Solana’s co-founder Anatoly Yakovenko has raised concerns over President Trump’s proposed US Crypto Strategic Reserve, explicitly stating that, in his „order of preference,” there would be “no reserve” for SOL.
🔻 SOL Price Drops Amid Controversy
- Solana (SOL) has fallen nearly 20% this week, currently trading around $142.80.
- Yakovenko’s remarks come in response to Trump’s announcement of a US Crypto Strategic Reserve, which includes Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA).
- The SOL price has also faced pressure due to $430 million worth of SOL being unlocked from the bankrupt FTX exchange and Alameda Research, with $3.38 million deposited on Binance earlier this week.
🚨 Yakovenko: Government Control Threatens Decentralization
On Thursday, Yakovenko took to social media (X) to express skepticism about government involvement in crypto reserves. He warned:
“If you want decentralization to fail, you’d put the government in charge of it.”
He further added that states might create their own reserves as a hedge against federal monetary policy failures.
Yakovenko emphasized that if a reserve must exist, it should be based on „objectively measurable requirements” rather than political preferences. He insisted that if a competitive benchmark were set, the Solana ecosystem would work to meet it.
📉 FTX Liquidations Add to Selling Pressure
Aside from the crypto reserve debate, Solana is also facing increased selling pressure due to the recent unlocking of SOL from FTX and Alameda Research. The $430 million worth of SOL flooding the market has contributed to the token’s price drop.
Despite the turbulence, Solana remains a top player in the crypto space, but with the US government’s involvement and market sell-offs, the coming weeks could be critical for SOL’s future price action.
🔮 What’s Next for SOL?
- Will Trump’s crypto reserve gain traction, or will decentralization advocates like Yakovenko push back?
- Can Solana recover from the recent FTX-induced supply shock?
📢 Stay tuned as we track the latest developments in the Solana ecosystem and Trump’s crypto policies!
