{"id":290267,"date":"2024-04-26T12:44:03","date_gmt":"2024-04-26T07:14:03","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=290267"},"modified":"2024-04-26T12:44:03","modified_gmt":"2024-04-26T07:14:03","slug":"ex-eth-advisor-reaffirms-eth-a-security-amid-consensys-vs-sec-case-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ex-eth-advisor-reaffirms-eth-a-security-amid-consensys-vs-sec-case-crypto-news\/","title":{"rendered":"Ex-ETH Advisor Reaffirms ETH A Security Amid Consensys Vs SEC Case – Crypto News"},"content":{"rendered":"

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In a bold move, former Ethereum advisor Steven Nerayoff has reaffirmed that Ethereum (ETH) is indeed a security. In a series of scathing posts on social media platform X, Nerayoff accused Ethereum of being centralized since its inception. Moreover, he alleged that it has operated as a security since its initial coin offering (ICO).<\/p>\n

Ex-Ethereum Advisor Reacts To Consensys Vs SEC Lawsuit<\/h2>\n

Nerayoff\u2019s affirmation comes amidst an ongoing legal battle between Joseph Lubin\u2019s Consensys and the U.S. Securities and Exchange Commission (SEC). The lawsuit, filed by Consensys, aims to prevent Ethereum from being declared a security. The former Ethereum advisor labeled it as a move to \u201ccover up\u201d prior collusion.<\/p>\n

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In one of his posts, Nerayoff declared, \u201cIt\u2019s an undeniable fact that Ethereum is centralized and has been a security since the ICO. This move is to distract people from the truth and just another cover-up.\u201d Moreover, he further accused Ethereum of engaging in \u201cmajor securities fraud\u201d through speculative ICO purchases and undisclosed whale holdings.<\/p>\n

Furthermore, the former advisor also spotlighted key figures within Ethereum\u2019s leadership, including Joseph Lubin and Vitalik Buterin, alleging their involvement in fraudulent activities. Nerayoff pointed to Lubin\u2019s significant purchases during the ICO as evidence of securities fraud, a claim supported by SEC Chair Gary Gensler\u2019s assertion that Lubin acquired 9.5% of the ICO.<\/p>\n

In addition, Nerayoff alleged collusion between Ethereum and the SEC. He cited a meeting between Lubin and former SEC official Bill Hinman prior to the latter\u2019s speech declaring Ethereum not a security. According to Nerayoff, this coordinated effort aimed to conceal Ethereum\u2019s true centralized nature, contradicting claims of decentralization.<\/p>\n

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Also Read:\u00a0Breaking: Consensys Fights for Ethereum, Sues SEC to Block Regulation<\/a><\/strong><\/p>\n

Steven Nerayoff Connects XRP\u2019s Legal Woes To ETH<\/h2>\n

Furthermore, in a surprising twist, Nerayoff linked Ethereum\u2019s controversy to the ongoing SEC case against Ripple. He suggested a broader conspiracy to monopolize the crypto market. Additionally, he accused the SEC of biased treatment towards Ripple while targeting Ethereum\u2019s only competition, echoing sentiments from the XRP community.<\/p>\n

\u201cThe XRP case has exposed the collusion between the SEC, FBI, DOJ, and other big entities to monopolize the crypto market,\u201d Nerayoff asserted. Furthermore, he called for Ripple to be exonerated and Ethereum to be held accountable for its alleged misconduct.<\/p>\n

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Nerayoff\u2019s allegations have reignited scrutiny over Ethereum\u2019s regulatory status. Moreover, it has raised questions about the SEC\u2019s handling of crypto enforcement. As the legal battle between Consensys and the SEC unfolds, the community awaits clarity on Ethereum\u2019s regulatory status.<\/p>\n

Also Read:\u00a0Ethereum Price Analysis: Will ETH ETF Denial Jitters Trigger Sell-Off To $2,500?<\/a><\/strong><\/p>\n

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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In a bold move, former Ethereum advisor Steven Nerayoff has reaffirmed that Ethereum (ETH) is indeed a security. In a series of scathing posts on social media platform X, Nerayoff accused Ethereum of being centralized since its inception. Moreover, he alleged that it has operated as a security since its initial coin offering (ICO). Ex-Ethereum […]<\/p>\n","protected":false},"author":2,"featured_media":284831,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-290267","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/290267","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=290267"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/290267\/revisions"}],"predecessor-version":[{"id":290269,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/290267\/revisions\/290269"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/284831"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=290267"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=290267"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=290267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}