FameEX Hot Topics | Messari CEO Disapproves of US President's Crypto Position, Anticipates 'Significant Wealth Redistribution' in Potential Biden Re-election

Ryan Selkis, the founder and CEO of Messari, a prominent crypto data and analytics platform, recently conveyed his apprehensions regarding the potential ramifications of a Joe Biden reelection on the cryptocurrency landscape in the United States. Speaking out on the social media platform X, Selkis expressed his worry that a second term for Biden could precipitate widespread wealth confiscation and seizures within the crypto sphere.

With the U.S. presidential election slated for November 5, 2024, approximately 187 days away, Selkis has emerged as a vocal figure on the topic, leveraging his platform to voice concerns about the Biden administration's approach to crypto regulation. Prior to founding Messari, Selkis had affiliations with Coindesk and its parent company, Digital Currency Group (DCG). His recent comments spotlight his unease regarding Senator Elizabeth Warren's influence on crypto policy under the Biden administration.

In a recent post on X, Selkis asserted, "If you can understand that Elizabeth Warren is the President of the U.S. economy [and] financial services regulators thanks to her early endorsement of Biden in 2020; Then you should understand why crypto’s vocal [and] heavy $$$ support for Trump will swing a 2025 GOP admin libertarian." Selkis's remarks coincide with a period marked by heightened regulatory scrutiny from U.S. government agencies targeting the crypto industry and non-custodial software.

Over the past year, U.S. regulatory and law enforcement agencies have intensified their focus on crypto firms and their leaders. Recent actions by the U.S. Department of Justice (DOJ) against developers associated with Tornado Cash and Samourai Wallet have elicited significant discontent within the crypto community. These developments prompted Wasabi Wallet and Phoenix Wallet to restrict access for U.S. users. Selkis shared a screenshot from an X post indicating a major Bitcoin company's plans to exit the U.S., underscoring growing concerns within the industry.

"A second Biden term will lead to mass wealth confiscation and crypto seizures," Selkis emphasized, further echoing sentiments on X. "They aren’t baiting and switching in an election year, they are telling you they’re coming for your property, surveilling your every move, and censoring your dissent."

As the election approaches, the political landscape has become increasingly competitive. Key contenders include incumbent President Joe Biden, former President Donald Trump, and Independent candidate Robert Kennedy Jr. Trump's upcoming address at the Libertarian National Convention aims to court independent voters, while Kennedy's support for cryptocurrency contrasts with Biden's stringent regulatory stance, indicating divergent paths for the industry depending on the election outcome.

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