- Solana’s price has fallen nearly 20% so far this week.
- Solana co-founder Anatoly Yakovenko raised concern and said that in his “order of preference,” there would be “no reserve.”
- The post comes after President Trump’s announcement to form the US Crypto Strategic Reserve, including BTC, ETH, XRP, SOL and ADA.
Solana (SOL) price stabilizes and trades around $142.8 at the time of writing on Friday after falling nearly 20% this week. Solana co-founder Anatoly Yakovenko raised concern about SOL as part of the US Crypto Strategic Reserve on his social media X. On Thursday, Yakovenko said that in his “order of preference,” there would be “no reserve.”
Solana’s co-founder raises concerns about SOL as part of US ‘Crypto Strategic Reserve’
Solana’s co-founder Anatoly Yakovenko raised concern and posted on his social media X on Thursday about SOL being part of the US Crypto Strategic Reserve.
Yakovenko states in his “order of preference” that there would be “No reserve.”
This post comes after US President Donald Trump announced on his Truth Social platform on Sunday, a US Crypto Strategic Reserve, including Bitcoin (BTC), Ethereum (ETH), XRP (Ripple), Solana (SOL), and Cardano (ADA), aiming to boost America’s crypto leadership.
Yakovenko further explains, “If you want decentralization to fail, you’d put the government in charge of it,” or “states run their own reserve as a hedge against the fed making a mistake.”
He continued, “If there has to be a reserve, it’s based 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. If there is a target to beat, the Solana ecosystem will get it done.”
My reserve order of preference
— toly (@aeyakovenko) March 6, 2025
1. No reserve, because if you want decentralization to fail you’d put the government in charge of it.
2. Or states run their own reserve as a hedge against the fed making a mistake
3. Or if there has to be a reserve, it’s based on objectively… https://t.co/LfYXCIeRnG
Apart from the SOL being part of the US Crypto Strategic Reserve, the recent unlock of $430 million in SOL by the defunct FTX exchange and its parent company, Alameda Research, raised concern on Tuesday.
BREAKING: FTX/ALAMEDA ESTATE WALLETS RECEIVE $430M $SOL pic.twitter.com/rXJYbZB6o7
— Arkham (@arkham) March 3, 2025
Later that day, some of these SOL tokens worth $3.38 million were deposited on the centralized exchange Binance, increasing the selling pressure. At the time of writing on Friday, SOL trades at around $142.80, having fallen nearly 20% so far this week.
SOL transfer to Binance chart. Source: Solscan
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