Ryan Selkis Steps Down from Messari
Ryan Selkis, the co-founder of blockchain analytics firm Messari, resigned as CEO on Friday following a series of politically charged tweets. Selkis, who had become a prominent figure in the crypto industry, announced his decision after facing backlash for his support of former President Donald Trump. Despite stepping down, he will continue to serve as an advisor to Messari.
Controversial Tweets and Backlash
Selkis briefly made his X account private on Thursday after telling a green card holder he hoped “we send you back.” The following day, he announced his resignation, acknowledging that his political rhetoric had put his team in harm’s way. “This week was the first week in 6.5 years that my politics and rhetoric put the team in harm’s way,” Selkis tweeted.
Rise in the Crypto Industry
Known for his brash personality, Selkis carved out a notable presence on social media and the conference circuit. He entered the crypto sector as a consultant before becoming a director at Digital Currency Group and later, managing director at CoinDesk. In early 2018, he co-founded Messari, aiming to compete with traditional financial services like Bloomberg.
Messari’s Growth and Achievements
Under Selkis’s leadership, Messari grew to become one of the most popular platforms in the crypto space. The firm raised $35 million in a Series B round in 2022 from Brevan Howard Digital, Point72, and Coinbase Ventures, valuing it at $300 million. Messari also organizes the New York-based conference Mainnet, where Selkis often conducted high-profile interviews.
Shift in Political Support
While Selkis previously supported President Biden, he became a vocal backer of Trump in recent months. Trump invited Selkis to speak at a Mar-a-Lago event in May, coinciding with Trump’s newfound support for crypto. Selkis used his influential X account, which boasts over 350,000 followers, to share his strong political opinions, including a tweet suggesting that “anyone that votes against Trump at this point can die in a fucking fire.”
Leadership Changes at Messari
Following his controversial tweets, Selkis had a “tough love” session with Messari’s leadership. He admitted to “running too hot” and acknowledged the need for change. Eric Turner, the chief revenue officer, will step in as interim CEO. “Messari would not be the company it is today, or what it will be in the future, without Ryan’s clear vision and devoted leadership,” the company stated on X.
Board and Team Reactions
Jeff Clavier, founder of venture firm Uncork Capital and a Messari board member, confirmed that the board and team decided Selkis should step down after his inflammatory posts. “From a company standpoint, there were things that were said that shouldn’t have been said,” Clavier explained. He noted that while Selkis might still be involved with Mainnet, his role as emcee is uncertain.
Conclusion
Ryan Selkis’s resignation as Messari CEO marks a significant shift in the crypto industry. His controversial tweets and subsequent departure highlight the challenges of balancing personal political views with professional responsibilities. As Eric Turner takes over as interim CEO, the industry will be watching closely to see how Messari navigates this transition and continues its growth trajectory.
Featured Image: Freepik
