Solana co-founder Anatoly Yakovenko has voiced criticism of U.S. President Donald Trump's idea to establish a national crypto reserve.
Anatoly Yakovenko's Objections
Anatoly Yakovenko expressed concerns about the idea of creating a national crypto reserve. He believes that putting the government in charge contradicts the principles of decentralization. "No reserve, because if you want decentralization to fail you'd put the government in charge of it," Yakovenko stated.
Alternative Approaches Suggested
Yakovenko suggested that if a crypto reserve is to be created, it should be based on objectively measurable criteria. He emphasized that the criteria must be rationally justified, even if only Bitcoin meets them at present. Furthermore, Yakovenko supports state-level crypto reserves, seeing them as a hedge against potential federal regulatory mistakes.
Reactions and Future Developments
Despite the discussions around the crypto reserve idea, Yakovenko has not confirmed his attendance at the upcoming White House crypto summit. Meanwhile, other prominent figures in the crypto industry have confirmed their participation. Journalist Laura Shin reported that Brad Garlinghouse from Ripple might have proposed including Solana in the reserve to legitimize XRP, but Yakovenko denied involvement in this proposal.
Yakovenko and other crypto leaders continue to express concerns about central regulatory intervention in the crypto space, emphasizing the importance of decentralization and objective criteria.
