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

Solana co-founder and CEO Anatoly Yakovenko mentioned he would favor 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 relating to a US reserve of cryptocurrencies. The Solana co-founder mentioned his No. 1 choice can be having no reserve as a result of placing the federal government in cost might trigger decentralization “to fail.”

Yakovenko mentioned his second choice was for states to run their very own crypto reserves. The Solana CEO mentioned this might act as a hedge in opposition to 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 mentioned the Working Group on Digital Belongings 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 mentioned the necessities may even be constructed in a means the place solely Bitcoin at the moment met the requirements. Nonetheless, they need to be “rationally justified,” including that if there’s a goal, “the Solana ecosystem will get it performed.”

The feedback had been made in response to studies 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 professional.”

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 actually 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 mentioned in a March 5 video that no person talked to them about ADA being included. Hoskinson additionally mentioned 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 lots of others, had been confirmed to be attending the summit.