Nikolas Sargeant
Anatoly Yakovenko, co-founder and CEO of Solana, has publicly expressed remorse over the company's "America is Back—Time to Accelerate" advertisement that sparked widespread criticism throughout the crypto community.
"The ad was bad, and it's still gnawing at my soul," Yakovenko admitted in a candid post to his 560,000 followers on X. "I am ashamed I downplayed it instead of just calling it what it is – mean and punching down on a marginalized group."
Solana Pledges to Avoid Culture Wars
The controversial advertisement, posted on March 17, was removed after just nine hours despite reaching 1.4 million views. Community members had quickly condemned the content as "cringe," "toxic," and "offensive."
Initially, Yakovenko had simply commented that the previous "Maren ad was better," but his recent statement represents a more thorough acknowledgment of the misstep.
"I am grateful for the ecosystem devs and artists that immediately called it what it is both publicly and privately," the CEO wrote. "You are the only silver lining to this whole mess."
Looking forward, Yakovenko promised that the Solana Foundation would maintain its focus on technical goals rather than controversial messaging. "I'll do whatever I can to make sure Solana Foundation stays focused on its mission of decentralization and open source software development and out of culture wars," he pledged.
Industry Praises Yakovenko's Honest Response
The CEO's straightforward apology has garnered positive reactions from several prominent figures in the crypto and tech industries.
Sam Lessin, an early Venmo investor, praised Yakovenko's approach: "I love you owning this directly. Crisis comms PR 101 of 2025 is never apologize, and never admit fault. This is 201..."
Other community members echoed this sentiment, with one user writing, "Respect you saying this with no ego, that is real leadership brother. We can move on and accelerate together." Another developer noted the courage required "to take accountability and publicly own up to a mistake."
While Yakovenko has personally addressed the controversy, the Solana Foundation has yet to issue an official statement since removing the advertisement on Monday.
Meanwhile, SOL has risen over 7% in the past 24 hours, trading at $133.30 at press time. This price increase also coincides with the recent launch of the first Solana exchange-traded funds (ETFs) in the US by Volatility Shares.
