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

• Solana’s Yakovenko warns against government-led decentralization, proposing state-managed reserves or clear benchmarks instead.
• Ripple’s push for SOL in a U.S. crypto reserve aimed to boost XRP’s credibility but failed to win broad industry support.
• Skepticism grows as Trump’s reserve plan excludes BTC/ETH, raising doubts about its legitimacy and long-term impact.

The discussion on a U.S. crypto reserve has intensified following comments from Anatoly Yakovenko, co-founder of Solana. He expressed concerns over centralization, suggesting decentralization should not be government-controlled. 

Yakovenko preferred no reserve but acknowledged potential alternatives. He proposed states managing reserves or establishing objective criteria. According to him, if Solana had a clear benchmark, the ecosystem would strive to meet it.

Ripple’s Strategic Move and Industry Reactions

Ripple Labs reportedly pitched Solana’s SOL as part of a national crypto reserve. This move aimed to lend credibility to XRP’s inclusion. Sources claim Ripple executives engaged with President Trump to push for a diversified reserve, incorporating multiple American tokens. However, the strategy failed to convince the broader crypto community.

Critics argue that XRP lacks real-world utility to justify its market cap. Including SOL and ADA alongside XRP raised questions. The absence of Bitcoin and Ethereum in Trump’s announcement further fueled skepticism. Many perceived the reserve as a PR stunt rather than a genuine financial strategy.

Market Response and Future Implications

Polymarket data shows Bitcoin as the most likely reserve asset, with a 64% probability. Ethereum follows at 42%, while XRP and SOL hover around 29% and 28%. ADA lacks a dedicated reserve contract, adding uncertainty to its potential inclusion.

Additionally, the White House is set to host its first Crypto Policy Summit by the week’s end. Market participants await more details on the reserve’s composition and procurement strategy. The summit could clarify whether the reserve will hold substantial amounts of altcoins or remain Bitcoin-centric.

The crypto community remains skeptical of a reserve that prioritizes assets lacking store-of-value characteristics. If the reserve excludes meaningful BTC or ETH holdings, the long-term impact of Trump’s announcement may be negligible. Consequently, the initial price surge for XRP, SOL, and ADA might be short-lived.