Crypto
Featured Session "The Story of SolanaWhy It's the Ecosystem Fueling the Future of Web3"
Solana cofounder Raj Gokal and seed investor Rodolfo Gonzalez at SXSW (Jason Bollenbacher/Getty Images)
Yikes

Solana pulls ad after huge backlash

But was it an epic fail or more a case of “all press is good press”?

Yaël Bizouati-Kennedy

Well, Solana was having a moment… for a moment. Talks about including the token in the crypto national stockpile, the slew of spot solana ETFs filings, and its recent fifth birthday had the coin buzzing again. Then it posted what many describe as (at best) a very cringe and “idiotic” ad: “America is Back — Time to Accelerate.” An enormous backlash ensued, so it deleted the ad, though it took them a while to pull the plug.

The ad features a man named “America” in a therapy session after being diagnosed with “rational thinking syndrome.” Critics argue the 2-minute, 38-second ad is pro-Trump (notably, President Trump’s eponymous meme coin, $TRUMP, was launched on the solana blockchain), “anti-woke,” and makes fun of gender identity. A lot. The therapist says things like, “Why don’t we take this energy and channel it into doing something more productive, like coming up with a new gender.”

“I want to invent technologies, not genders,” the America character says to the therapist. 

“Solana put out a politically divisive ad engaging in social identity issues around pronouns versus a focus on technology,” Two Prime Digital Assets CEO Alexander Blume said. “I think solana was aiming to be bold and align with tech-first values, but waded too deep into issues that distract from the offerings of their product.”

Others said that the ad was “brilliant marketing” as the “cringy rage bait” ad went viral. After all, as the saying goes, “all publicity is good publicity.”

“The solana ad felt out of the blue, given the nature of it punching down,” Alan Orwick, cofounder of Quai Network, said. “Solana is in the zeitgeist, so to kick other groups when it was uncalled for received clear backlash. Its important to remember crypto is apolitical, and the networks behind the assets should be credibly neutral.”

The ad was meant to promote solana’s Accelerate “series of events” in May in New York City. The events are organized along two distinct conferences: “Scale or Die” and “Ship or Die.” 

Solana is the sixth-largest crypto by market cap with $62.2 billion, but the price is down almost 40% since March 2024.

More Crypto

See all Crypto
Man Climbing Mountain

XRP hits price level not seen since November as markets’ mood goes risk-on

XRP spot ETFs have yet to record a single day of outflows since launch.

crypto

Meme coins are low-key back to start the year, with pepe taking the early lead in 2026 gains

The meme-based pepe is the fastest horse in the crypto race in the new year so far, with the price of the cryptocurrency increasing 34% in the last 24 hours.

The price swing resulted in the liquidation of nearly $9.9 million worth of pepe short positions in the last 24 hours, data from CoinGlass shows. 

The frog-based coin has seen a 24-hour trading volume of nearly $1.6 billion and is not the only meme coin outpacing the broader crypto market.

Dogecoin, shiba inu, and PUMP have each risen between 8.4% and 10.9% in the last 24 hours, joining pepe as the top gainers in the period, a sign of life for meme tokens, which as a category lost more than half their value last year. 

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.