Anatoly Yakovenko, co-founder of Solana, is against a US national cryptocurrency reserve, arguing that decentralization may be compromised by governmental control.
Anatoly Yakovenko, co-founder and CEO of Solana, said that he would rather not have a US cryptocurrency reserve because he believes that a government control would jeopardize decentralization.
Yakovenko shared his preferred order for a US cryptocurrency reserve in a post on X on March 6. The co-founder of Solana said that his first choice would be to have no reserve since he believes that decentralization may “fail” if the government takes control.
According to Yakovenko, his second choice was for governments to manage their own cryptocurrency reserves. According to the CEO of Solana, this may function as a buffer against a blunder by the Federal Reserve.
A list of digital assets to be included in a crypto strategic reserve was revealed by US President Donald Trump on March 2. Trump said that XRP had been ordered to be included by the Working Group on Digital Assets.
A third choice was added by the co-founder of Solana, who stipulated that tokens must meet objectively quantifiable criteria in order to be included to a national reserve.
According to him, the specifications might even be written such that, at the moment, only Bitcoin satisfies them. They should, however, be “rationally justified,” with the remark that “the Solana ecosystem will get it done” if there is a goal.
The remarks came in reaction to claims, according to unnamed individuals, that Ripple had suggested adding Solana to Trump’s cryptocurrency reserve in order to make XRP’s entry “seem more legitimate.”
Yakovenko denied any participation when questioned on social media whether representatives of Solana had proposed SOL for inclusion in the national crypto reserve. “What is a representative from Solana? It’s really like saying a Bitcoin spokesperson at this point. I didn’t propose it, and no one asked,” he wrote.
Related: Bitwise predicts that Trump’s cryptocurrency stockpile would be larger than anticipated and mostly include Bitcoin.
Charles Hoskinson, the creator of Cardano, also denied knowing that the company’s token was part of the reserve before to Trump’s statement. In a video posted on March 5, Hoskinson said that no one discussed ADA inclusion with them. Hoskinson said that no invitation to the next White House crypto roundtable has been given to any Cardano representatives.
Several cryptocurrency professionals, including Brad Garlinghouse of Ripple, Michael Saylor of Strategy, Brian Armstrong of Coinbase, Sergey Nazarov of Chainlink, and many more, were confirmed to be attending the conference, despite Hoskinson’s allegations that he was not invited.
