RYAN SΞAN ADAMS|11月 13, 2025 15:19
Well as long as we're all coming out, i'll add mine.
In 2019 before Bankless, I had a tiny proof of stake company called Mythos - just me and one employee, self funded.
We launched a staking service on the Cosmos network, it was early days, we were learning but I hoped to expand to other proof of stake networks.
Until I got a nasty gram from the SEC - full discovery for Mythos - they wanted all documents, all code, all financials - justification documents - many tens of thousands in legal fees and weeks of my time.
You have to send the information they demand (or face charges) then hope they don't use the information against you to drop more charges.
Complete chilling effect - was a staking service illegal in the U.S? No answers. It just depended if they wanted to prosecute me or not. Mob behavior.
I didn't have the resources to fight the U.S. gov. So i shut things down in 2020 and started Bankless with @TrustlessState.
I never heard back from the SEC.
Shot first, ask questions later - wrek anyone too small to fight. Make sure they're all too fearful to speak publicly.
This is why crypto people hate that regime.(RYAN SΞAN ADAMS - rsa.eth 🦄)
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