Messari CEO Declares Independence, Launches Regulatory Battle Against ‘Illegitimate’ SEC
Messari, a prominent US-based crypto market intelligence platform, has announced its independence from the Securities and Exchange Commission (SEC), pointing to the regulator’s strict approach to the growing industry.
On July 7, Ryan Selkis, CEO of Messari, stated:
“I’ve declared independence from the SEC and its corrupt Chair Gary Gensler. In the months ahead, Messari will be operationalizing a war against this illegitimate and corrupt agency.”
Reasons for Messari’s decision to break ties with the SEC
In a draft letter published on X, Messari outlined its positive interactions with regulators in other nations and compared them to its challenges with the SEC. The company criticized the SEC, alleging ineffectiveness and disrespect under Chair Gensler.
The letter brought attention to the SEC’s failure to discover fraud at FTX, Celsius, and Genesis before their collapses. Messari argued that the regulator’s legal actions against crypto firms have become politically driven rather than focused on fraud prevention.
Messari further noted that recent court rulings, such as Jarkesy and Loper-Bright, have weakened the SEC’s authority to regulate crypto markets. In the letter, it was stated:
“The crypto industry’s legal battles against the SEC have gained momentum after two Supreme Court decisions that undermine the agency’s internal administrative courts and Chevron deference. There are doubts about the agency’s legal mandate to regulate the crypto markets under the major questions doctrine.”
Furthermore, it emphasized that the SEC’s actions jeopardize America’s position as a leader in the crypto sector. As a result, Messari will halt all interactions with the SEC until changes are made.
The letter concluded:
“For various reasons, Messari will no longer cooperate with the SEC in any official or unofficial capacities until reforms are implemented and its leadership is altered. We now view the agency as a hostile opponent, competitor, and unnecessary federal regulator.”
Messari stated its intention to challenge the SEC’s authority over the emerging industry through legal means and congressional channels in the upcoming months.
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