Crypto Token Tied to Bankman-Fried Is Now Year’s Best Performer

Almost a year after the demise of Sam Bankman-Fried’s crypto empire, one of the blockchain projects most associated with the now disgraced entrepreneur is emerging from under the cloud his downfall cast over the digital-asset world.

Solana’s SOL token has surged about 340% to $41 in 2023, outdoing the 114% rally in market bellwether Bitcoin and becoming the best performing token among the largest cryptocurrencies tracked by Bloomberg. That follows a 94% drop last year as Bankman-Fried’s FTX and Alameda Research — two major backers of the project - collapsed into bankruptcy.

The token has doubled over the last 30-days ...