Investing.com | Editor Ambhini Aishwarya
Revealed Nov 06, 2023 05:13AM ET
In a sequence of allegations which have sparked debates throughout the cryptocurrency group, Steven Nerayoff, a former advisor to Ethereum, has publicly accused Ethereum’s co-founders Vitalik Buterin and Joseph Lubin of fraudulent actions on social platform X. The accusations, made Sunday, recommend that the dimensions of the alleged fraud exceeds even that of the infamous FTX scandal involving $8 billion misappropriation.
Nerayoff beforehand implicated the Ethereum co-founders in a personality assassination plot tied to an Ethereum Preliminary Coin Providing (ICO). He now describes Ethereum as an “elephant within the room,” implying that the problems surrounding it are a bigger concern than the FTX scandal.
The ex-advisor additionally suggests secret dealings between Ethereum and high-ranking U.S. officers like SEC Chairman Gary Gensler and former SEC Chairperson Jay Clayton. These claims, whereas at the moment unverified, have raised considerations throughout the cryptocurrency group.
The accusations in opposition to Buterin and Lubin come within the wake of Sam Bankman-Fried’s fraud at his crypto change FTX and Alameda Analysis. Bankman-Fried now faces a possible 110-year jail sentence for his publicly uncovered fraudulent actions.
If confirmed true, these allegations might considerably undermine Ethereum’s credibility and legality. Nevertheless, you will need to word that these claims stay unsubstantiated right now.
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Written By: Investing.com