Solana’s co-founder has cast doubt on Trump’s crypto reserves, despite SOL being among them.
Yakovenko, co-founder of Solana, believes a US national crypto reserve is a bad idea because he fears government control could compromise decentralization.
Preferring the absence of a US crypto reserve, Solana CEO Anatoly Yakovenko cautioned that government intervention could harm decentralization.
In a post on X dated March 6, Yakovenko ranked his preferences concerning a US cryptocurrency reserve.
According to Solana’s co-founder, he favors not establishing a reserve, as he believes government intervention could undermine decentralization.
Yakovenko stated that if the US must create a reserve, he would rather have states control their own crypto holdings.
The Solana CEO argued that allowing states to manage their own reserves could protect against Federal Reserve errors.
On March 2, US President Donald Trump unveiled a list of digital assets set to be included in a crypto strategic reserve.
Trump’s statement mandated the Working Group on Digital Assets to feature XRP, Solana, Cardano, Bitcoin, and Ether in its selection.
For his third preference, the Solana co-founder suggested implementing specific, measurable conditions for tokens to qualify for a national reserve.
He proposed structuring the requirements in a way that only Bitcoin would meet them. This aligns with what the CEOs of Coinbase and Gemini have publicly supported—a US reserve backed solely by Bitcoin.
Nonetheless, he emphasized that the standards must be “rationally justified” and asserted that if officials define an objective, “the Solana ecosystem will get it done.”
Yakovenko made these comments in response to reports from anonymous sources suggesting that Ripple proposed including Solana in Trump’s crypto reserve to bolster the legitimacy of XRP’s inclusion.
When asked on social media if Solana had taken steps to have SOL included in the national crypto reserve, Yakovenko rejected the notion.
“What’s a Solana representative? At this point, it’s honestly like saying a Bitcoin representative. No one asked me, and I didn’t pitch it,” he wrote.
Similarly, Cardano founder Charles Hoskinson denied knowing about the token’s inclusion in the reserve before Trump revealed it.
In a video dated March 5, Hoskinson claimed that no one had reached out to them about adding ADA.
He clarified that Cardano’s team had not received an invitation to the White House crypto roundtable set to take place soon.
Despite Hoskinson’s claim of not being invited, several key crypto executives—including Ripple’s Brad Garlinghouse, MicroStrategy’s Michael Saylor, Coinbase’s Brian Armstrong, and Chainlink’s Sergey Nazarov—have confirmed their attendance at the summit.
