{"id":31952,"date":"2023-11-06T08:52:54","date_gmt":"2023-11-06T12:52:54","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=31952"},"modified":"2023-11-06T08:52:54","modified_gmt":"2023-11-06T12:52:54","slug":"elon-musks-cousin-among-first-investors-in-solana-expert-reveals","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/06\/elon-musks-cousin-among-first-investors-in-solana-expert-reveals\/","title":{"rendered":"Elon Musk\u2019s Cousin Among First Investors In Solana: Expert Reveals"},"content":{"rendered":"

A recent social media post<\/a> by crypto pundit MartyParty has sparked renewed interest in the early investment patterns surrounding Solana. This interest centers around the revelation that Lyndon Rive, a cousin of Elon Musk, was among the first investors in Solana, a fact that has largely flown under the radar since Rive\u2019s announcement on July 30, 2019.<\/p>\n

\u201cWhy is Elon Musk\u2019s cousin Lyndon Rive one of the first investors in Solana. Rive is a cousin of Elon Musk as their mothers are twin sisters,\u201d Marty remarked.<\/p>\n

The Story Of Solana And Elon Musk\u2019s Cousin<\/h2>\n

Lyndon Rive, better known as the co-founder of SolarCity and cousin to tech mogul Elon Musk, has maintained a lower profile compared to his renowned relative. Despite their familial ties, Rive\u2019s investment trajectory has diverged notably from Musk\u2019s, especially after Rive left SolarCity following its acquisition by Tesla in 2016.<\/p>\n

In July 2019, Rive invested in Solana Labs, the company behind the SOL blockchain. The project, launched in 2018, is distinguished by its use of a Proof of Stake consensus mechanism, which aligns with the growing interest in more energy-efficient blockchain technologies.<\/p>\n

While Rive\u2019s participation in the Series A funding of Solana was not singularly significant, it was part of a crucial $20 million funding round that helped kickstart the project. Subsequent investments by entities like CoinList and MXC Exchange bolstered Solana\u2019s growth, cumulatively raising an additional $40 million.<\/p>\n

The connection between Rive\u2019s investment in Solana and Musk\u2019s stance on SOL remains unclear. Elon Musk is widely recognized<\/a> for his enthusiasm for Dogecoin, often expressing support for the meme coin. Additionally, Tesla, under Musk\u2019s leadership, has included<\/a> Bitcoin as part of its corporate balance sheet.<\/p>\n

However, Solana was never mentioned by Musk. Notably, after Tesla ceased accepting Bitcoin in May 2021 citing environmental concerns, the Solana Foundation reached out to Musk via Twitter, answering<\/a> \u201cdms are open\u201d. Musk has never responded publicly, suggesting that there is no official connection between Musk and Solana despite his cousin\u2019s investment.<\/p>\n

The intrigue deepens with the parallel choices of Musk and Solana\u2019s co-founder, Anatoly Yakovenko, in favoring the Rust programming language for their respective projects, xAI and SOL. xAI\u2019s recent announcement lauds Rust for its robustness and reliability, essential for scalable and maintainable infrastructure. Crypto expert Joe McCann commented<\/a>: \u201cElon Musk chooses Rust for xAI. Anatoly Yakovenko chose Rust for Solana.\u201d<\/p>\n

In conclusion, while Rive\u2019s early investment in Solana is a notable piece of the platform\u2019s history, the extent of his influence or any indirect connection to Musk remains speculative. Nevertheless, it is a story to keep in mind.<\/p>\n

SOL Prize Takes A Break<\/h2>\n

At press time, SOL was trading just below $40 and was undergoing a retest after the price broke out of the trading range post the FTX crash last week. A daily close above $38.76 could be crucial to establish a new range and possibly target the 1,618 Fibonacci extension level at $57.85.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

A recent social media post<\/a> by crypto pundit MartyParty has sparked renewed interest in the early investment patterns surrounding Solana. This interest centers around the revelation that Lyndon Rive, a cousin of Elon Musk, was among the first investors in Solana, a fact that has largely flown under the radar since Rive\u2019s announcement on July 30, 2019.<\/p>\n

\u201cWhy is Elon Musk\u2019s cousin Lyndon Rive one of the first investors in Solana. Rive is a cousin of Elon Musk as their mothers are twin sisters,\u201d Marty remarked.<\/p>\n

The Story Of Solana And Elon Musk\u2019s Cousin<\/h2>\n

Lyndon Rive, better known as the co-founder of SolarCity and cousin to tech mogul Elon Musk, has maintained a lower profile compared to his renowned relative. Despite their familial ties, Rive\u2019s investment trajectory has diverged notably from Musk\u2019s, especially after Rive left SolarCity following its acquisition by Tesla in 2016.<\/p>\n

In July 2019, Rive invested in Solana Labs, the company behind the SOL blockchain. The project, launched in 2018, is distinguished by its use of a Proof of Stake consensus mechanism, which aligns with the growing interest in more energy-efficient blockchain technologies.<\/p>\n

While Rive\u2019s participation in the Series A funding of Solana was not singularly significant, it was part of a crucial $20 million funding round that helped kickstart the project. Subsequent investments by entities like CoinList and MXC Exchange bolstered Solana\u2019s growth, cumulatively raising an additional $40 million.<\/p>\n

The connection between Rive\u2019s investment in Solana and Musk\u2019s stance on SOL remains unclear. Elon Musk is widely recognized<\/a> for his enthusiasm for Dogecoin, often expressing support for the meme coin. Additionally, Tesla, under Musk\u2019s leadership, has included<\/a> Bitcoin as part of its corporate balance sheet.<\/p>\n

However, Solana was never mentioned by Musk. Notably, after Tesla ceased accepting Bitcoin in May 2021 citing environmental concerns, the Solana Foundation reached out to Musk via Twitter, answering<\/a> \u201cdms are open\u201d. Musk has never responded publicly, suggesting that there is no official connection between Musk and Solana despite his cousin\u2019s investment.<\/p>\n

The intrigue deepens with the parallel choices of Musk and Solana\u2019s co-founder, Anatoly Yakovenko, in favoring the Rust programming language for their respective projects, xAI and SOL. xAI\u2019s recent announcement lauds Rust for its robustness and reliability, essential for scalable and maintainable infrastructure. Crypto expert Joe McCann commented<\/a>: \u201cElon Musk chooses Rust for xAI. Anatoly Yakovenko chose Rust for Solana.\u201d<\/p>\n

In conclusion, while Rive\u2019s early investment in Solana is a notable piece of the platform\u2019s history, the extent of his influence or any indirect connection to Musk remains speculative. Nevertheless, it is a story to keep in mind.<\/p>\n

SOL Prize Takes A Break<\/h2>\n

At press time, SOL was trading just below $40 and was undergoing a retest after the price broke out of the trading range post the FTX crash last week. A daily close above $38.76 could be crucial to establish a new range and possibly target the 1,618 Fibonacci extension level at $57.85.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-31952","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31952","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=31952"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31952\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=31952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=31952"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=31952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}