Ryan Selkis Messari

Depricated as of Oct 2022

Some CRYPKYP functionalities are depricated as of October 2022 and will no longer be populated until further development and future version.
Although all here is visible and interactable you can not Contribute to those articles.
Try looking at other information on the Platform and Contributing there!

Have a great day,

According to Messari, CEO: “Bear Markets Are Good for Cleaning House”

Ryan Selkis Messari
Ryan Selkis Messari / Image Credit: CRYPKYP
Source: Decrypt
1664184033 26 Sep / 09:20

While crypto winter has been difficult for most of the sector, Messari CEO Ryan Selkis believes that a bit of austerity is good for the industry and his conference.

Selkis, a veteran of the cryptocurrency sector who entered the field in 2013, has witnessed development with each bear market since it has driven some firms out of business and provided a way for the survivors to expand. This cyclical process has coupled with an evolving regulatory environment, which can reach a boiling point in a bull market.

"Bear markets are wonderful for gathering the appropriate folks in the room," Selkis told Decrypt at the Messari Mainnet conference this week in New York. "We remove any decaying timber."

Selkis noted that multiple officials, including representatives from the Commodity Futures Trading Commission (CFTC) and the Department of Justice (DOJ), were included as speakers at this year’s conference and that their presence reflects a growing shift in the crypto space toward regulators collaborating with companies.

“These should be talks,” Selkis stated, referring to the capacity to include regulators. As opposed to the traditional hammer hunting for a nail, most individuals appear to be on the same page regarding generating more constructive solutions.

Selkis conducted a fireside discussion onstage with CFTC Commissioner Caroline Pham, during which the two discussed how regulation might benefit the cryptocurrency business if clearer criteria for firms are produced. The CFTC and Securities and Exchange Commission’s authority is clarified (SEC).

On a second panel, Selkis met with Sanjeev Bhasker, who serves as U.S. Digital Currency Counsel for the U.S. Department of Justice’s Digital Currency Initiative. The panel examined the digital privacy of bitcoin use.

Not for the first time have regulators appeared on the Messari Mainnet. Last year, a representative of the SEC presented Do Kwon, co-founder of Terra Labs, with a subpoena at the top of an escalator as Kwon attended the conference. This year, their presence was scheduled. This subpoena pertained to Mirror, a Terra-based DeFi system that produced synthetic replicas of tradable real-world assets, including equities.

“Whenever you have a gathering like this, the rule of big numbers applies,” Selkis stated. “There will be hundreds of individuals here; some are international; if some are the subject of an inquiry, [a subpoena] might occur on occasion.”

All of this occurred before the collapse of Terra’s UST stablecoin this year, which wiped out billions of dollars in investor money and shook institutions that placed large bets on Terra’s network, such as lenders Celsius and Voyager and the now-defunct crypto hedge fund Three Arrows Capital.

Selkis feels that regulatory confrontation is inevitable when crypto developers “push the boundaries” of what is feasible. Things break, and people get in trouble; this has been the nature of cryptography from its inception.

Last News and Media
CRYPKYP contain links to third-party websites, resources, and advertisers. CRYPKYP does not control, sponsor, recommend or otherwise accept responsibility for any third-party content because we are not responsible for the availability of these outside resources or their contents or privacy practices. It will help if you direct any concerns regarding any third-party content to such a third party. We don't accept responsibility for the content of external websites linked to through the Site or the Services. Third-party content is accessed at the user's own risk. CRYPKYP distributes content from third-party publishers as indicated on the site from time to time mainly in Airdrops, News / Media, Whale Alerts, and Rumors. In these circumstances, CRYPKYP only provides limited stylistic input to the content. CRYPKYP does not verify and takes no responsibility for the accuracy of the content provided by any such third-party publishers.