Michaela
Reports have suggested that Ripple Labs Inc. executives, including CEO Brad Garlinghouse and Chief Legal Officer Stu Alderoty, have allegedly pitched Solana (SOL) to President Donald Trump for inclusion in the proposed U.S. Crypto Reserve.
Rumors have it that Ripple’s decision aimed to bolster the legitimacy of XRP, the cryptocurrency issued by the company, in the proposed U.S. Crypto Reserve amid concerns that excluding other well-established altcoins could be perceived as “problematic.”
The addition of SOL also reinforced Ripple’s position as a proponent of a reserve that incorporates multiple American-based digital assets.
President Trump’s announcement of a proposed Crypto Reserve, featuring Bitcoin (BTC), Ethereum (ETH), XRP, SOL, and Cardano (ADA), ignited debate within the cryptocurrency community. The proposal emphasized divisions between Bitcoin maximalists, who advocate for Bitcoin’s dominance, and supporters of a multi-asset reserve.
Furthermore, rumors suggested that when questioned about whether Ripple had advocated for SOL’s inclusion in the proposed Crypto Reserve to strengthen its case for XRP, an alleged Ripple press representative pointed to an X post from Ripple CEO Brad Garlinghouse in response to President Trump’s announcement of the reserve.
In his X post, Garlinghouse stressed the importance of industry collaboration, stating that the crypto sector could reach its goals “if we work together.”
“Maximalism is the enemy of the industry’s progress. Glad to see POTUS recognizing we live in a multichain world and that we’re finally moving past Bill Hinman and the Biden administration’s SEC’s very broken thinking,” Garlinghouse wrote.
Yakovenko Says No to Crypto Reserve
However, despite ongoing speculation, Solana co-founder Anatoly Yakovenko’s response has added further uncertainty to the situation.
In a post on X, Yakovenko expressed opposition to the concept of a Crypto Reserve, warning that government involvement in digital assets could threaten the principles of decentralization.
“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,” Yakovenko wrote.
Yakovenko was later asked whether his post served as indirect confirmation that Solana representatives had not lobbied for SOL’s inclusion in any reserve, while Ripple had actively pushed for its place in the initiative.
“No one asked me, and I didn’t pitch it,” the Solana co-founder replied.
The debate comes as the White House Crypto Summit, scheduled for March 7, draws closer. The event has garnered increased attention following President Donald Trump’s recent statements on cryptocurrency policy.
Read More
- Ripple CEO Denies Lobbying Claims Amid Bitcoin Reserve Controversy
- Trump’s Proposed Bitcoin Reserve Could Trigger a Global Race Among Nations – Metaplanet CEO
- US Leaders Split on Bitcoin: Fed Rejects Reserves, Lummis Calls for Strategy
Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
