Solana co-founder prefers ‘no reserve’ despite 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 desire can be having no reserve as a result of placing the federal government in cost might trigger decentralization “to fail.”

Yakovenko stated his second desire 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 introduced an inventory of digital belongings 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 desire, with objectively measurable necessities being imposed on tokens to be included in a nationwide reserve. 

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

The feedback have been made in response to stories 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 more likely to be largely Bitcoin, larger than anticipated: Bitwise

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

Whereas Hoskinson claims to haven’t acquired an invitation, a number of 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.