After gaining prominence in the crypto industry as the cofounder of the blockchain analytics firm Messari and organizer of the popular conference Mainnet, Ryan Selkis stepped down as CEO on Friday after a series of politically charged tweets tied to his recent support for former President Donald Trump.
Selkis briefly took his X account private on Thursday after telling a green card holder he hoped “we send you back,” and a day later announce he had decided to step aside as CEO. “This week was the first week in 6.5 years that my politics and rhetoric put the team in harms way [sic],” tweeted Selkis, who is staying on as an advisor to Messari.
‘Tough love’
In an industry known for brash personalities and rapid flameouts, Selkis carved out a name for himself as one of the most visible figures on Twitter and across the conference circuit. After entering the crypto sector as a consultant, he became a director at the digital assets empire Digital Currency Group before joining its portfolio company, the crypto news outlet CoinDesk, as managing director, right before the 2017 bull market. He left in early 2018 to confound Messari.
Intended to compete with traditional financial services like Bloomberg, Messari became one of the most popular platforms in crypto, raising a series of rounds including a $35 million Series B in 2022 from Brevan Howard Digital, Point72, and Coinbase Ventures that valued the firm at $300 million. Messari also runs the New York-based conference Mainnet, where Selkis has had a leading role, conducting onstage interviews with figures like Vivek Ramaswamy.
Representatives from Brevan Howard Digital, Point72 Ventures, and Coinbase Ventures declined to comment.
While Selkis was a former supporter of President Biden, according to a recent profile in DL News, he has become a vocal backer of Trump in recent months. In May, Trump invited Selkis to speak on stage at an event on Mar-a-Lago, which coincided with the presidential candidate’s new support for crypto. Since then, Selkis has used his influential X account—with more than 350,000 followers—to share his increasingly charged thoughts. That included posting that “anyone that votes against Trump at this point can die in a fucking fire,” as well as his reply to a green holder that he hopes he does not become a citizen.
While Selkis’s tweets have taken a defiant tone, he received a “tough love” session from Messari leadership, according to a post on Thursday, and admitted that he “ran too hot.”
Eric Turner, the chief revenue officer, will take over 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 said in a post on X.
After publication, Fortune spoke with Jeff Clavier, the founder of the venture firm Uncork Capital and a Messari board member. He said the board and team made the decision together with Selkis after he “went too far” with some of his posts, confirming the company’s public announcement.
“From a company standpoint, there were things that were said that shouldn’t have been said,” Clavier said. “We agreed that the best was to hand over the helm to [Turner], and we announced that to the team this morning.”
Clavier added that Selkis “will probably” be involved with Mainnet, although not necessarily as the emcee, a role Selkis has long held. “Ryan is an open book,” Clavier said. “The dude doesn’t hold back.”