Crypto intelligence platform Messari has announced its separation from the U.S. Securities and Exchange Commission (SEC), citing concerns over the competency and corruption of SEC Chair Gary Gensler. Messari plans to challenge the legitimacy of the SEC through legal, congressional, and media channels, arguing that advancements in technology have made the agency’s functions obsolete and that private market actors are better equipped to serve the public.
Messari’s CEO, Ryan Selkis, made the declaration on social media, stating that the company will wage a war against the “illegitimate and corrupt” SEC. Selkis also shared a draft document that will be refined and submitted to the SEC and Congress, highlighting how modern technologies have made the SEC’s role redundant and accusing Gensler of incompetence and corruption.
Messari further stated that it will no longer engage with the SEC in any capacity until significant reforms and leadership changes take place. The company now views the SEC as a hostile adversary, competitor, and unnecessary regulator.
Believing that public blockchains and technologies like AI will revolutionize financial asset issuance and settlement, Messari argues that private market participants are better suited to address public needs. The company asserts that investigative journalism is more effective in uncovering fraudulent activities and abuses than traditional regulatory frameworks.
Messari criticizes the SEC’s ineffective approach to cryptocurrencies, questions its authority to regulate the crypto market, and accuses its leadership of corruption. The company warns that continued reliance on the SEC will lead to the United States losing its position as a leader in crypto innovation.
In the coming weeks and months, Messari intends to implement its strategy to challenge the SEC’s legitimacy through legal action, congressional lobbying, and media campaigns.
What are your thoughts on Messari’s decision to separate from the SEC? Do you believe the SEC is corrupt and illegitimate, and that Gary Gensler is both corrupt and incompetent? Share your opinions in the comments section below.
