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Crypto Chaos: Why Solana’s Co-Founder Thinks You Should Panic (Just a Little!)

BBG News

In a recent social media post that probably had more drama than a soap opera, Yakovenko, the co-founder of Solana, emphasized the importance of quarterly “pre-rehearsals.” Yes, you heard that right! It’s like a dress rehearsal, but instead of a Broadway show, you’re stress-testing your business models against potential market crashes. 🎭💥 His advice comes at a time when crypto markets are experiencing renewed interest and inflows, but he believes this is exactly when complacency becomes as dangerous as a cat in a room full of rocking chairs.

Planning for Survival, Not Just Success

Yakovenko suggested that every crypto startup team should regularly ask themselves three critical questions, preferably while wearing a tinfoil hat:

  • Which products should remain a priority in a severe downturn? (Hint: Not your pet rock collection!)
  • What key competencies must the core team retain to survive and rebuild? (Like the ability to make coffee on a budget!)
  • Are there enough cash reserves to sustain operations for at least 18 months? (Because “winging it” is not a strategy!)

This survival-first mindset, he argues, can help teams stay grounded, avoid overextension, and navigate through inevitable bear cycles with clarity and control. Or at least with fewer panic attacks! 😅

“Victory” Narratives Could Be Premature

Yakovenko also addressed what he sees as a growing problem in the Solana ecosystem: celebratory narratives suggesting that the blockchain has already “won.” According to him, such attitudes are not only premature but potentially harmful—like celebrating a touchdown before the game is over! 🏈

He cautioned that despite recent milestones, there is still “a lot of work to do” to make Solana’s infrastructure and ecosystem more resilient and sustainable in the long term. So, put down the confetti, folks!

A Lesson from Past Cycles

Yakovenko’s warning reflects lessons learned from previous crypto market cycles, where overconfidence during bull markets often led to painful corrections. His call for disciplined scenario planning and conservative cash management echoes advice from traditional startup playbooks—tailored to the high-volatility world of Web3. Because who doesn’t love a good rollercoaster ride? 🎢

As Solana and other blockchain projects continue to scale, founders who take this advice seriously may be better positioned to emerge stronger from future storms. Or at least with fewer bruises! 🌪️

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2025-05-27 19:59

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