Stephen Akridge, co-founder of Solana, is facing a lawsuit from his ex-wife, Elisa Rossi, who claims that he misappropriated millions of dollars in cryptocurrency income from her digital wallet. The legal battle, filed in San Francisco Superior Court, accuses Akridge of exploiting Rossi’s lack of technical knowledge to take control of her Solana staking rewards.
Allegations of Staking Rewards Theft
Rossi alleges that between March and May 2023, Akridge redirected all of her staking commissions from her Solana holdings for his personal gain. Staking, a process in which cryptocurrency is pledged to validate blockchain transactions, generates additional tokens as rewards. The lawsuit claims that Akridge exploited his technical expertise to unlawfully control these rewards, which were meant for Rossi’s benefit.
The lawsuit comes after the couple’s divorce in February 2023, following a decade of marriage. Rossi is seeking damages for breach of contract, unjust enrichment, and fraud. Akridge, who previously worked at Qualcomm Inc., co-founded Solana alongside Anatoly Yakovenko and Raj Gokal. His role as principal engineer has been instrumental in Solana’s development.
DIVORCE GONE CRYPTO: SOLANA CO-FOUNDER HIDES STAKING REWARDS
— Mario Nawfal’s Roundtable (@RoundtableSpace) December 27, 2024
Drama alert! Elisa Rossi says her ex-hubby Stephen Akridge kept millions in Solana staking rewards.
The kicker? He allegedly laughed and said, “Good luck getting those rewards!”
She’s now taking him to court.… pic.twitter.com/0FwrL1rW28
Crypto Staking Disputes on the Rise
This legal dispute isn’t the first of its kind. Earlier this year, investor Joshua Jarrett filed a lawsuit against the IRS, arguing that crypto staking rewards should be classified as new property, not taxable income. The increasing number of crypto-related legal cases highlights the growing complexities of digital asset management.
Despite the legal troubles, Solana has experienced significant growth. The altcoin saw a massive recovery after the FTX collapse, rising over 70% in 2024 and reaching an all-time high of $263 in November. This growth has been largely driven by increased transaction activity, particularly within the meme coin sector.
Also Read: Is Solana (SOL) Set for a Further Drop? Derivatives Data Suggest Limited Downside
As crypto-related legal battles continue to gain traction, these cases serve as a reminder of the challenges and risks involved in the emerging digital economy.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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