Solana co-founder Anatoly Yakovenko has expressed concerns about the U.S. government's plans to establish a national cryptocurrency reserve, arguing that such a move undermines the principle of decentralization that is foundational to cryptocurrencies.
U.S. Plans for a Crypto Reserve
On March 2, U.S. President Donald Trump announced a list of digital assets for a strategic crypto reserve, which includes XRP, Solana (SOL), Cardano (ADA), Bitcoin (BTC), and Ether (ETH).
Yakovenko's Proposed Alternatives
Yakovenko suggests that state-level reserves could provide a safeguard against potential Federal Reserve mistakes. He emphasizes the importance of transparent and logical selection criteria, stating that these should be clear and rationally justified.
Industry Reaction
Following reports of Ripple allegedly pitching Solana's inclusion in the proposed reserve, Yakovenko denied his involvement, likening it to having a 'Bitcoin representative.' Cardano's Charles Hoskinson also denied prior knowledge of ADA's inclusion. Meanwhile, key industry figures like Brad Garlinghouse, Michael Saylor, and Brian Armstrong are confirmed attendees at the crypto summit.
The U.S. plans to create a national cryptocurrency reserve continue to spark debate within the industry, as leaders like Anatoly Yakovenko and others voice concerns over potential impacts on decentralization.
