Artist Stages Crypto Protest In Front Of SEC With “Rug Pull” Exhibit


Two years ago, controversial artist Nelson Saiers sparked a debate when he erected a massive inflatable rat outside the US Federal Reserve building in New York; now, the creator takes another jab at a US institution with a new crypto art exhibition.

Crypto Art Exhibition Takes Jab At Scams

According to a release shared with NewsBTC, a crypto art installation was placed in front of the US Securities and Exchange Commission (SEC). This time, Nelson Saiers portrayed a street vendor offering “rug pulls.”

In this latest protest exhibition, Saiers highlighted the crypto-based scam where the team behind a project disappears, leaving their community behind and “holding the bag” for an initial investment. The exhibit aimed to showcase the “ease” of these illegal activities.

Moreover, by setting the crypto art exhibit in front of the SEC, the artist potentially tried to send a message to the regulator: “rug pulls” happened right in front of the institution, seemingly without consequence.

This is the latest, but far from the only art exhibition where Saiers takes a hit on the US SEC and other financial regulators. As mentioned, the artist set an inflatable Bitcoin rat at the Fed’s building in 2020 and 2018.

A few months later, as the crypto market was experiencing a bull run that took the price of Bitcoin into uncharted territory, Saiers called cheap on the Fed with his “Cheap Money is Out-of-Order.” During this exhibition, which saw the sculpture of the Wall Street Bull interfered with a Saiers-made sculpture, the artist criticized the inflationary measures adopted by the financial institution.

Based in New York, Saiers completed a Ph.D. in mathematics and is a former trading group manager for Deutsche Bank AG and Chief Investment Officer for Saiers Capital. In art, Saiers is known as the “Warhol of Wall Street.”

As of this writing, Bitcoin trades at $26,200 with sideways movement across the board. The cryptocurrency has been unable to break above or below its current trading range and will likely continue this trajectory until late September.

At that time, macro-economic forces will likely come back into the picture, stirring volatility into the market. In particular, the spot Bitcoin Exchange Traded Fund (ETF) narrative, mainly in the hands of the SEC, is bound to influence the price of the number one crypto by market cap.

BTC’s price is moving sideways on the daily chart. Source: BTCUSDT on Tradingview

Cover image from Unsplash, chart from Tradingview



Source link: https://www.newsbtc.com/news/artist-stages-crypto-protest-in-front-of-us-sec-with-rug-pull-exhibit/

Sponsors

spot_img

Latest

University of Idaho Murders Yield Libel Lawsuit Against “Internet Sleuth”

From Scofield v. Guillard (D. Idaho), filed yesterday: In November 2022, four students at the University of Idaho were murdered at a home near the...

Peach Bellini (Only 3 Ingredients!)

Whether you are planning the perfect brunch menu or just have a craving for a fresh and bubbly delicious drink, the Peach Bellini...

Ebanie Bridges in stitches at Emma Jones’ funny response to creepy social media messages

Ebanie Bridges couldn’t help but laugh at Emma Jones’ comedy skit hitting out at creepy messages she is inundated with on Instagram. The broadcaster...

Token Scams Jump 41% to 350 Per Day, On-Chain Data Shows

Crypto is seeing rug pulls on an industrial scale. Last year, scammers deployed more than 350 fraudulent tokens per day.  Since 2022, token scams...

‘We are at war,’ Netanyahu declares after surprise attack on Israel by Hamas – POLITICO

Israel was struck by a surprise attack by Hamas early Saturday morning in one of the most serious escalations in years between Israel...