Solana Co-Founder Sued Over Crypto Dispute

Stephen Akridge, co-founder of Solana and former principal engineer at Solana Labs, is facing a lawsuit from his ex-wife, Elisa Rossi, over allegations of secretly profiting from staking rewards tied to her Solana (SOL) tokens.

The lawsuit, filed in San Francisco’s Superior Court on December 24, claims Akridge earned “millions of dollars” from staking her SOL tokens without her knowledge, violating their March divorce agreement.

The Allegations

According to the complaint:

• Rossi and Akridge agreed to split ownership of their SOL tokens during the divorce.
• Rossi accuses Akridge of exploiting her lack of expertise in cryptocurrency to retain control of the tokens.
• Akridge allegedly granted Rossi wallet authority over the accounts but continued to stake her SOL tokens, earning significant rewards.

Rossi claims she discovered the deception in May 2024, several months after the staking rewards began accumulating.

Staking Rewards in Question

The lawsuit does not disclose the exact number of tokens or total value involved, but the sum is said to exceed $25,000, with references to “significant sums” in sealed filings.

SOL reached an all-time high of $263 last month and is trading at around $194, reflecting the blockchain’s growth amid the rising popularity of memecoins and other 2024 crypto trends.

Staking Explained:
Solana users can earn additional SOL by staking — locking up tokens to validate blockchain transactions in exchange for rewards. These rewards are at the core of Rossi’s claim against Akridge.

Communication Breakdown

The suit alleges that Rossi contacted Akridge at least a dozen times between May and December to discuss the staking rewards but received no resolution.

The complaint highlights a confrontational interaction:

“[Akridge] laughed in her face and said, ‘Good luck getting those staking rewards from me.’”

Current Status

• Akridge, now the CEO of Cyber Grant, has not publicly responded to the lawsuit.
• Cyber Grant has been contacted for comment, and no information about Akridge’s legal representation was available at the time of writing.

This high-profile lawsuit brings attention to the complexities of cryptocurrency ownership and disputes in divorce settlements. As Solana continues to thrive, the outcome of this case could set a precedent for how crypto assets are handled in personal and legal disputes.