Solana Co-Founder: Decentralization is at Risk

Solana co-founder and CEO Anatoly Yakovenko stated that a US crypto reserve controlled by the government could threaten decentralization, arguing that such a reserve should not exist.

On March 6, Yakovenko shared his preferences regarding the US crypto reserve on the X platform. He explained that his top preference was no reserve at all, as government control could lead to the “failure” of decentralization.

Yakovenko’s second preference was for states to manage their own crypto reserves. The Solana CEO stated that this could serve as insurance against potential mistakes by the Federal Reserve.

On March 2, US President Donald Trump announced that digital assets such as XRP, Solana, Cardano, Bitcoin, and Ether would be included in the crypto strategic reserve.

Solana co-founder Anatoly Yakovenko also advocated for measurable requirements for crypto reserves, suggesting that only Bitcoin currently meets these standards.

He emphasized that these requirements should be “rationally justified” and noted that the Solana ecosystem could meet these goals. These comments were made in response to reports suggesting that Ripple had proposed Solana for inclusion in Trump’s crypto reserve, believing it would make XRP’s inclusion “seem more legitimate.”

Yakovenko and Hoskinson Deny Involvement in Crypto Reserve Inclusion

When asked on social media whether Solana representatives had proposed SOL’s inclusion in the national crypto reserve, Yakovenko denied it. He wrote, “What’s a Solana representative? Honestly, at this point, it’s like talking about a Bitcoin representative. No one asked me, and I didn’t pitch it.”

Similarly, Cardano founder Charles Hoskinson also stated that he was not aware of Cardano’s token being included in the reserve before Trump’s announcement.

In a video on March 5, Hoskinson said no one had talked to them about ADA’s inclusion. He also mentioned that Cardano representatives had not been invited to the upcoming White House crypto roundtable.

Although Hoskinson claimed not to have received an invite, several crypto executives, including Brad Garlinghouse from Ripple, Michael Saylor from Strategy, Brian Armstrong from Coinbase, Sergey Nazarov from Chainlink, and many others, have confirmed their attendance at the summit.

The post Solana Co-Founder Expresses Skepticism Towards Trump’s Crypto Reserve appeared first on Coin Engineer.