FameEX Hot Topics | Messari Proclaims Independence from SEC, Labels Chair Gensler as Incompetent and Corrupt

Messari, a U.S.-based crypto intelligence platform, has proclaimed its independence from the U.S. Securities and Exchange Commission (SEC), escalating its criticism against the agency and its chair, Gary Gensler. Ryan Selkis, CEO and founder of Messari, announced this bold move through a post on the social media platform X, where he criticized the SEC’s operations and Gensler's leadership as incompetent and corrupt.

In his declaration, Selkis expressed his dissatisfaction with the SEC, describing the agency as illegitimate and vowing to wage a war against it. He indicated that Messari would pursue legal, congressional, and media routes to challenge the SEC's relevance and authority. Selkis previewed a draft intended for the SEC and Congress, which he plans to refine further. This document argues that modern technologies, such as public blockchains and artificial intelligence, have made the SEC’s traditional functions obsolete, suggesting that the agency now serves its own interests rather than public or market needs.

Selkis went further, accusing SEC Chair Gary Gensler of not only being incompetent but also corrupt. He announced that Messari would cease all formal and informal engagements with the SEC until substantial reforms are made and its leadership is overhauled, treating the agency as a "hostile adversary, competitor, and superfluous regulator."

The firm posits that the capabilities of public blockchains and modern technology are sufficient to transform financial asset issuance and settlement. Messari contends that private market actors are more adept at meeting public needs and that investigative journalism has proven more effective than traditional regulatory structures in uncovering fraud and abuse.

Highlighting the inefficacy of the SEC's approach to cryptocurrency regulation, its allegedly corrupt leadership, and questionable mandate over crypto markets, Messari issued a warning. The company stressed that continued deference to the SEC's authority would jeopardize the United States' position as a leader in cryptocurrency innovation.

Concluding its aggressive stance, Messari outlined its strategy to dismantle the SEC's legitimacy. The company plans to mobilize its efforts through the courts, Congress, and media in the coming weeks and months, signaling a significant confrontation with federal regulatory powers.

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