Solana co-founder Anatoly Yakovenko has voiced his opposition to the creation of a U.S. crypto reserve, warning that it could compromise decentralization.
Solana co-founder Anatoly Yakovenko has voiced his opposition to the creation of a U.S. crypto reserve, warning that it could compromise decentralization. On March 6, Yakovenko posted on X, stating that placing a reserve under government control would risk decentralization "failing." He emphasized that his preference would be for no reserve at all, though he also proposed an alternative: individual states running their own reserves. This, he argued, could serve as a hedge against potential missteps by the Federal Reserve.
Yakovenko further elaborated that if a crypto reserve were to be established, it should be based on "objectively measurable requirements." These criteria could even be constructed such that only Bitcoin would meet the standards, though Yakovenko insisted that these measures must be "rationally justified." He added that if a clear target were set, the Solana ecosystem would be able to meet it.
The discussion about a national crypto reserve gained momentum after President Donald Trump’s announcement on March 2 that he intended to include several major digital assets. Among the tokens named were Bitcoin, Ethereum, XRP, Cardano, and Solana. However, Yakovenko made it clear that he had not been involved in any pitch for Solana's inclusion and denied suggestions that he or any Solana representative had approached the government about the reserve.
Ripple’s CEO Brad Garlinghouse and Chief Legal Officer Stu Alderoty were reportedly involved in discussions to include Solana in the reserve, a move that some crypto analysts believe would lend more legitimacy to XRP’s inclusion. However, Yakovenko dismissed this notion, clarifying that no one from Solana had made such a pitch.
Adding further complexity to the situation, Polymarket, a crypto analytics platform, estimated a 28% chance of Solana being included in the reserve. In comparison, Bitcoin and Ethereum had higher probabilities, at 64% and 42%, respectively.
Meanwhile, other figures in the crypto space have expressed skepticism about the initiative, with some questioning whether it would truly support decentralization. Edward Snowden, the NSA whistleblower, previously raised concerns about Solana’s heavy reliance on venture capital, suggesting it could undermine the network’s decentralization.
The announcement also raised eyebrows within the crypto community, especially among leaders of projects like Cardano and Ripple, who denied knowledge of their tokens' inclusion in the reserve before Trump’s declaration. Cardano founder Charles Hoskinson also publicly stated that he had not been contacted about ADA’s inclusion.
As the White House Crypto Summit approaches on March 7, attention remains fixed on how the reserve will be structured, whether additional tokens will be included, and the potential implications for decentralization in the broader crypto landscape.
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