As the US Crypto Summit approaches, Solana co-founder Anatoly Yakovenko has firmly opposed the idea of a US Strategic Crypto Reserve. His remarks follow reports that Ripple allegedly proposed including Solana (SOL) in the reserve to justify XRP’s presence, igniting a fresh debate on government intervention in digital assets.
Yakovenko’s Stand: Decentralization at Risk
Yakovenko took to X to express his stance, arguing that a government-controlled crypto reserve contradicts the fundamental principle of decentralization. He believes that any federal oversight over digital assets could set a dangerous precedent, undermining blockchain’s core values.
My reserve order of preference
— toly 🇺🇸 (@aeyakovenko) March 6, 2025
1. No reserve, because if you want decentralization to fail you’d put the government in charge of it.
2. Or states run their own reserve as a hedge against the fed making a mistake
3. Or if there has to be a reserve, it’s based on objectively… https://t.co/LfYXCIeRnG
As an alternative, Yakovenko suggested that individual states, rather than the federal government, could manage their own strategic crypto reserves. He views this as a safeguard against potential missteps by the US Federal Reserve. However, if such a reserve is inevitable, he emphasized that its selection criteria should be rational and data-driven, even if it favors Bitcoin.
Ripple’s Alleged Lobbying for SOL
Yakovenko’s statement comes amid reports that Ripple advocated for Solana’s inclusion in the US Strategic Reserve to legitimize XRP’s role. The alleged maneuver has sparked debate, with some viewing it as a strategic move for regulatory acceptance, while others see it as an attempt to influence national crypto policy in Ripple’s favor.
Ripple, which continues to battle legal challenges, has been pushing for greater regulatory clarity. However, its alleged efforts have drawn criticism from Bitcoin maximalists, who argue that XRP’s inclusion would be a result of lobbying rather than organic market dominance.
US Crypto Summit: The Stakes Are High
The controversy unfolds just ahead of the US Crypto Summit on March 8, where former President Donald Trump is expected to discuss crypto policy alongside policymakers and industry leaders. Notably, Trump’s proposal to include SOL, XRP, and Cardano (ADA) in a national reserve has already sparked widespread discussion about its implications for decentralization and government control.
Also Read: Solana Faces $485M Outflows as Investors Seek Safety in Stablecoins and RWAs
Adding to the intrigue, Trump’s family-backed World Liberty Financial recently placed a $20 million bet on Bitcoin and Ethereum, signaling potential major developments at the summit. As the debate over crypto’s role in government policy heats up, all eyes are on the upcoming event for further insights into the future of digital assets in the US.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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