On March 7, 2025, the White House will hold its first Crypto Policy Summit to discuss the inclusion of altcoins Cardano (ADA), XRP, and Solana (SOL) in a proposed U.S. Strategic Digital Asset Reserve.
Introduction
The summit will address custodial protocols, liquidity provisioning, and compliance frameworks for federally held cryptocurrencies extending beyond Bitcoin and Ethereum.
Solana Co-Founder’s Critique
Solana co-founder Anatoly Yakovenko outlined three scenarios for the reserve structure, emphasizing the importance of decentralized governance. He rejected federal custodianship of decentralized protocols and suggested state-level reserves or algorithmic criteria for asset selection.
Reserve Composition Controversy
Plans to expand the reserve to include altcoins face criticism from protocol minimalists. Critics argue that integrating PoS assets risks distorting validator incentives. Skeptics allege that project founders seek state-backed support to inflate their market capitalizations, undermining DAOs.
The summit is expected to address asset selection criteria and the role of decentralized entities in reserve auditing.
