In a recent tweet, Ryan Selkis, co-founder of on-chain data analytics firm Messari, made some bold predictions about the future of Bitcoin. He claimed that the cryptocurrency would reach the $100,000 mark within the next 12 months and that there would be more bank failures in the coming weeks.

Selkis’s prediction is based on the return of monetary easing by the Federal Reserve, in which interest rates are cut and quantitative easing is resumed. He believes that this will lead to sustained moderate inflation, which will cause Bitcoin to rise in value.

According to Selkis, Bitcoin is perceived as healthy money amid the continued devaluation of the dollar. He believes that companies like MicroStrategy will accumulate cryptocurrencies faster than federal regulators can move to shut down assets, such as Bitcoin regulation.

Selkis’s optimistic bet on the future of Bitcoin is that it will change from ‘outside money’ to ‘healthy money’ and reach $100,000. He emphasized that Bitcoin is perceived as a life raft and peaceful exit option in the current economic climate.

However, the key to this prediction is that institutions must be able to buy and defend Bitcoin alongside individual investors. Selkis predicts that institutions will buy Bitcoin faster than federal regulators can shut down assets.

As a recent report by AZCoin News, Balaji Srinivasan, the former CTO of Coinbase, has made a daring prediction that Bitcoin’s value will hit $1 million by June 17th. To demonstrate his confidence in his forecast, he has proposed a $1 million wager. The bet was set in motion on March 17th when a Twitter user known as James Medlock offered to bet anyone $1 million that the United States would not suffer from hyperinflation. Balaji accepted the challenge and tweeted, “I will take that bet. You buy 1 BTC. I will send $1M USD. This is ~40:1 odds as 1 BTC is worth ~$26k. The term is 90 days.”

#Bitcoin #BTC #BTC100k #Messari #azcoinnews

This article was republished from azcoinnews.com

In a recent tweet, Ryan Selkis, the CEO of Messari, has called for urgent action from Congress on digital assets, citing the economic and technical potential of cryptocurrencies and refuting misinformation. Selkis has sent a letter to a dozen Congressional leaders outlining the need for prudent, effective crypto legislation and calling for the exercise of oversight authority over financial regulators.

The letter is said to be thoroughly documented and Selkis has invited other founders and investors to reach out for more details. He also emphasized the need for a coordinated campaign for crypto, stating that the status quo will harm the US economy and national security.

@azcoinnews

Selkis highlights three core pieces of legislation that are urgently required: stablecoins and banking rules and regulations, hosted exchange and custody registration norms, and token reporting and disclosures rules. He suggests breaking these issues up to focus on the most pressing needs and not to conflate different policy requirements.

Selkis believes that a campaign for crypto requires the coordination of multiple entities and hundreds of leaders, as well as funding. He argues that the industry is under direct attack, and state authorities are flexing their muscles. Selkis suggests that a coordinated effort is required to fight back calmly, intelligently, and effectively.

The CEO of Messari is not alone in his call for more effective crypto legislation. The Infrastructure Bill debacle in 2021 highlighted the urgent need for clear regulations to support the burgeoning digital asset industry. Many other industry leaders have called for more clarity and stability in crypto regulations, and Selkis’s letter to Congress represents a significant step forward in this campaign.

The coming weeks and months will be crucial in determining the future direction of the US digital asset industry. The coordination of multiple entities and leaders, as well as funding, will be required to fight back against what Selkis sees as direct attacks on the industry. However, he is optimistic that with a coordinated effort, the industry can win this battle and continue to grow and thrive.

#Messari #RyanSelkis #Congress #azcoinnews #crypto2023

This article was republished from azcoinnews.com

A well-known Twitter account claiming to be for amusement, The Digital Asset Investor, shared a message by Ryan Selkis, the founder and CEO of the market information platform #Messari in which he argued that the US needed to "limit or prohibit" #crypto seizure. The Digital Asset Investor said that if a "tyrannical government" chose to confiscate crypto, it will develop tactics to either make the investors part with it or make the asset "not worth possessing".

Importantly, on March 19, the Digital Asset Investor tweeted that the "Endgame question" always concerns the likelihood of either maintaining the assets or even receiving compensation:

In a tweet on March 18, Selkis reiterated his previous assertion that "private property seizures are impossible," adding:

Gordon Gekko, the principal architect of the meta governance protocol PowerPool, responded to Selkis' tweet by saying that the right to "freely manage digital assets on decentralized public ledgers" should be added to the Bill of Rights and that the Congress should never enact legislation that would restrict this right.

Notably, on March 16, Selkis tweeted about some issues, including the limitations on ownership of cryptocurrency assets as well as the development and security of digital assets, that Congress should take into account:

Astonishingly, the CEO of Messari emphasized that Congress should vehemently reject any measures made to criminalize the holding of cryptocurrencies, adding that all "efforts to unfairly target or hamper the development, accessibility, and security" of digital assets should be under its supervision.

Astonishingly, the CEO of Messari emphasized that Congress should vehemently reject any measures made to criminalize the holding of cryptocurrencies, adding that all "efforts to unfairly target or hamper the development, accessibility, and security" of digital assets should be under its supervision.

The US crypto aspirants aggressively replied as the Digital Asset Investor reposted Selkis' material, highlighting Congress' responsibility to help the crypto business. Many tweeters made the suggestion that finding other countries is preferable if the US is hostile to cryptocurrencies.

Eleanor Terrett, a Fox Business correspondent, sees three outcomes for summary judgment in the Ripple-SEC case.

“For those not in the XRP community: If Judge Torres comes back with a decision on summary judgment in the Ripple case this week, one of three things could happen: She could side with Ripple, she could side with the SEC, or she could decide the case should go to trial,” Terrett tweeted.

According to CryptoLaw founder John Deaton, Judge Torres will favor Ripple CEO Brad Garlinghouse and Chris Larsen. He believes Judge Torres will declare that no reasonable jury could conclude that the two executives were irresponsible in failing to recognize XRP as a security when the SEC did not.

In the most recent developments in the case, Ripple defendants have presented Judge Michael Wiles’ decision in the Voyager bankruptcy case, which rejected the SEC’s concerns, in support of its fair notice defense.

Messari’s Ryan Selkis convinced XRP Ledger deserves to go global

Messari co-founder and CEO Ryan Selkis have joined Ripple as a new supporter. Turning to his preferred communication channel, Selkis stated that, despite his previous criticism of Ripple for various reasons, he wants the company to prevail in its ongoing litigation against the Securities and Exchange Commission (SEC).

Selkis believes the XRP-SEC lawsuit is “overreaching,” joining other loud critics criticizing the market regulator for going after crypto businesses. Selkis stated in a Messari thread that “XRP Ledger should be afforded the opportunity to compete fairly on digital payments infra globally” due to the availability of demand.

Despite the SEC litigation, Ripple has constantly extended its operations beyond the borders of the United States. With strategic collaborations signed across the board, XRP Ledger’s payment infrastructure is now being used for remittance purposes in more regions than ever. According to the Messari update, XRP Ledger is poised to deliver financial services to people and established financial institutions such as central banks.

One critical question is whether Messari’s new assistance from Ryan Selkis will make a difference in the trajectory of the litigation moving forward. Since the beginning of the legal battle, Ripple has supported pro-crypto lawyers like John Deaton and James K. Filan, who have helped shape the impressions of both the court and the public.

While Messari’s voice will help legitimize the Ripple business model and technology among the general public, it may have little to no weight on the lawsuit, especially when the summary judgment phase is likely.

#Ripple #XRP #Messari #azcoinnews #azcoin

This article was republished from azcoinnews.com

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Messari and its founder came under criticism from Cardano community members over their 2024 crypto report. 

Cardano community members accuse the report of deliberately ignoring Cardano. 

The members argue Cardano’s several strides, development, and market performance make it worthy of mention.

Cryptocurrency market intelligence platform Messari and its founder, Ryan Selkis, came under fire from Cardano community members following their 2024 Messari crypto report.

Cardano community members complained that the report largely ignored the Cardano blockchain and its strides this year. A community member pointed out that Cardano had no single mention in the report, despite Bitcoin, Ethereum, and Solana being mentioned 178, 96, and 65 times, respectively. BNB and XRP were also talked about in the report. 

Word count in the 2024 Messari crypto report.Bitcoin 178Ethereum 96Solana 65BNB 6XRP 3Cardano 0#Cardano $ADA https://t.co/JkJqoHGdDJ

— St₳kΣ with Pride 🌈 (@StakeWithPride) December 19, 2023

The criticisms flowing from the community allege that the omission in the report was a deliberate act. Reacting, a notable Cardano community member known as ADA Whale on X tweeted that the report highlights the immaturity of the crypto space amidst allegations of networks “paying-to-play” in the ecosystem. 

According to the user, Cardano’s omission further highlights the shifting stance amongst crypto natives towards centralization. “There’s an unspoken belief amongst some that crypto should move on from its origins of permissionless decentralized protocols, towards fast centralized payment systems, and Cardano has less of a place in that twisted future vision.”

Furthermore, the user argued that, given Cardano’s prominence and popularity, it should have been covered in the report. ADA Whale wrote:  

Cardano has for years been one of, if not the largest and most vocal group on here. Anyone taking a quick look will find evidence of a huge amount of people building and general high levels of enthusiasm.

Moreover, ADA Whale claimed that ADA was one of the “big gainers” in the last few weeks. He added, “We even have paradigm-changing DeFi apps launching soon, as well as some of the biggest non-DeFi crypto projects with potential for mass adoption.”

Given the strides achieved by the network this year, the community member likened the omission to making a report “about the biggest countries in the world by population and ignoring China.” 

Additionally, ADA Whale argued that Cardano’s traditional vision of crypto is another reason why it should be covered. “Shops like @MessariCrypto pretending to care about crypto aren’t just damaging Cardano, they’re damaging crypto’s core principles,” ADA Whale stated. 

The post Cardano Community up in Arms Over Messari 2024 Report Omission appeared first on Coin Edition.

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.”

Careful what you read on the internet. The best source of information about the SEC is the SEC.

— U.S. Securities and Exchange Commission (@SECGov) October 16, 2023

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.

The best source of info about the SEC is the courts, who have been beating the sh*t out of you all year.I don’t trust SEC because it’s a corrupt regulator that prioritizes Wall Street over retail, ESG disclosures over capital formation, and foreign entities over US innovators.

— Ryan Selkis 🪳 (@twobitidiot) October 16, 2023

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.”

The post Messari CEO Calls SEC “Corrupt Regulator,” SEC Cautions About Fake News appeared first on Coin Edition.