Solana co-founder says no to government-run crypto reserve
Solana co-founder Anatoly Yakovenko opposes Trump’s idea for a U.S. crypto reserve, stating it goes against decentralization by putting it in the hands of the government.
In a recent post, Yakovenko clarified his stance regarding President Trump’s plans to establish a national crypto reserve that would include major tokens like Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Cardano (ADA) as well as Solana (SOL). He also confirmed that he was not asked on whether SOL would be included in the crypto reserve line up.
“No reserve, because if you want decentralization to fail you’d put the government in charge of it.” said Yakovenko.
According to the Solana co-founder, if there truly has to be a crypto reserve then it should be created based on “objectively measurable requirements” in order for the project to be fair and decentralized for all parties involved.
“I don’t care what they [the measures] are, they can even be constructed such that only bitcoin satisfies them right now, they just must be objectively measurable and rationally justified,” Yakovenko stated.
In fact, he was more in favor of state-run crypto reserves rather than one big national reserve as he believed state reserves could function as a “hedge against the fed making a mistake.” According to the Bitcoin Reserve Monitor, there are at least 26 U.S. states that have introduced Bitcoin strategic reserve bills.
At press time, Yakovenko has not confirmed his attendance for the White House Crypto Summit set to be held on March 7. Meanwhile, a number of other crypto figureheads such as Strategy Chairman Michael Saylor, Kraken CEO Arjun Sethi, Ripple CEO Brad Garlinghouse and Coinbase CEO Brian Armstrong have confirmed their attendance among others.
Earlier today, crypto journalist Laura Shin claimed that sources say Garlinghouse urged President Trump to include Solana in the crypto reserve in order to make the inclusion of XRP in the reserve “seem more legitimate.” When asked whether that was true, Yakovenko said that he was not asked about the inclusion of Solana in Trump’s national crypto reserve nor was he the one that pitched it.
