Allegations Shake Ethereum: Buterin and SEC Connections Questioned

In recent discussions regarding the development of Web3, Steven Nerayoff, a former Ethereum Foundation advisor, voiced concerns about potential manipulations by Vitalik Buterin and his associates.

Nerayoff suggested that during Web3’s early stages, Buterin might have wielded control for personal gain, shielded by unidentified figures.

These remarks surfaced after Buterin expressed disappointment about the deviated path of Web3’s original vision. Buterin, known for pioneering Ethereum in 2015, remains a significant figure in the cryptocurrency landscape.

Nerayoff’s allegations against Buterin encompass a series of claims alleging misconduct involving former officials of the US Securities and Exchange Commission (SEC).

These claims, collectively termed “ETHGate,” imply Ethereum may have received preferential treatment from regulators due to purported ties between SEC officials and Ethereum’s founders.

This allegedly led the SEC to exclude only Bitcoin and Ethereum from the securities category.

Notably, Charles Hoskinson and others in the crypto space have echoed concerns about regulatory bias, especially with increased scrutiny from the SEC.

Despite Ethereum’s standing as the second-largest blockchain by market capitalization, its dominance faces challenges, notably from the rising prominence of Solana. Solana has witnessed substantial price growth and briefly outranked Ethereum on certain key metrics.

Additionally, Nerayoff expressed willingness to engage in a discussion with respected crypto journalist Laura Shin regarding the 2016 DAO attack. According to Nerayoff, he’s proposed a live interview to delve into this event, asserting it might have been an internal operation orchestrated by Ethereum executives.

Author

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.