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Solana News

Solana (SOL) was launched in 2020 by Anatoly Yakovenko as a high-performance blockchain designed to support thousands of transactions per second through its innovative Proof of History consensus mechanism combined with Proof of Stake. Built to compete directly with Ethereum, Solana offers developers fast transaction speeds and low fees, making it attractive for DeFi applications, NFT marketplaces, and Web3 gaming platforms.

The Solana ecosystem has rapidly expanded to include major DeFi protocols like Serum and Raydium, popular NFT collections, and gaming projects that leverage the network's speed and cost advantages. Despite experiencing several network outages that raised questions about decentralization and stability, Solana has maintained strong developer activity and institutional backing, with SOL serving as both a utility token for transaction fees and a staking asset for network security.

At CoinDesk, we cover comprehensive Solana news from protocol developments and network performance to the thriving NFT and DeFi ecosystems built on the platform. Our reporting tracks Solana's technical improvements, major partnerships, institutional adoption, and the ongoing efforts to address network reliability concerns while maintaining its competitive edge.

DISCLOSURE: This text was written with the assistance of AI, then reviewed by a person.

Solana News

Finance

Western Union eyeing stablecoin launch to settle global transactions without SWIFT, CEO says

The 175-year-old money-transfer firm also plans to issue a stablecoin-linked card for payments and cash-out options from crypto to local currencies, CEO Devin McGranahan said.

By Krisztian Sandor

A Western Union sign above a shop. (Shutterstock)

Tech

Solana developers outline plan to protect network from quantum threats

Two of the network’s core developer teams, Anza and Jump Crypto’s Firedancer, have landed on the same solution: a new type of digital signature called Falcon.

By Margaux Nijkerk

Quantum Computing Optics (Ben Wicks/Unsplash)

Markets

Fidelity Digital Assets says bitcoin is leading crypto market stabilization

Despite muted prices to start the second quarter, the report said improving onchain metrics and network activity point to a market finding its footing.

By Will Canny, AI Boost

Trading screen

Markets

Beaten-down digital asset treasury names lead crypto stock surge as bitcoin hits $78,000

Oil prices slumped as Trump said Iran committed to open the Strait of Hormuz and the U.S. plans to acquire that country's enriched uranium as part of a deal.

By Krisztian Sandor

CoinDesk

Tech

Wall Street trading-tech is coming to crypto as DoubleZero rolls out high-speed data for Solana

The project, called DoubleZero Edge, offers a real-time feed of raw data from the Solana blockchain, giving traders faster access to information that can influence prices.

By Margaux Nijkerk

Zapper adds NFT and DAO dashboards. (Shutterstock)

Finance

Drift gets $148 million funding from Tether and partners as it replaces Circle stablecoin with USDT after massive exploit

The money will be used by Drift to recover user funds after more than $270 million in clients assets were exploited this month, and will relaunch the protocol as a USDT-based perpetuals DEX on Solana.

By Will Canny

Tether CEO Paolo Ardoino (Nikhilesh De/CoinDesk)

Markets

Alameda moves $16 million in Solana's SOL token for possible creditor distribution

Alameda unstakes $16 million worth of Solana's SOL token, according to Arkham.

By Omkar Godbole

Caroline Ellison, the government's star witness in their case against FTX founder Sam Bankman-Fried, leaving court on Tuesday, Oct. 11 following her first day of testimony. (Danny Nelson/CoinDesk)

Tech

The Protocol: Bernstein says quantum threat to Bitcoin is real but manageable

Also: North Korea’s 6-month plot with Drift, Solana Foundation’s new ad and Alchemy AI.

By Margaux Nijkerk

(Planet Volumes-Unsplash/Modified by CoinDesk)

Tech

‘Don’t waste time with crypto': Here is what Solana Foundation's cryptic message really means

The foundation says it is becoming a leading network for “agentic payments.”

By Margaux Nijkerk

Solana ad in San Francisco, CA (Solana Foundation)

Tech

Solana Foundation unveils security overhaul days after $270 million Drift exploit

The program includes 24/7 threat monitoring for protocols with more than $10 million in deposits and a dedicated incident response network of security firms.

By Shaurya Malwa

(Solana logo)
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