{"id":559265,"date":"2023-11-06T08:15:42","date_gmt":"2023-11-06T08:15:42","guid":{"rendered":"https:\/\/ktsl888.com\/?p=559265"},"modified":"2023-11-06T08:15:09","modified_gmt":"2023-11-06T08:15:09","slug":"elon-musk-cousin-first-investors-solana","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/solana\/elon-musk-cousin-first-investors-solana\/","title":{"rendered":"Elon Musk\u2019s Cousin Among First Investors In Solana: Expert Reveals"},"content":{"rendered":"<p>A recent social media <a href=\"https:\/\/twitter.com\/martypartymusic\/status\/27159069\" target=\"_blank\" rel=\"noopener nofollow\">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<p>&#8220;Why 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,&#8221; Marty remarked.<\/p>\n<h2>The Story Of Solana And Elon Musk&#8217;s Cousin<\/h2>\n<p>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<p>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<p>While Rive&#8217;s 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&#8217;s growth, cumulatively raising an additional $40 million.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/fantom\/fantom-explode-like-solana-analyst-bullish\/\"> Is Fantom (FTM) About To Explode Like Solana (SOL)? This Analyst Thinks So<\/a><\/div>\n<p>The connection between Rive&#8217;s investment in Solana and Musk\u2019s stance on SOL remains unclear. Elon Musk is widely <a href=\"https:\/\/ktsl888.com\/news\/dogecoin\/elon-musk-biography-dogecoin\/\" target=\"_blank\" rel=\"noopener \">recognized<\/a> for his enthusiasm for Dogecoin, often expressing support for the meme coin. Additionally, Tesla, under Musk&#8217;s leadership, has <a href=\"https:\/\/ktsl888.com\/breaking-news-ticker\/breaking-no-bitcoin-sale-from-tesla-electric-car-giant-holds-on-as-btc-bounces-back-to-30000\/\" target=\"_blank\" rel=\"noopener \">included<\/a> Bitcoin as part of its corporate balance sheet.<\/p>\n<p>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, <a href=\"https:\/\/twitter.com\/solana\/status\/78516741\" target=\"_blank\" rel=\"noopener nofollow\">answering<\/a> &#8220;dms are open&#8221;. Musk has never responded publicly, suggesting that there is no official connection between Musk and Solana despite his cousin&#8217;s investment.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/solana\/solana-prices-70-rally-persuades-detractor-arthur-hayes-makes-confession\/\" target=\"_blank\" rel=\"noopener \">Solana Price\u2019s 70% Rally Persuades Detractor, Arthur Hayes Makes Confession<\/a><\/div>\n<p>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 <a href=\"https:\/\/twitter.com\/joemccann\/status\/66322580\" target=\"_blank\" rel=\"noopener nofollow\">commented<\/a>: \u201cElon Musk chooses Rust for xAI. Anatoly Yakovenko chose Rust for Solana.\u201d<\/p>\n<p>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<h2>SOL Prize Takes A Break<\/h2>\n<p>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<figure id=\"attachment_559268\" aria-describedby=\"caption-attachment-559268\" style=\"width: 3628px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-559268 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/11\/SOLUSD_2023-11-06_08-59-07.png?resize=3628%2C1673\" alt=\"Solana price\" width=\"3628\" height=\"1673\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/11\/SOLUSD_2023-11-06_08-59-07.png?w=3628 3628w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/11\/SOLUSD_2023-11-06_08-59-07.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/11\/SOLUSD_2023-11-06_08-59-07.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/11\/SOLUSD_2023-11-06_08-59-07.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/11\/SOLUSD_2023-11-06_08-59-07.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/11\/SOLUSD_2023-11-06_08-59-07.png?w=2048 2048w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/11\/SOLUSD_2023-11-06_08-59-07.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/11\/SOLUSD_2023-11-06_08-59-07.png?w=1140 1140w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/11\/SOLUSD_2023-11-06_08-59-07.png?w=3000 3000w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-559268\" class=\"wp-caption-text\">Solana price, 1-day chart | Source:<a href=\"https:\/\/www.tradingview.com\/x\/jZmHPasu\/\" target=\"_blank\" rel=\"noopener nofollow\"> SOLUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image from Business Insider, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A recent social media post 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. &#8220;Why 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,&#8221; Marty remarked. The Story Of Solana And Elon Musk&#8217;s Cousin 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. 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. While Rive&#8217;s 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&#8217;s growth, cumulatively raising an additional $40 million. Related Reading: Is Fantom (FTM) About To Explode Like Solana (SOL)? This Analyst Thinks So The connection between Rive&#8217;s investment in Solana and Musk\u2019s stance on SOL remains unclear. Elon Musk is widely recognized for his enthusiasm for Dogecoin, often expressing support for the meme coin. Additionally, Tesla, under Musk&#8217;s leadership, has included Bitcoin as part of its corporate balance sheet. 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 &#8220;dms are open&#8221;. Musk has never responded publicly, suggesting that there is no official connection between Musk and Solana despite his cousin&#8217;s investment. Related Reading: Solana Price\u2019s 70% Rally Persuades Detractor, Arthur Hayes Makes Confession 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: \u201cElon Musk chooses Rust for xAI. Anatoly Yakovenko chose Rust for Solana.\u201d 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. SOL Prize Takes A Break 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. Featured image from Business Insider, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":559266,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84543],"tags":[8375,89801,12837,86420,83626,85361],"class_list":["post-559265","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-elon-musk","tag-lyndon-rive","tag-sol","tag-sol-price","tag-solana","tag-solana-price"],"acf":[],"yoast_head":"\n<title>Elon Musk\u2019s Cousin Among First Investors In Solana: Expert<\/title>\n<meta name=\"description\" content=\"MartyParty has renewed interest in the early investment patterns around Solana, particularly Lyndon Rive, a cousin of Elon Musk.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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Through his extensive work with ktsl888.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. 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His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. 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