Solana Founder Slams Trump’s Strategic Reserve – Here’s Why
Solana co-founder Anatoly Yakovenko has publicly expressed his disagreement with US President Donald Trump's plan to create a Strategic Cryptocurrency Reserve, which would include assets such as Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA).
In a series of social media posts, Yakovenko stressed that he was not consulted about Solana's inclusion in the reserve and did not advocate for it. He compared the situation to proposing an official representation for Bitcoin, emphasizing Solana's decentralized nature.
Yakovenko also expressed concerns that government control of cryptocurrency reserves could undermine the industry's core decentralization principle. He argued that if there must be a reserve, it should be managed at the state level as a countermeasure to potentially erroneous decisions from the Federal Reserve.
Yakovenko’s views reflect a split in the crypto community over the role of governments in regulating and storing digital assets. Many other industry leaders have also expressed surprise and concern about the inclusion of altcoins in the US reserve, arguing that it could lead to bias and unintended market impacts.
Meanwhile, the price of Solana (SOL) has seen significant volatility following the reserve announcement. On March 3, 2025, SOL reached a seven-day high of $178, but then fell to $148 over the next three days.
Government involvement in the cryptocurrency market continues to be a controversial topic, with concerns that inappropriate regulatory measures could lead to market manipulation and undermine the inherent decentralization of digital assets.