Solana CEO Apologizes for Controversial Ad, Promises Focus on Core Mission

Solana Labs co-founder and CEO Anatoly Yakovenko has issued a public apology following widespread criticism of an advertisement that many viewed as targeting marginalized groups. The controversy has prompted discussions about inclusivity within the cryptocurrency community.

The advertisement, titled “America is Back — Time to Accelerate,” was posted to promote the upcoming Solana Accelerate conference. It depicted the United States as a man in therapy who expressed desires to focus on technological innovations like cryptocurrency. In the two-and-a-half-minute video, a therapist suggested the man should do “something more productive, like coming up with a new gender” and later advised him to “focus on pronouns.” The man responded that he wanted “to invent technologies, not genders.”

The ad quickly drew criticism for injecting political discourse into the cryptocurrency space. Many community members expressed disappointment, particularly as it came just nine days after Solana’s social media account had posted “Solana is for everyone.” Within nine hours of its release, the Solana Foundation deleted the video. By that time, however, it had already garnered over one million views and more than 1,300 comments.

On March 19, Yakovenko addressed the situation in a social media post. “The ad was bad, and it’s still gnawing at my soul,” he wrote, acknowledging the harm caused by the message. He further stated, “I am ashamed I downplayed it instead of just calling it what it is – mean and punching down on a marginalized group.” This admission came after initial responses that some felt minimized the impact of the advertisement.

Yakovenko expressed gratitude to members of the Solana ecosystem who immediately called out the problems with the advertisement. He described these community members as “the only silver lining to this whole mess.” Following the backlash, Matt Sorg, Vice President of Technology at the Solana Foundation, provided some context about the advertisement’s creation. He explained that only a few individuals were involved in its production and that most of the production process had been outsourced to external teams. He emphasized that the advertisement did not represent the views of the broader Solana community.

The controversy sparked important discussions about the contributions of diverse groups to the cryptocurrency and blockchain industry. Adam Cochran, partner at Cinneamhain Ventures, pointed out that transgender developers have made major contributions to open-source cryptography and security software. Cochran argued that the advertisement failed to recognize the industry’s history of meritocratic contributions. He noted that transgender people contribute to open-source software and cryptography in “an insanely disproportionate amount.”

In his apology, Yakovenko committed to ensuring that the Solana Foundation remains focused on its core mission. He emphasized the importance of decentralization and open-source software development. Yakovenko stated that he would use this experience as a learning opportunity. He promised that Solana would stay “out of cultural wars” and concentrate on its technical objectives. As of March 19, the Solana Foundation has not made an official statement about the incident. However, its social media account has reshared Yakovenko’s apology post to its followers.