Recently, Messari’s founder and CEO, Ryan Selkis, has expressed strong opinions about the potential impact of a Joe Biden reelection on the cryptocurrency industry in the United States. On Thursday, Selkis voiced his concerns on the social media platform X, stating that a “second Biden term will lead to mass wealth confiscation and crypto seizures.”
Crypto Industry at Risk in Biden’s America, Says Messari Founder
With approximately 187 days remaining until the U.S. presidential election on Tuesday, Nov. 5, 2024, Ryan Selkis, founder and CEO of Messari, a crypto data and analytics platform, has been increasingly outspoken about the event. Prior to establishing Messari, Selkis was involved with Coindesk and its former parent company, Digital Currency Group (DCG). More recently, he has voiced concerns about the Biden administration’s handling of crypto regulation, specifically pointing to Senator Elizabeth Warren‘s influence.
Selkis shared his views on the social media platform X last week, stating, “If you can understand that Elizabeth Warren is the President of the U.S. economy [and] financial services regulators thanks to her early endorsement of Biden in 2020; Then you should understand why crypto’s vocal [and] heavy $$$ support for Trump will swing a 2025 GOP admin libertarian.” The comments from the founder of Messari coincide with a period marked by notable regulatory actions by the U.S. government, targeting the crypto industry and non-custodial software.
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In the past year, various U.S. regulatory and law enforcement bodies have increasingly focused on crypto firms and their leaders. Recently, the U.S. Department of Justice’s (DOJ) dealings with the developers of Tornado Cash and Samourai Wallet have sparked significant discontent within the crypto community. These developments have compelled both Wasabi Wallet and Phoenix Wallet to restrict access for U.S. users. On May 2, Selkis shared a screenshot from an X post revealing a major bitcoin company’s plans to exit the U.S.
“Wave of DOJ subpoenas inbound. Going to be a full blown war over self custody,” the picture’s text conveyed. Further agreeing with this sentiment on X, Selkis commented, “A second Biden term will lead to mass wealth confiscation and crypto seizures. They aren’t baiting and switching in an election year, they are telling you they’re coming for your property, surveilling your every move, and censoring your dissent.”
As the election draws near, the odds have tightened significantly in recent months. The main contenders include incumbent President Joe Biden, former President Donald Trump, and Independent candidate Robert Kennedy Jr. Meanwhile, Trump is scheduled to address the upcoming Libertarian National Convention, aiming to attract independent voters. While Kennedy supports cryptocurrency, Trump has recently become more favorable towards bitcoin, whereas Biden’s rigorous enforcement actions have demonstrated zero love for the crypto industry.