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
Bitcoin Outlook 2025As the Bitcoin market continues to mature, its 2025 outlook appears highly favourable, driven by institutional adoption and regulatory developments.
Author  TradingKey
Jan 23, Thu
As the Bitcoin market continues to mature, its 2025 outlook appears highly favourable, driven by institutional adoption and regulatory developments.
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
Analysts Highlight 4 Reasons Why ETH Price Could Rebound Strongly in MayEthereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.
Author  Beincrypto
May 07, Wed
Ethereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.
placeholder
Ethereum Price Ready to Surge—$2,000 Level Could Be Within ReachEthereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.
Author  NewsBTC
May 08, Thu
Ethereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.
placeholder
Ethereum Price Explodes Past $2,200 with 25% Surge—Momentum Builds FastEthereum price started a fresh surge above the $2,000 zone. ETH is now up over 25% and consolidating gains near the $2,200 zone. Ethereum started a fresh surge above the $2,000 resistance.
Author  NewsBTC
May 09, Fri
Ethereum price started a fresh surge above the $2,000 zone. ETH is now up over 25% and consolidating gains near the $2,200 zone. Ethereum started a fresh surge above the $2,000 resistance.
Related Instrument
goTop
quote