According to Wu, Vida, the founder of Formula News, posted on his personal channel, "Once again, I went long with 4 million dollars in SOL, at an average price of 175.8 dollars; 500 thousand dollars in XPL, at an average price of 0.395 dollars. This is equivalent to 1/10 of my bullets. This position has no certainty, just a gamble. My bet is that the market will quickly recover after the US stock market opens on Monday, just like every time unfavorable information happened over the weekend. The crypto market has now fallen by an average of 30%, pricing in a bizarre drop of 5% for the S&P 500 at the Monday opening. However, if the S&P 500 does not drop as much as imagined on Monday, then the sentiment will quickly recover."