Two years ago, controversial artist Nelson Saiers sparked<\/a> 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.<\/strong><\/p>\n According to a release shared<\/a> 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 \u201crug pulls.\u201d<\/p>\n In this latest protest exhibition, Saiers highlighted the crypto-based scam where the team behind a project disappears, leaving their community behind and \u201cholding the bag\u201d for an initial investment. The exhibit aimed to showcase the \u201cease\u201d of these illegal activities.<\/p>\n Moreover, by setting the crypto art exhibit in front of the SEC, the artist potentially tried to send a message to the regulator: \u201crug pulls\u201d happened right in front of the institution, seemingly without consequence.<\/p>\n In an exclusive statement shared with NewsBTC, the artist believes the SEC\u2019s shortcomings extended beyond failing to safeguard retail customers. While he acknowledges they have a \u201cvery difficult job\u201d, Saiers believes that the regulator was \u201ctoo lax\u201d in some ways but also \u201ctoo aggressive in others.\u201d<\/p>\n The artist feels that the SEC\u2019s rejection of certain investments may have, \u201cunfortunately,\u201d led some investors into more fraudulent products.<\/p>\n 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\u2019s building in 2020 and 2018.<\/p>\n A few months later, as the crypto market was experiencing a bull run that took the price of Bitcoin into uncharted territory, Saiers called<\/a> cheap on the Fed with his \u201cCheap Money is Out-of-Order.\u201d 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.<\/p>\n Based in New York, Saiers completed a Ph.D. in mathematics at 23 in one year 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 \u201cWarhol of Wall Street.\u201d<\/p>\n 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.<\/p>\n 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.<\/p>\n Cover image from Unsplash, chart from Tradingview<\/p>\n<\/p><\/div>\nCrypto Art Exhibition Takes Jab At Scams<\/h2>\n
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