Solana Co-founder Anatoly Yakovenko Denies Lobbying Rumors

Yakovenko Responds to Speculation

Solana co-founder Anatoly Yakovenko has firmly denied rumors claiming Solana representatives lobbied for inclusion in a proposed U.S. government crypto reserve. These denials emerged amidst growing speculation that Ripple had actively supported Solana’s addition to the reserve to boost its own reputation.

Yakovenko directly addressed these rumors in a social media reply to Laura Shin of Unchained, stating clearly: “What’s a Solana representative? At this point, it’s honestly like saying a Bitcoin representative. No one asked me, and I didn’t pitch it.” He emphasized that the decentralized structure of Solana inherently lacks official representatives, much like Bitcoin, making formal lobbying impossible (source).

Trump’s Crypto Reserve Proposal

Market Reactions and Renewed Debate

This controversy follows former President Donald Trump’s recent announcement on a potential crypto reserve designed to integrate cryptocurrency deeper into U.S. financial policies. Trump’s proposal immediately sparked market excitement, causing Bitcoin prices to surpass $94,000 and Ether to jump by nearly 19%. Yet, it also reignited debates about the risks and rewards of government involvement in crypto markets (CoinDesk).

Yakovenko’s Opposition to a Government Reserve

Decentralization Under Threat

Yakovenko strongly opposes the idea of a centralized, government-managed crypto reserve. He argues this approach directly undermines cryptocurrency’s decentralization principles. Yakovenko advocates instead for no reserve at all but acknowledges that if unavoidable, decentralized state-level reserves might provide a viable alternative.

Criteria for a Crypto Reserve

Yakovenko further suggested, “If there has to be a reserve, it should be based on objectively measurable criteria.” Although he didn’t specify these criteria, Yakovenko emphasized transparency and logical justification. He expressed confidence that Solana’s ecosystem could meet any clear benchmarks.

Industry Support for Bitcoin-only Reserves

Industry leaders such as Coinbase CEO Brian Armstrong and representatives from the Texas Blockchain Council also support a Bitcoin-only approach. Armstrong considers this the simplest, most compelling option as a clear “successor to gold” (Bloomberg).

Investor Enthusiasm and Ongoing Debate

Despite pushback from leaders like Yakovenko, Trump’s proposal has energized crypto investors, signaling greater acceptance from Washington. Some investors view this as validation for the crypto market, yet the debate continues regarding implications for cryptocurrency decentralization (Politico, Bloomberg).