Messari Founder Ryan Selkis Launches Advocacy Group in Response to Recent SEC Actions

Following the U.S. Securities and Exchange Commission's (SEC) charges against popular cryptocurrency exchanges Binance and Coinbase, Messari founder Ryan Selkis has launched a new advocacy group named @DFA2024. The group aims to counter the "relentless fear, uncertainty, and doubt (FUD)" concerning the cryptocurrency industry.

Selkis used his personal Twitter account to publicly announce the organization's launch. According to his tweets, the group will focus on running pro-crypto messaging campaigns to push back against perceived negative bias.

Moreover, Selkis expressed strong dissatisfaction with the current leadership of the SEC under Chair Gary Gensler. "I do not respect the SEC under Chair Gensler," he tweeted, making clear his view of the regulatory body's current direction.

"We'll be fighting like hell the next 18 months to elect common sense politicians that will restore regular order to the regulatory state," Selkis further added. This statement suggests that the newly formed advocacy group may involve itself in political lobbying efforts to promote cryptocurrency-friendly policies.

Selkis also indicated a need for what he sees as "forward-thinking leaders," rather than what he labeled as "incompetent and crooked cops on the beat," a clear critique aimed at the current leadership of the SEC.

The formation of the @DFA2024 comes amid increasing regulatory scrutiny towards cryptocurrency exchanges in the United States. Just today, the SEC announced charges against Binance and Coinbase, two of the largest cryptocurrency exchanges worldwide. The charges and the perceived aggressive stance of the SEC towards the crypto industry appear to have catalyzed Selkis's initiative.