Solana Faces Class Action Lawsuit Over Securities Laws Violations
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A bumpy year for Solana continues as Roche Freedman and Schneider Wallace Cottrell Konecky filed a class action lawsuit against the ecosystem and its developers (including Anatoly Yakovenko), Multicoin Capital Management, Kyle Samani and FalconX.

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Roche Freedman said in a press release that the defendants violated several sections of the California Corporations Code. According to the plaintiff, Solana developers and lobbyists promoted SOL and sold tokens to investors who have suffered losses from purchasing them. The case has been filed in the US District Court for the Northern District of California.

Coinbase Prime is Experiencing Problems Processing Transactions on Solana Network

Solana has been facing technical difficulties since the beginning of 2022. The network several times crashed and suffered from DDoS attacks. As an outcome of these unpleasant events, SOL price tanked significantly, losing almost 78% year-to-date. As of press time, SOL is trading at $38.8.

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