Solana CEO Prefers No National Reserve Despite Addition of SOL

The co-founder and CEO of Solana (SOL), Anatoly Yakovenko, has spoken out against a US crypto reserve, arguing that it could endanger decentralization if the government gains control. Yakovenko shared...

March 7th, 2025
Max Latupeirissa

The co-founder and CEO of Solana (SOL), Anatoly Yakovenko, has spoken out against a U.S. crypto reserve, arguing that it could jeopardize decentralization if the government gains control.

On March 6, Yakovenko shared his preferences regarding a U.S. crypto reserve. According to him, having no reserve would be his first choice. A government-managed reserve could potentially fail decentralization. His second preference is for individual states to manage their own crypto reserves. This could serve as a safety net in case the Federal Reserve makes mistakes.

On March 2, Donald Trump announced which digital assets would be included in a strategic crypto reserve. The list includes XRP, Solana, Cardano, Bitcoin, and Ether.

In addition, Yakovenko also proposed a third preference. He indicated that if a national crypto reserve must be established, there should be objective measurable requirements for tokens to be included.

He further noted that these requirements could be set up in such a way that only Bitcoin currently meets them. However, the criteria must be rationally justified. He added:

“If there is a goal, the Solana ecosystem will achieve it.”

Yakovenko’s CEO responded to reports that Ripple had proposed Solana for inclusion in Trump’s crypto reserve, to make XRP’s inclusion seem more credible. On social media, he denied that Solana itself had submitted a request:

“What is a ‘Solana representative’? That’s like saying there’s a Bitcoin representative. Nobody asked me anything, and I didn’t pitch it.”

The founder of Cardano, Charles Hoskinson, denied being aware of ADA’s inclusion in the reserve. He stated in a video on March 5 that no one within Cardano had been informed in advance.

He added that he had not received an invitation to the upcoming crypto summit at the White House. This is in contrast to other prominent figures such as Brad Garlinghouse of Ripple, Michael Saylor of Strategy, Brian Armstrong of Coinbase, and Sergey Nazarov of Chainlink.