Solana co-founder and CEO Anatoly Yakovenko recently harshly criticized the Joe Biden administration. Ethereum 
$2,336Solana (SOL), one of the largest smart contract networks after , was labeled as a security in some SEC cases.
Solana Founder: Failures
He criticized the U.S. government for its inability to create new jobs and promote employment opportunities at the local level. Yakovenko is unhappy that many of the jobs in the Solana ecosystem are moving abroad when they could be located within the US, especially in California. The Biden administration has received constant criticism from the cryptocurrency community for undermining innovation. Cryptocurrency companies are not wrong in this regard.
Due to regulatory pressure, the growth of cryptocurrency companies and even the establishment of new companies within the USA is prevented. Many countries such as UAE and Qatar are turning this into an opportunity and attracting many cryptocurrency companies with regulatory clarity. However, a cryptocurrency company in the USA cannot even easily open an account in major banks to pay its customers. They cannot do this due to pressure from the Fed.
Yakovenko’s Criticisms of the USA
Yakovenko’s comments come amid scrutiny of the U.S. labor market as new reports emerge showing job growth is slowing. According to the latest JOLTS data from the U.S. Department of Labor, job postings fell to 7.7 million, below the 8.1 million (4.6%) forecast and down from 8.18 million the previous month. This signals a cooling in the labor market and could lead the Federal Reserve to take a softer stance.
Solana Foundation Chief Strategy Officer Austin Federa spoke about the growing opportunities in the Solana ecosystem:
“There are 237 job postings in Solana’s community job postings. “There has truly never been a better time to join the Solana project.”
Federa noted discussions about new projects migrating from the Solana network or expanding into alternative networks.
“If you are one of these, contact me. “I will help with infrastructure, developers, ecosystem connections, marketing, promotions, general advice and Solana.”
Workers for the Solana network must be employed within U.S. borders, Yakovenko said. He expressed his disappointment in this matter. He stated that doing this has become impossible due to government incompetence at the state level.
Anatoly Yakovenko’s criticism of the Biden administration for its inability to create job opportunities highlighted the current challenges in the US job market and the growth potential in the technology sector. Increasing job opportunities in the Solana ecosystem does not benefit Americans due to negative discrimination by the Biden administration.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
