FameEX Hot Topics | Messari Asserts Independence from SEC, Criticizes Chair Gensler as Incompetent and Corrupt

Messari, a U.S.-based crypto intelligence platform, has declared its independence from the U.S. Securities and Exchange Commission (SEC), escalating its critique of the agency and its chair, Gary Gensler. CEO and founder Ryan Selkis voiced this bold stance via a post on social media platform X, lambasting the SEC's operations and Gensler's leadership as incompetent and corrupt.

Selkis expressed profound dissatisfaction with the SEC, labeling the agency as illegitimate and vowing to engage in a campaign against it. He outlined that Messari would challenge the SEC’s authority through legal, congressional, and media avenues. In his statement, Selkis previewed a draft document, still to be polished, intended for the SEC and Congress, arguing that advancements such as public blockchains and artificial intelligence render the SEC's traditional roles outdated. He criticized the agency for now serving its interests rather than those of the public or the markets it regulates.

Further escalating the critique, Selkis accused SEC Chair Gary Gensler of both incompetence and corruption. He declared that Messari would halt all formal and informal engagements with the SEC until there are significant reforms and a change in leadership, treating the agency as a "hostile adversary, competitor, and redundant regulator."

Messari asserts that modern technologies provide sufficient infrastructure to transform financial asset issuance and settlement processes. The firm argues that private market participants are better equipped to address public needs and that investigative journalism is more effective than traditional regulatory frameworks at exposing fraud and abuse.

The company sharply criticized the SEC's approach to regulating cryptocurrencies, its purportedly corrupt leadership, and its debatable authority over crypto markets. Messari warned that continuing to recognize the SEC’s authority could endanger the U.S.'s leadership role in cryptocurrency innovation.

In conclusion, Messari detailed its strategic plan to undermine the SEC’s legitimacy. Over the upcoming weeks and months, the company is set to fully activate its strategy, leveraging legal, congressional, and media channels. This comprehensive plan signals a major impending conflict with federal regulatory authorities, illustrating Messari’s commitment to leading change in the cryptocurrency regulatory landscape.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.