Solana CEO Opposes US Crypto Reserve, Urges Decentralization
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Alternative Approaches for Reserves
Yakovenko proposed that the best option is to have no reserves at all. His second preference is for state-run crypto reserves that can shield against Federal Reserve missteps, rather than a national reserve managed by the government. Furthermore, he recommends establishing objective and measurable standards for tokens. Under such stringent conditions, he argues, only Bitcoin would qualify as a reserve asset, given its robust proof-of-work security and long-standing role as digital gold.
Broader Industry Impact
The discussion has stirred debate among industry leaders. Cardano founder Charles Hoskinson, for example, denied any prior knowledge of ADA’s inclusion in the reserve, emphasizing that no Cardano officials were invited to the upcoming White House crypto roundtable. In contrast, executives from Ripple, MicroStrategy, Coinbase, and Chainlink have confirmed their participation, underscoring Bitcoin’s dominant role in national economic discussions.
Yakovenko’s stance reflects a broader concern within the crypto community about preserving decentralization while balancing regulatory oversight—a challenge that continues to shape the evolving landscape of digital assets.