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Solana’s SOL Spiked 15% on a Suggestive Tweet From Google Cloud
“Should we tell our followers the big news?” Google Cloud tweeted an hour before revealing what it was doing with Solana.
The SOL native token for Solana surged about 15% after Google Cloud tagged the blockchain’s co-founder in a tweet that suggested an important disclosure was in the offing.
“Hey @aeyakovenko,” the cloud-services giant tweeted Saturday, “Should we tell our followers the big news?”
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Google Cloud an hour later – after SOL had leapt – tweeted what this was about: “Now that we got your attention ... check this out: Google Cloud is running a block-producing @solana validator to participate in and validate the network.”
While such a vague yet market-moving disclosure might not technically run afoul of financial regulations, it does raise the question of whether it’s OK to pump up the price of an asset with security-like qualities in this manner.
Solana, which has so far not lived up to the hype that it’s an industrial-grade blockchain well-suited for modern finance, is undergoing an infrastructure overhaul overseen by Jump Crypto.
Read more: Jump Crypto Picked to Revamp Solana to Make Blockchain More Reliable
Nick Baker
Nick Baker was CoinDesk's deputy editor-in-chief. He won a Loeb Award for editing CoinDesk's coverage of FTX's Sam Bankman-Fried, including Ian Allison's scoop that caused SBF's empire to collapse. Before joining in 2022, he worked at Bloomberg News for 16 years as a reporter, editor and manager. Previously, he was a reporter at Dow Jones Newswires, wrote for The Wall Street Journal and earned a journalism degree from Ohio University. He owns more than $1,000 of BTC and SOL.
