Solana’s co-founder says ‘No Reserve’ to SOL as a part of Trump’s Crypto Strategic Reserve

Source Fxstreet
  • 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.”

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. 

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

SOL transfer to Binance chart. Source: Solscan

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold Price Forecast: XAU/USD drifts lower below $2,800   after Trump imposes tariffsGold price (XAU/USD) edges lower to around $2,795 during the early Asian session on Monday.
Author  FXStreet
Feb 03, Mon
Gold price (XAU/USD) edges lower to around $2,795 during the early Asian session on Monday.
placeholder
U.S. March Nonfarm Payroll Preview: Even If Data Aligns with Expectations, Financial Markets May Not Escape the Fate of VolatilityOn 4 April 2025, the United States will release its March Nonfarm Payrolls (NFP) data. The market consensus currently anticipates job growth of 128,000, a decline from February’s 151,000 (Figure 1). W
Author  TradingKey
Apr 02, Wed
On 4 April 2025, the United States will release its March Nonfarm Payrolls (NFP) data. The market consensus currently anticipates job growth of 128,000, a decline from February’s 151,000 (Figure 1). W
placeholder
What Crypto Whales are Buying For May 2025Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
Author  Beincrypto
Apr 21, Mon
Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
placeholder
Gold Price Forecast: XAU/USD attracts some sellers below $3,250 on firmer US DollarThe Gold price (XAU/USD) extends the decline to around $3,245 during the early Asian session on Thursday. The precious metal edges lower to near a two-week low amid easing US-China trade tensions and stronger US Dollar (USD) demand. 
Author  FXStreet
Yesterday 02: 14
The Gold price (XAU/USD) extends the decline to around $3,245 during the early Asian session on Thursday. The precious metal edges lower to near a two-week low amid easing US-China trade tensions and stronger US Dollar (USD) demand. 
placeholder
Ripple Price Forecast: XRP builds bullish momentum as Ripple eyes Circle with $5B acquisition bidRipple’s (XRP) price is consolidating at $2.21 at the time of writing on Thursday, reflecting sideways trading in the wider cryptocurrency market. There is a growing need for XRP to hold above the immediate $2.20 confluence support to validate the potential breakout targeting $3.00.
Author  FXStreet
18 hours ago
Ripple’s (XRP) price is consolidating at $2.21 at the time of writing on Thursday, reflecting sideways trading in the wider cryptocurrency market. There is a growing need for XRP to hold above the immediate $2.20 confluence support to validate the potential breakout targeting $3.00.
Related Instrument
goTop
quote