Solana co-founder prefers ‘no reserve’ regardless of SOL inclusion

Solana co-founder and CEO Anatoly Yakovenko stated he would like no US crypto reserve, citing the dangers to decentralization if a authorities was in cost. 

On March 6, Yakovenko posted on X, sharing the order of his preferences concerning a US reserve of cryptocurrencies. The Solana co-founder stated his No. 1 choice can be having no reserve as a result of placing the federal government in cost could trigger decentralization “to fail.”

Yakovenko stated his second choice was for states to run their very own crypto reserves. The Solana CEO stated this might act as a hedge towards the Federal Reserve making a mistake. 

On March 2, US President Donald Trump announced a list of digital assets to be included in a crypto strategic reserve. Trump stated the Working Group on Digital Property had been instructed to incorporate XRP (XRP), Solana (SOL), Cardano (ADA), Bitcoin (BTC) and Ether (ETH). 

Solana co-founder requires measurable necessities for crypto reserves

The Solana co-founder additionally included a 3rd choice, with objectively measurable necessities being imposed on tokens to be included in a nationwide reserve. 

He stated the necessities might even be constructed in a method the place solely Bitcoin at present met the requirements. Nevertheless, they need to be “rationally justified,” including that if there’s a goal, “the Solana ecosystem will get it performed.”

The feedback have been made in response to experiences citing nameless sources saying that Ripple had pitched Solana to be included in Trump’s crypto reserve in order that XRP’s inclusion would “appear extra official.”

When requested on social media if Solana representatives had pitched SOL to be included within the nationwide crypto reserve, Yakovenko denied involvement. “What’s a Solana consultant? At this level, it’s truthfully like saying a Bitcoin consultant. Nobody requested me, and I didn’t pitch it,” he wrote. 

Associated: Trump’s crypto reserve likely to be mostly Bitcoin, bigger than expected: Bitwise

Equally, Cardano founder Charles Hoskinson denied any knowledge of Cardano’s token being included within the reserve earlier than Trump’s announcement. Hoskinson stated in a March 5 video that no one talked to them about ADA being included. Hoskinson additionally stated no Cardano representatives had acquired an invite to the upcoming White House crypto roundtable. 

Whereas Hoskinson claims to haven't acquired an invitation, several crypto executives, together with Ripple’s Brad Garlinghouse, Technique’s Michael Saylor, Coinbase's Brian Armstrong, Chainlink's Sergey Nazarov and plenty of others, have been confirmed to be attending the summit.