Solana CEO Issues Apology: Key Insights on the Controversial Solana Advertisement
Anatoly Yakovenko, the CEO of Solana Labs, has finally addressed the contentious “America Is Back — Time to Accelerate” advertisement for Solana.
The advertisement faced significant criticism due to its political implications surrounding gender identity. Late yesterday evening (March 19), Yakovenko expressed on X, “The ad was bad, and it’s still gnawing at my soul.”
The ad was bad, and it’s still gnawing at my soul. I regret that I minimized it instead of stating it plainly – it was mean and targeted a marginalized community. I appreciate the ecosystem developers and artists who promptly recognized it for what it is both publicly and…
— toly
(@aeyakovenko) March 19, 2025
Controversial Solana Ad Remained Live For Nine Hours And Garnered Over 1.2 Million Views
Yakovenko commended those within the Solana ecosystem who criticized the “mess” that was shared on Solana’s X account. The post garnered approximately 1.2 million views and 1,300 comments prior to its removal about nine hours later.
The CEO of Solana Labs mentioned he would take this learning opportunity to keep Solana centered on open-source software development and decentralization while firmly avoiding “cultural wars.”
Solana has not issued an official statement on the issue, although its X account shared Yakovenko’s message to its 3.3 million followers. Yet, the dissemination of Anatoly’s statement likely indicates that the Solana Foundation aligns with his viewpoint.
The now-removed two-minute advertisement for the Solana Accelerate conference depicted a man portraying America in a therapy session who expressed he was contemplating “about innovation” like crypto asset.
In reply, the therapist suggested he should instead engage in “something more productive, like creating a new gender”, additionally indicating the man ought to “focus on pronouns.”
The man retorted, asserting he wished “to invent technologies, not genders.” The provocative Solana advertisement appeared nine days after Solana’s X account proclaimed: “Solana is for everyone.”
Given the backlash against the ad and the “Solana is for everyone” statement, the reaction has been somewhat surprising considering the crypto community is often perceived as adhering to more traditional views and generally dismissing the left’s emphasis on gender ideology.
SOL Remains Positive Despite Advertisement Controversy
The entire digital currency trading market has experienced a positive rebound following this week’s FOMC meeting, where it was indicated that there would be no modifications to current BPS rates. Nevertheless, many anticipated SOL would plummet after the fallout from the now-deleted advertisement.
This was not the case, as SOL has risen by approximately 2.5% in the last 24 hours. It is maintaining a steady position near $130 and appears poised to advance toward its next price ceiling level of $150.
The uptrend trend is being supported by announcement of a Solana ETF launching today (March 20). While it is not a spot ETF, Florida-based Market fluctuation Shares LLC is introducing funds to monitor SOL futures.
(SOURCE)
The Market fluctuation Shares Solana ETF (ticker SOLZ) will track Solana futures, while the Volatility Shares 2X Solana ETF (SOLT) will provide double the leveraged exposure.
Volatility Shares LLC is a nascent ETF firm, and its CEO Justin Young stated, “Our launch occurs amidst a time of renewed enthusiasm for digital currency innovation in the US. We believe the Trump administration recognizes the strategic necessity of preserving American leadership in financial technology.”
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Solana Labs CEO Anatoly Yakovenko Apologizes for the Controversial Advertisement
- The advertisement has since been removed, but was deemed discriminatory against the trans community
- SOL’s price remains unaffected and has increased by 2% on the day
- SOL’s price momentum is sustained by the launch of two Solana futures ETFs today (March 20)
The post Solana CEO Apologizes: Everything To Know About Controversial Solana Ad appeared first on 99Bitcoins.
