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#solana dice NO!
Solana co-founder criticizes U.S. crypto reserve: "It undermines decentralization".
Anatoly Yakovenko, co-founder of Solana Labs, has expressed skepticism about the idea of a strategic cryptocurrency reserve in the U.S., arguing that government involvement would undermine decentralization and that his preference would be to have no cryptocurrency reserve at all.
"My order of preference is as follows:
1. No reserve, because if you want decentralization to fail, you will put the government in charge of it," Yakovenko said on Thursday on X.
As an alternative, he proposed that individual states could manage their own reserves instead of the federal government, acting as a safeguard against possible mistakes by the Federal Reserve. "2. Or that states manage their own reserves as a safeguard against Federal Reserve mistakes," he said.
If a national cryptocurrency reserve must exist, Yakovenko's third preference is that it be structured around "objectively measurable requirements", meaning likely clear and rational criteria. He also stated that Solana could meet any defined parameters if such requirements were established. "I don’t care what they are, they can even be constructed in such a way that only Bitcoin meets them at this moment, they just need to be objectively measurable and rationally justified," he said. "If there is a target to exceed, the Solana ecosystem will achieve it".
#WhiteHouseCryptoSummit #sol $SOL
Solana co-founder criticizes U.S. crypto reserve: "It undermines decentralization".
Anatoly Yakovenko, co-founder of Solana Labs, has expressed skepticism about the idea of a strategic cryptocurrency reserve in the U.S., arguing that government involvement would undermine decentralization and that his preference would be to have no cryptocurrency reserve at all.
"My order of preference is as follows:
1. No reserve, because if you want decentralization to fail, you will put the government in charge of it," Yakovenko said on Thursday on X.
As an alternative, he proposed that individual states could manage their own reserves instead of the federal government, acting as a safeguard against possible mistakes by the Federal Reserve. "2. Or that states manage their own reserves as a safeguard against Federal Reserve mistakes," he said.
If a national cryptocurrency reserve must exist, Yakovenko's third preference is that it be structured around "objectively measurable requirements", meaning likely clear and rational criteria. He also stated that Solana could meet any defined parameters if such requirements were established. "I don’t care what they are, they can even be constructed in such a way that only Bitcoin meets them at this moment, they just need to be objectively measurable and rationally justified," he said. "If there is a target to exceed, the Solana ecosystem will achieve it".
#WhiteHouseCryptoSummit #sol $SOL
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