Solana Co-Founder Says A Federally Controlled Crypto Reserve Will Harm Decentralization Ethos, Proposes States Control Their Own Reserves
Anatoly Yakovenko, the co-founder of the Solana (CRYPTO: SOL) ecosystem, argued against a federal government-controlled cryptocurrency reserve Wednesday, citing a threat to decentralization.
What Happened: In an X post, Yakovenko outlined his order of preference for a potential cryptocurrency reserve.
“No reserve, because if you want decentralization to fail, you’d put the government in charge of it,” he stated as his first and the most ideal choice.
However, if reserves must be set up, Yakovenko said they should be managed by states as a “hedge” against the Federal Reserve making a mistake.
In the case of a federally administered reserve, Yakovenko proposed basing it on “objectively measurable requirements.”
“I don’t care what they are, they can even be constructed such that only Bitcoin satisfies them right now, they just must be objectively measurable and rationally justified,” he explained his point.
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