Solana Co-Founder Opposes US Crypto Reserve Amid Market Volatility

Anatoly Yakovenko, the co-founder of Solana Labs, has voiced strong opposition to the idea of a U.S. government-controlled crypto reserve. This stance comes at a time when discussions about regulatory clarity and the potential establishment of a strategic Bitcoin reserve by the U.S. government are gaining traction. Yakovenko's views were highlighted during the lead-up to the White House Crypto Summit 2025, an event aimed at fostering domestic business growth and improving regulatory clarity in the crypto industry.

Yakovenko's participation in the summit, along with other industry leaders, indicates a growing interest in the regulatory framework for cryptocurrencies. The summit is expected to address the framework for the proposed cryptocurrency reserve, including discussions on selection criteria for crypto assets and regulatory considerations. Industry observers are eagerly awaiting clarity on whether Congress will pass a bipartisan stablecoin bill introduced last month, which would allow financial institutions to issue their own stablecoins.

The summit is also anticipated to provide guidance on whether the SEC will approve ETFs for tokens such as Solana, XRP, and Cardano. Industry leaders are seeking understanding of how the financial system will fund, manage, and integrate the proposed reserve. The event features prominent industry figures, including Michael Saylor, Executive Chairman of Strategy, Brian Armstrong, CEO of Coinbase, and Vlad Tenev, CEO of Robinhood. Other confirmed attendees include Ripple CEO Brad Garlinghouse, Bitcoin Magazine CEO David Bailey, Paradigm Co-founder Matt Huang, and Exodus CEO JP Richardson.

Yakovenko's denial of claims that he lobbied for inclusion in the U.S. crypto reserve underscores the complex dynamics within the industry. The summit is seen as a crucial step towards regulatory clarity, with discussions focusing on fostering domestic business growth and improving the regulatory environment for cryptocurrencies. The event is expected to address the framework for the proposed cryptocurrency reserve, including selection criteria for crypto assets and regulatory considerations.