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Crypto Banking Under Threat in the US: Messari Founder Tweets Cryptos Are Not Welcome

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Crypto Banking Under Threat in the US: Messari Founder Tweets Cryptos Are Not Welcome

According to reports, Ryan Selkis, founder of Messari, tweeted that in less than a week, the Crypto banking business had actually been closed. The message from Washington is clear that cryptocurrencies are not welcome in banking. From now on, the encryption industry should fully protect and promote USDC.

Messari founder: The encryption industry should fully protect and promote USDC

Analysis based on this information:


The founder of Messari, Ryan Selkis, recently tweeted that the Crypto banking business had been shut down in the United States, sending jitters through the crypto community. Selkis’s tweet comes at a time when the regulatory authorities are cracking down on the use of cryptocurrencies, marking a clear shift in the legal and regulatory landscape. In less than a week, the Crypto banking sector, which had grown to accommodate a large number of crypto users, has been forced to either shut down or adopt a new strategy.

According to Ryan Selkis, the message from Washington is clear that cryptocurrencies are not welcome in banking. This is a major warning to players in the crypto industry, signaling that they need to pay close attention to regulatory compliance. Selkis’s message has ignited a conversation about the future of cryptocurrencies in the United States and raised questions about the state of the industry as a whole.

As a response to the new regulatory crackdown, the encryption industry is being called upon to fully protect and promote USDC. USDC is a stablecoin that is backed by the US dollar, making it less volatile than most other cryptocurrencies. Selkis’s tweet suggests that the regulators are open to accepting USDC, but not all other cryptocurrencies. This presents an opportunity for the industry to embrace USDC and use it as a bridge to bring Crypto banking back into the fold.

However, a shift towards USDC is not without its challenges. The crypto industry has always been about decentralization and open access to financial services, but a push towards stablecoins backed by central banks may be seen by some as a step back from the original vision. While there is no doubt that USDC could help to stabilize the crypto industry, it may come with a loss of decentralization and user autonomy.

In conclusion, the crypto industry in the United States is facing a significant challenge as the regulatory authorities clamp down on the use of cryptocurrencies. Ryan Selkis’s tweet highlights the need for the industry to pay close attention to regulatory compliance and advocate for USDC as a way to bridge the gap. However, the push towards stablecoins backed by central banks may bring with it some unintended consequences, raising questions about user autonomy and the core values of the crypto industry.

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