Solana CEO Issues Apology for Controversial Advert

Solana Labs CEO Anatoly Yakovenko has addressed the backlash surrounding the Solana advertisement titled “America Is Back — Time to Accelerate.” The ad faced significant criticism due to its political overtones related to gender identity. In a post on X, Yakovenko lamented, “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 am ashamed I downplayed it instead of just calling it what it is – mean and punching down on a marginalized group. I am grateful for the ecosystem devs and artists that immediately called it what it is both publicly and… — toly 🇺🇸 (@aeyakovenko) March 19, 2025.

Yakovenko acknowledged the outcry from the Solana community, commending those who quickly denounced the ad, which garnered over 1.2 million views and 1,300 comments before its removal after just nine hours. He reassured that moving forward, Solana will remain dedicated to open-source development and will avoid involving itself in cultural conflicts.

The controversial advertisement portrayed a fictional character representing America in a therapy session, who indicated that he was focused on technological advancements rather than gender discussions. This ad came out shortly after the controversial statement from Solana’s X account, declaring that “Solana is for everyone.” This juxtaposition raised eyebrows in a typically conservative crypto environment.

SOL Price Stability Despite Backlash

Despite fears that the ad might negatively impact the market, SOL has shown resilience, maintaining a 2.5% increase over the past 24 hours, trading around $130. The crypto market has shown a positive reaction following the recent FOMC meeting, where no changes to interest rates were announced. Furthermore, news of a Solana ETF set to launch is contributing to the optimistic outlook.

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Source: Volatility Shares LLC.