What Happened?
Anatoly Yakovenko, co-founder of Solana (SOL), has publicly opposed a new U.S. government proposal to create a “crypto strategic reserve.” The idea, announced by former President Donald Trump, aims to make the U.S. the global leader in cryptocurrency by storing Bitcoin (BTC), Solana (SOL), Ethereum (ETH), XRP, and Cardano (ADA) in a national reserve.
Why Yakovenko Disagrees
In a post on X (formerly Twitter), Yakovenko argued against government control of crypto reserves. He shared his priorities:
- No Reserve Preferred: He believes governments shouldn’t manage decentralized systems, as it could weaken their independence.
- State-Level Reserves: If reserves are needed, states should run them to avoid relying solely on federal decisions.
- Clear Rules: Any federal reserve should use measurable criteria (like technical features) to choose included cryptocurrencies—even if Bitcoin is the only one that qualifies today.
Yakovenko emphasized that Solana’s ecosystem could meet any fair standards if given the chance.
Solana’s Surprising Inclusion
Trump’s proposal unexpectedly listed Solana as part of the reserve. Yakovenko clarified he was not consulted, despite reports that blockchain company Ripple pushed for SOL’s inclusion to strengthen XRP’s position. “No one asked me, and I didn’t pitch it,” he stated.
Details of Trump’s Plan
According to David Sacks, the White House’s crypto advisor, Trump signed an executive order to:
- Build a “Strategic Bitcoin Reserve” using BTC holdings.
- Create a “U.S. Digital Asset Stockpile” with other cryptocurrencies seized from legal cases.
Critics worry this could centralize control over decentralized technologies.
