Solana co-founder and CEO Anatoly Yakovenko has expressed strong opposition to the idea of a U.S. government-controlled cryptocurrency reserve, warning that it could undermine decentralization.
In a March 6 post on X, Yakovenko outlined his stance, emphasizing that his top preference is no national crypto reserve. He argued that placing the government in control could lead to a failure of decentralization, a fundamental principle of the crypto industry.
He suggested that individual U.S. states could manage their reserves as an alternative. He said this would safeguard against potential missteps by the Federal Reserve. If a national reserve were to be established, his third option would be implementing objective, rationally justified criteria for selecting which cryptocurrencies are included. He noted that such standards could be designed so that only Bitcoin currently meets the requirements but added that the Solana ecosystem would strive to meet them if necessary.
Yakovenko commented on speculation regarding Solana’s potential inclusion in a U.S. crypto strategic reserve. On March 2, President Donald Trump announced that Solana (SOL), Bitcoin (BTC), Ethereum (ETH), XRP, and Cardano (ADA) would be part of the initiative. Anonymous reports suggested that Ripple advocated for Solana’s inclusion to enhance the legitimacy of XRP’s selection.
Addressing these claims, Yakovenko denied any involvement in lobbying for Solana’s addition to the reserve.
“What’s a Solana representative? At this point, it’s honestly like saying a Bitcoin representative. No one asked me, and I didn’t pitch it,”
he stated on social media.
Cardano founder Charles Hoskinson stated he was unaware of ADA’s inclusion in a recent announcement and had not been consulted by Trump. He also revealed that Cardano was not invited to the upcoming White House crypto roundtable. In contrast, several notable figures from the crypto industry, including Ripple CEO Brad Garlinghouse, MicroStrategy’s Michael Saylor, Coinbase CEO Brian Armstrong, and Chainlink co-founder Sergey Nazarov, are expected to attend the meeting.
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