Stephen Nereoff, a former advisor to Ethereum and a prominent figure in the blockchain and crypto patent field, expressed serious concerns regarding the recent investigation of Ethereum by the U.S. Securities and Exchange Commission.
Check out his comments on Ethereum's journey, the SEC investigation, and its impact on the broader crypto market.
The approval of Ethereum ETFs could come under increased scrutiny as the Securities and Exchange Commission has issued subpoenas to a number of companies and exchanges dealing with Ethereum and its potential ETFs.
In a recent post, Steven Nerayoff shared his thoughts on Ethereum's trajectory and the SEC investigation.
Nelayo, who has had many fights with Ethereum's CEO and Vitalik, and has accused them of frauds many times, expressed deep disappointment with Ethereum's evolution.
He said: Ethereum will continue to be the foundation of cryptocurrencies. ”
“The Ethereum issues, the SEC's research announcement, and the ETH Gate movement all demonstrate that our revolutionary project is nothing more than a deceptive database controlled by the few to manipulate the many,” Neleyoff said. “This is due to the founder's greed and willingness to forgive.” ”
Nereyoff further criticized Ethereum's growth, citing the prevalence of fraudulent Initial Coin Offerings (ICOs) and subsequent loss of trust and faith as a result of current ETH leadership deviating from its original vision for Ethereum. .
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Nereyov has repeatedly attacked Vitalik Buterin for not adhering to the principles of transparency and accountability. He calls for urgent action to rectify the situation.
While some have compared him to “Craig Wright of Ethereum,” Nereyov responded with a harsh comment: “Please don't compare me to the fraudsters Vitalik and Craig.”
“Utility tokens, ICOs, etc. have been integral to the explosion of Ethereum and the entire non-BTC sector,” said Neleyoff.
Neleyoff’s commentary adds further speculation to the ongoing Ethereum investigation as the SEC’s ETF decision looms. Although he almost paints himself as a benevolent angel, Nereioff's insights highlight the need for greater accountability and transparency in the crypto industry.
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