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The Coin Rise 2025-03-06 18:37:29

Solana Co-Founder Slams U.S. Crypto Reserve Plan

Anatoly Yakovenko, co-founder of Solana, has strongly opposed the idea of a U.S. government-controlled crypto reserve. He believes that involving the government in crypto management could destroy crypto decentralization. Solana Co-founder Suggests A State-Run Alternative In a recent X post, Yakovenko made his stance clear about a federal crypto reserve, saying his top choice would be having no reserve. He fears that if the U.S. creates a national crypto reserve, it could lead to too much control over digital currencies. This would make them no different from traditional financial systems. In his post, Yakovenko suggested a backup plan. If there must be a reserve, he would prefer individual U.S. states to manage their own instead of the federal government. Another option, he said, would be for U.S. states to manage their reserves as protection in case the Federal Reserve makes a mistake. Yakovenko believes this idea would prevent one group from having too much control over the crypto market. If one state mismanages its reserve, it will not affect the others as much, possibly reducing the risk of a national failure. Meanwhile, several states in America, including Texas , New Hampshire , and Utah, have taken steps to create their crypto reserves, mainly focusing on Bitcoin. Debate Over Trump’s Crypto Reserve Plan If the U.S. government insists on creating a national crypto reserve, Yakovenko argues that it must follow clear and measurable rules. He says the criteria should be based on logic and fairness rather than political influence. He also expressed confidence in Solana’s ability to meet any fair government standards. Yakovenko’s comments come as debate continues over U.S. President Donald Trump’s proposed crypto strategic reserve. The reserve is expected to include Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Cardano (ADA). The plan has divided the crypto community. Some think it could bring regulatory clarity, while others fear too much government control. Critics also question why XRP and ADA are included, asserting these assets are less active than Bitcoin and Ethereum. Cardano’s CEO Charles Hoskinson said he only recently learned that ADA was included in the proposed national crypto reserve. Additionally, some even accused President Trump of creating the reserve to increase the value of his crypto. White House to Reveal More Details at Upcoming Summit President Trump will reveal more details about the crypto reserve at its first crypto summit on Friday. Reports suggest Bitcoin may get special treatment over other cryptocurrencies. Commerce Secretary Howard Lutnick hinted at this, saying the President supports a Bitcoin reserve. However, the plan for other cryptos will be announced at the summit. The post Solana Co-Founder Slams U.S. Crypto Reserve Plan appeared first on TheCoinrise.com .

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