Solana’s Yakovenko Sounds Alarm on U.S. Crypto Reserve: Decentralization at Risk?

Solana’s Yakovenko Warns Against Government-Led Decentralization in U.S. Crypto Reserve Debate

The discussion around a U.S. crypto reserve has gained momentum following remarks from Anatoly Yakovenko, co-founder of Solana. He voiced concerns over government-driven decentralization, arguing that decentralization should remain independent of state control.

Yakovenko’s Stance on Crypto Reserves

While Yakovenko opposes a government-managed crypto reserve, he acknowledged possible alternatives. He suggested that states could oversee reserves or establish clear benchmarks for inclusion. According to him, if Solana had defined criteria to meet, its ecosystem would work to align with those standards.

Ripple’s Push and Industry Reactions

Ripple Labs reportedly advocated for Solana’s SOL to be included in a national crypto reserve, aiming to bolster XRP’s credibility. Sources indicate that Ripple executives engaged with President Trump, urging the creation of a diversified reserve that includes multiple U.S.-based cryptocurrencies. However, the proposal failed to secure broad industry support.

Skeptics argue that XRP lacks sufficient real-world utility to justify its market cap, raising doubts about its inclusion. The suggestion of adding SOL and ADA alongside XRP also drew criticism. Additionally, Trump’s decision to exclude Bitcoin and Ethereum from the reserve further fueled skepticism, leading many to perceive the initiative as a PR move rather than a serious financial strategy.

Market Response and Future Implications

Data from Polymarket shows Bitcoin as the most probable reserve asset, with a 64% likelihood. Ethereum follows at 42%, while XRP and SOL stand at 29% and 28%, respectively. ADA remains uncertain, as it lacks a dedicated reserve contract.

Adding to the debate, the White House is preparing to host its first Crypto Policy Summit by the end of the week. Investors and market participants eagerly anticipate more details regarding the reserve’s composition and acquisition strategy. The summit could clarify whether altcoins will play a significant role or if the reserve will remain Bitcoin-centric.

The crypto community remains skeptical of a reserve that prioritizes assets lacking strong store-of-value characteristics. If the reserve does not include substantial Bitcoin or Ethereum holdings, the long-term impact of Trump’s announcement may be minimal. As a result, the initial price surges seen in XRP, SOL, and ADA could be short-lived.