According to @MilkRoadDaily, Layer-1 blockchain Self Chain has terminated its CEO, Ravindra Kumar, following allegations of a $50 million OTC scam, causing the Self Chain (SLF) token to drop 35.9% in the past week. The project stated that no founding members were ever authorized to conduct OTC deals for SLF. In separate news impacting the Solana ecosystem, social media platform X suspended the account for memecoin launchpad Pump.fun and other related accounts without providing a reason, sparking speculation of a crackdown. Despite the negative news for the Solana-based platform, Solana's (SOL) price has remained relatively stable, trading around $152-$154 with a 24-hour high of approximately $156, based on current market data.

According to @StockMKTNewz, the Self Chain (SLF) token has dropped 35.9% in the past week after Layer-1 blockchain Self Chain terminated its CEO, Ravindra Kumar. The termination follows allegations of a $50 million over-the-counter (OTC) scam, which were reportedly published on Telegram by firms including Aza Ventures. Self Chain officially announced Kumar's termination in a tweet, stating he will no longer have any association with the project and that "no Self Chain founding members have ever been authorized to engage in OTC deals involving $SLF." Kumar, who had previously denied the allegations as "completely false," has since retweeted the company's announcement and removed the CEO title from his profile.