Solana's Major 5-Hour Outage; Treasury Secretary Janet Yellen Warns of Crypto Risks

The Solana network faces a new headache and a new chapter unfolds in FT X's bankruptcy. You're watching Coin Desk daily, I'm your host, Jen Sani Solana suffered a major outage on Tuesday. That's according to the network's system status page one network validator posted on X that core engineers have identified a fix and are building a new version for validators to upgrade validators are entities that utilize computing power to maintain a Blockchain and process transactions. The price of Salana native Token soul has fallen over 4% in the wake of the news. Court documents reveal that the estate for bankrupt crypto exchange. FTX wants to sell its shares of A I start up. Anthropic FTX owns nearly 8% of anthropic as of January and published reports say the state could be worth up to $1.4 billion based on the startup's massive valuation. The sale could help repay FTX creditors and a hearing on the matter may take place later this month. And US Treasury Secretary Janet Yellen is expected to tell congress that the crypto industry poses several possible hazards to the financial system. A brief portion of her testimony posted online shows that she will address the dangers of stablecoins runs on crypto platforms and volatile token prices. That's it for coin desk daily. Get more updates on coindesk.com and we'll see you next time.