Messari CEO Calls SEC “Corrupt Regulator,” SEC Cautions About Fake News

• False news about the SEC’s approval of BlackRock’s ETF has been creating ripples in the crypto space.
• The SEC commented that the SEC itself is the most reliable source for news about the SEC.
• Messari CEO Ryan Selkis shared his strong opposition to the SEC’s views, addressing the agency as a “corrupt regulator”.

Recently, there has been a lot of debate over the origin of fake news regarding the Securities and Exchange Commission’s (SEC) approval of the first Bitcoin spot exchange-traded fund (ETF) for the asset management firm BlackRock.

The SEC addressed the news with a post on X (formerly Twitter) cautioning readers about the false news spread on the internet, assuring the reliability of the SEC. The regulators cited, “The best source of information about the SEC is the SEC.”

However, many opposing claims surfaced in response to the SEC’s statement. Messari CEO Ryan Selkis shared his opinion and lambasted the regulators. Selkis asserted that the best source to release news on the SEC is the court.

Earlier this year, the court firmly stood against the SEC’s “unlawful actions”, questioning the regulator’s intention in rejecting the investment firm Grayscale’s application for spot Bitcoin ETFs. In another court ruling, the SEC’s view of Ripple’s XRP as a security was rejected by the court.

Fox Business journalist Eleanor Terrett shared that the ETF approval news wasn’t accurate. She shared on X the unreliability of the news, pointing out that BlackRock clarified that the ETF application “is still under review”.

Reiterating his stark opposition to the SEC’s stance, Selkis addressed the agency as a “corrupt regulator”. He added, “I don’t trust the SEC because it’s a corrupt regulator that prioritizes Wall Street over retail, ESG disclosures over capital formation, and foreign entities over US innovators.”