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Hype does not equal moat: Solana's Wall Street story is hard to tell. By: foresightnews.pro | 10/29/2026 11:15:49 Survived FTX, but struggles to shake off meme dependency. As the most actively traded blockchain globally, one would expect Solana to easily impress Wall Street, but its story is far from simple. Much of its early notoriety was built on various meme coins and tokens riding the wave of Trump's popularity. This public chain received early investments from Sam Bankman-Fried (SBF) and was once seen as the next big opportunity in the crypto industry. In 2022, SBF's FTX exchange collapsed, but Solana weathered the crisis and returned to market visibility, heavily reliant on speculative trading driven by meme coins. In recent weeks, the demand for Solana's native token SOL (one of the few surviving "Sam Coins" that received SBF's funding) has continued to weaken, with a year-to-date decline nearing 20%. Meanwhile, the SOL spot and staking ETFs listed in the U.S. recorded a total outflow of $50 million over the past two weeks. Digital asset management firm SkyAI also liquidated all its SOL holdings this month, abandoning its original positioning to fully pivot towards the AI sector. "The biggest risk is mistakenly believing that current trading hype guarantees long-term competitiveness," said Michael Weisz, CEO of the Solana-based lending platform Kamino. Solana ranks at the bottom among leading cryptocurrencies As Wall Street continues to increase its investment in the crypto space, the industry's focus is shifting towards more traditional financial applications like stablecoins and tokenized real assets. While Solana's long-term investment value remains contentious, it is actively positioning itself in this arena and has made some progress in tokenized stock scenarios. The overall downturn in the crypto market has further amplified its challenges. Following a brief surge after Trump's election, coin prices have continued to decline, with most tokens struggling to recover their losses. Some speculative funds have shifted to chase AI-related returns, while a new wave of emerging public chains in vertical sectors has risen to compete with Solana. The Solana Foundation, a non-profit organization based in Zug, Switzerland, supporting the network's development, stated that transformation efforts are underway. Foundation chair Lily Liu noted that the institution's on-chain transfer of real funds and physical assets has become the fastest-growing business for the chain. She added that Solana's fast network and low fees are sufficient to support large-scale global payments and capital market operations. When it launched six years ago, Solana's core selling point was its speed and lower costs compared to competitors (especially Ethereum). However, this characteristic also made it inherently suitable for speculative trading, which remains its primary source of revenue today. Lucas Tcheyan, Vice President of Research at Galaxy Digital, pointed out, "Compared to Ethereum, Solana's fee revenue is more dependent on speculative trading, and the decline from its 2025 peak is also more significant." He also mentioned that Solana's current goal is to encourage users to migrate more financial activities on-chain, covering scenarios like trading, saving, and payments. The ecosystem of this public chain is diversifying. A report from Galaxy Research shows that the proportion of meme coin trading volume has dropped from over 50% at the end of 2024 to 15%-20% in the second quarter of this year. The Solana Foundation reported that major financial institutions like JPMorgan, Morgan Stanley, and Standard Chartered are now conducting business on the network. Leading payment service providers like Visa and Fiserv have also chosen Solana. Western Union issued the USDPT stablecoin on the Solana chain in May this year. However, recently, the business Solana aims to capture is increasingly being siphoned off by competitors. Hyperliquid has become a popular platform for on-chain perpetual contracts. These contracts have no expiration date, allowing traders to bet on the price movements of cryptocurrencies, stocks, and commodities. According to Tcheyan's data, after Hyperliquid issued its HYPE token, Solana's share of on-chain perpetual contract trading volume dropped from 17% to 6% within a year. On the other hand, Ethereum remains the foundational cornerstone of decentralized finance. Robinhood Chain and Base, launched by Coinbase, are both built on Ethereum's layer two network; Stripe, in collaboration with Paradigm, incubated Tempo, and Binance's BNB Chain is an independent public chain compatible with the Ethereum ecosystem. Solana itself is also continuously iterating. On October 21, the network completed the Alpenglow upgrade, further enhancing transaction speed. However, the value of technical optimizations can only be realized when they retain users and liquidity during a bear market. Weisz stated, "Growth will only truly reverse when quality assets, developers, and customers choose to leave for better experiences on other platforms." Skyai price. -10.60% Past 30 days Skyai is currently trading at 0.0361 USD. Over the past 30 days, Skyai has fallen 10.60%. Learn more about Skyai. This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. 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Fiserv appoints Raj Seshadri to Board of Directors. October 23, 2026 MILWAUKEE, Oct. 23, 2026 (GLOBE NEWSWIRE) - Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, today announced that Raj Seshadri will join the Fiserv Board of Directors effective November 30, 2026. The Company also announced that Henrique De Castro would not seek reelection to the Board at the Company's annual meeting of shareholders in 2027. Seshadri currently serves as Senior Strategic Advisor to the Chief Executive Officer of Mastercard Inc. where she advises on emerging strategic priorities. Over her more than a decade career at Mastercard, Seshadri served as Chief Commercial Payments Officer, leading one of Mastercard's largest growth businesses encompassing commercial cards, B2B accounts payable and receivable solutions, bill payments, remittances, and disbursements. Before leading Commercial Payments, Seshadri served as President of Mastercard's Data & Services business, overseeing a global portfolio of analytics, insights, loyalty, cybersecurity, and innovation solutions. She also served as President of U.S. Issuers, where she led relationships with many of the nation's largest financial institutions. Seshadri has also held numerous senior leadership positions at BlackRock, Citigroup, U.S. Trust, and McKinsey & Company. She currently serves on the Board of Directors of Raymond James Financial, Inc. "Raj is a highly respected financial services and payments leader whose career has been defined by driving growth, innovation, and strategic transformation across banking, payments, and data analytics," said Gordon Nixon, Chairman of the Board of Directors. "As we continue to accelerate innovation at the intersection of banking, and commerce, Raj's insights and perspective will be a tremendous asset to Fiserv and our Board." Nixon concluded, "We are grateful to Henrique for his service on the Board and his lasting contributions. We thank him for his thoughtful counsel over many years." Seshadri's appointment is consistent with the Board's ongoing commitment to having the right mix of skills to advance Fiserv's strategy and further enhances the Board's collective expertise as Fiserv unites commerce and finance, powering sustained growth and innovation at scale for financial institutions and businesses around the world. About Fiserv Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, is a global leader uniting commerce and finance. The company powers sustained growth and innovation at scale for financial institutions and businesses worldwide across payments, account processing, digital banking, merchant acquiring, network services, e-commerce, and Clover(R), the all-in-one business management platform. Fiserv is a member of the S&P 500(R) Index and one of FORTUNE(R) America's Most Innovative Companies. Visit fiserv.com and follow on social media for more information and the latest company news. | Media Relations: Melissa Moritz Vice President, Communications Fiserv, Inc. [email protected] | Additional Contact: Walter Pritchard SVP, Investor Relations Fiserv, Inc. [email protected] |

Verisave names former Fiserv exec Chris Lefebvre CEO. Verisave taps former Fiserv executive Chris Lefebvre as CEO to lead its next phase of merchant payment optimization and cost-reduction services. Curated by Financing Your Way from original reporting by Finextra - Lending. Summary is AI-assisted and editorially reviewed - see its editorial standards. Merchant payment optimization firm Verisave has appointed Chris Lefebvre, a former senior executive at Fiserv, as its new CEO. For retailers and service providers, this leadership change at a major cost-reduction firm signals a push for more aggressive growth in the payment processing space. Verisave specializes in auditing merchant statements to uncover hidden fees and negotiate better rates with processors. Lefebvre's background at Fiserv, a global leader in payments and fintech, suggests that Verisave may be looking to expand its footprint or introduce new technological tools to help merchants lower their overhead. As consumer financing and BNPL options become more complex, the backend costs of processing those payments often creep upward. A leadership shift of this caliber usually precedes new service offerings or improved auditing capabilities that could help you recover lost margins. If you have been struggling with rising transaction fees or lack of transparency in your merchant statements, this move indicates that the optimization market is becoming more competitive and sophisticated. Keep an eye on how this shift might impact your ability to negotiate better terms with your current payment stack. Who else is covering this