Solana co-founder prefers ‘no reserve’ despite SOL inclusion

Solana co-founder and CEO Anatoly Yakovenko said helium would similar nary US crypto reserve, citing the risks to decentralization if a authorities was successful charge. 

On March 6, Yakovenko posted connected X, sharing the bid of his preferences regarding a US reserve of cryptocurrencies. The Solana co-founder said his No. 1 penchant would beryllium having nary reserve due to the fact that putting the authorities successful complaint whitethorn origin decentralization “to fail.”

Yakovenko said his 2nd penchant was for states to tally their ain crypto reserves. The Solana CEO said this could enactment arsenic a hedge against the Federal Reserve making a mistake. 

On March 2, US President Donald Trump announced a database of integer assets to beryllium included successful a crypto strategical reserve. Trump said the Working Group connected Digital Assets had been instructed to see XRP (XRP), Solana (SOL), Cardano (ADA), Bitcoin (BTC) and Ether (ETH). 

Source: Anatoly Yakovenko

Solana co-founder calls for measurable requirements for crypto reserves

The Solana co-founder besides included a 3rd preference, with objectively measurable requirements being imposed connected tokens to beryllium included successful a nationalist reserve. 

He said the requirements could adjacent beryllium constructed successful a mode wherever lone Bitcoin presently met the standards. However, they should beryllium “rationally justified,” adding that if there’s a target, “the Solana ecosystem volition get it done.”

The comments were made successful effect to reports citing anonymous sources saying that Ripple had pitched Solana to beryllium included successful Trump’s crypto reserve truthful that XRP’s inclusion would “seem much legitimate.”

When asked connected societal media if Solana representatives had pitched SOL to beryllium included successful the nationalist crypto reserve, Yakovenko denied involvement. “What’s a Solana representative? At this point, it’s honestly similar saying a Bitcoin representative. No 1 asked me, and I didn’t transportation it,” helium wrote. 

Related: Trump’s crypto reserve apt to beryllium mostly Bitcoin, bigger than expected: Bitwise

Similarly, Cardano laminitis Charles Hoskinson denied immoderate knowledge of Cardano’s token being included successful the reserve earlier Trump’s announcement. Hoskinson said successful a March 5 video that cipher talked to them astir ADA being included. Hoskinson besides said nary Cardano representatives had received an invitation to the upcoming White House crypto roundtable. 

While Hoskinson claims to person not received an invite, several crypto executives, including Ripple’s Brad Garlinghouse, Strategy’s Michael Saylor, Coinbase's Brian Armstrong, Chainlink's Sergey Nazarov and galore others, were confirmed to beryllium attending the summit. 

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