Solana News: Co-Founder Opposes U.S. Crypto Reserve Proposal, Highlighting Decentralization Concerns

In a recent development, Solana co-founder Anatoly Yakovenko has taken a stance against a proposed U.S. national crypto reserve, voicing concerns about government involvement in decentralized systems.

Solana Co-Founder Opposes U.S. Crypto Reserve Proposal

Solana co-founder Anatoly Yakovenko has expressed his opposition to U.S. President Donald Trump’s proposal to create a national crypto reserve composed of Bitcoin, Ether, XRP, Solana, and Cardano. Yakovenko stated that in his order of preference, there would be no reserve, emphasizing that putting the government in charge of decentralization would lead to its failure. The Treasury received authorization to establish the digital asset stockpile in January, but the composition of the reserve had remained unclear until Trump’s recent announcement.

Solana Founder on Reserve Assets: Prefers No Reserve Over Government Control

Solana Labs co-founder Anatoly Yakovenko weighed in on reports that Ripple was pitching SOL as part of a national reserve. Yakovenko outlined his criteria for reserve assets, focusing on decentralization and objectively measurable requirements. He expressed a preference for no reserve at all, arguing that government control undermines decentralization. His reserve order of preference was: 1. No reserve, as government control would lead to decentralization’s failure, 2. States running their own reserve as a hedge against the Federal Reserve’s mistakes, 3. A reserve based on objectively measurable requirements if one must exist.

Unto Aims to Improve Solana’s Performance 10x

Liam Heeger, former CORE engineer for Firedancer, Solana’s high-performance client, has left Jump to create his own layer-1 blockchain called Unto. The new blockchain aims to improve Solana’s performance by an order of magnitude with a new virtual machine. Heeger faced a lawsuit from Jump for violating a non-compete agreement but settled in late February. Unto’s focus is on significant performance improvements, aligning with Multicoin Capital managing partner Kyle Samani’s view that incremental improvements don’t matter.

Solana Faces Death Cross at $150

Solana (SOL) is facing significant challenges as its price struggles to hold steady around the $150 mark. The cryptocurrency’s failure to break past the key resistance level of $183 has led to a pullback. SOL is currently facing a technical pattern known as the “Death Cross,” a bearish signal that may indicate further declines in the NEAR future. A Death Cross occurs when an asset’s 50-day exponential moving average crosses below its 200-day exponential moving average, often seen as a signal of weakening momentum.