforms, staking SOL tokens grants an annual percentage yield (APY) ranging from 5.6% to 12%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, users boost their yields using liquid staking platforms, as the total value locked (TVL) on <a href=\"https:\/\/cryptoslate.com\/coins\/jito\/\">Jito<\/a> suggests. The protocol is the largest on Solana by TVL, approaching $2.7 billion per DefiLlama<\/span><strong><a href=\"https:\/\/defillama.com\/protocol\/jito\"> data<\/a><\/strong><span style=\"font-weight: 400;\">. The liquid staking market represents roughly 50% of Solana\u2019s entire TVL.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Liquid staking gives the user a proxy token in the same amount allocated in staking, in addition to the platform\u2019s APY. As a result, the new token generated can be used on different decentralized finance protocols, boosting potential rewards.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stephen Akridge, co-founder of Solana, is embroiled in a legal dispute with his ex-wife, Elisa Rossi, over alleged misappropriation of substantial gains from Solana (SOL) tokens, Bloomberg News\u00a0reported on Dec. 27. Rossi claims that Akridge used his advanced expertise in crypto and blockchain to siphon off staking rewards from her digital wallet. According to the [&hellip;]<\/p>\n","protected":false},"author":1511,"featured_media":454475,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,60793],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Solana co-founder Stephen Akridge accused of misappropriating ex-wife&#039;s crypto gains<\/title>\n<meta name=\"description\" content=\"Although the amount is not specified in the lawsuit, Stephen Akridge&#039;s ex-wife claims it is &quot;millions of dollars.&quot;\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/solana-co-founder-stephen-akridge-accused-of-misappropriating-ex-wifes-crypto-gains\/\" \/>\n<meta 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