Sola halts all project development due to operational issues

Sola (SXP) has announced via its official blog that it is halting all future protocol development and updates, citing various operational constraints. The project explained that while several teams considered an acquisition following the resignation of its former CEO, the deals were ultimately unsuccessful due to issues uncovered during due diligence. A key problem identified was a lack of control over financial funds managed by Binance. The existing development team will now disband to pursue individual activities, while the former CEO plans to launch a separate, independent project to provide a new direction for current SXP holders.