The quickest Layer-1 blockchain’s inclusion in Donald Trump’s crypto-driven federal reserve came as a surprise to many, including one of Solana’s (SOL) founding members. Anatoly ‘Toly’ Yakovenko, a Ukrainian developer and entrepreneur, opposed the idea of a digital asset reserve owned by the United States government in a series of tweets on X.
Solana’s Co-Founder: “No One Asked Me”
In an open thread on X with Crypto Journalist Laura Shin, Mr. Yakovenko lined up his preferred order of outcomes after the big news of a President-initiated crypto reserve is about to see the light of the day. Firstly, the Solana (SOL) co-founder explicitly stated that no reserve would be best in his opinion, in order to save the principles of decentralization.
“If you want decentralization to fail you’d put the government in charge of it”, – argues the outspoken Solana Labs co-founder, also considering two alternative scenarios. Either the United States (USA) government runs “their own reserve as a hedge against the FED making a mistake”, or the requirements for the reserve are “objectively measurable”.
Sponsored
On top of that, the prominent crypto industry figure went on to decline any involvement or prior knowledge of Solana (SOL) getting the nod for the United States Strategic Reserve. “No one asked me, and I didn’t pitch it”, even hinting that he wouldn’t be against a Bitcoin-only crypto strategic reserve, if BTC is the only one to meet the applied standard.
Meanwhile, Solana’s (SOL) price reacted positively to the breaking crypto reserve news, scoping up to a new 7-day high of $178 on March 3, 2025. However, the #6 ranked crypto witnessed a $30 SOL price crunch in the following three days to put the altcoin back at $148 as of press time.
On The Flipside
- Improperly imposed regulatory laws on crypto can give leeway for market manipulation.
- Many other industry leaders were taken aback to see altcoins added to the US reserve.
- Others, such as Yves La Rose of EOS Network, took it as proof of crypto’s versatility.
Why This Matters
A clear regulatory path could offset huge opportunities and unprecedented interest in blockchain technology, but it also puts crypto in a position to be more centralized than ever due to democratizing access with the government’s assistance.
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