Messari to Start War Against SEC

In the coming months, Messari will “start a war against the illegitimate and corrupt” SEC. This was stated by the company’s founder and CEO Ryan Selkis.

GM.

I’ve declared independence from the SEC and its corrupt Chairman Gary Gensler.

In the months ahead, Messari will be operationalizing a war against this illegitimate and corrupt agency.

The draft below will be polished, improved, then sent to the SEC and Congress.

🇺🇸🇺🇸🇺🇸 pic.twitter.com/okVWKMhDSz

— Ryan Selkis (d/acc) 🇺🇸 (@twobitidiot) July 7, 2024

The top manager presented a draft of the agency’s “declaration of independence” to Messari. He promised to improve the document and subsequently send it to the SEC and the US Congress.

The issue concerns the agency’s legitimacy in relation to decisions on providing information to digital asset markets.

In the filing, Selkis rejected the SEC’s status as a respectable federal agency and called Commission Chairman Gary Gensler “a corrupt, counterproductive, and ineffectual bureaucrat” whose usefulness is questionable given the integration of modern technology.

According to Messari’s CEO, the agency’s chairman benefits himself and the agency’s employees, but not citizens, markets and organizations.

For these reasons, Selkis said his company would refuse to cooperate with the commission until it is dissolved or its leadership is changed. The SEC is seen as a hostile competitor or a “superfluous” regulator, he added.

Messari plans to compete with the agency by providing better, faster and cheaper information reporting for crypto markets. — at no cost to taxpayers.

The company believes in the popularization of public blockchains and the associated significant changes in the disclosure standards for investors.

Under these conditions, such private sector services would outperform the federal government without any budgetary costs, Selkis added.

Messari’s strategy is to communicate the following basic facts to investors through the courts, Congress and the media:

1. The SEC’s approach to digital assets is ineffective. It failed to detect the alleged frauds of FTX, Celsius, Genesis Capital and others.
2. Lawsuits against legitimate entities like Coinbase, Kraken and Gemini smell more like political persecution.
3. Gensler is not only incompetent, he is corrupt. His actions have a chilling effect on the development of U.S. industry. His mounting legal losses undermine faith in the integrity of the SEC, and evidence of alleged corruption and malfeasance by the chairman — confidence in his ability to determine the agency’s priorities.
4. The commission has no legal claim to oversee cryptocurrency markets after two Supreme Court decisions weakened the agency’s internal administrative courts. Questions remain about the SEC’s legal mandate to regulate digital asset markets in general under the fundamental questions doctrine.
5. Maintaining the current status quo will result in the country losing its leadership in cryptocurrency and will threaten to weaken certain sectors of the American economy and the US dollar.
6. Messari already offers the market a global service at no cost to taxpayers. The research team has uncovered financial difficulties and/or fraud at several major companies, including Mt.Gox, FTX, Genesis Capital.

Selkis noted that the company has more than six years of experience and has allocated $60 million for research and development.

In conclusion, the top manager expressed confidence in the need to destroy the “political aristocracy.” He emphasized that Messari is ready to fight against the “anti-cryptocurrency” army. [участницы банковского комитета Сената США Элизабет] Warren, though, believes the war is unnecessary and counterproductive.

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