Could OG Ethereum Co-Creator Derail the SECs Rampage and Expose ETHGate?

September 22, 2023 at 02:26 PM GST 2 mins read Market News

Steven Nerayoff reemerges in the crypto community amid the ‘ETHGate’ controversy.
Collaboration with John Deaton may challenge SEC’s perceived biases.
Nerayoff’s Twitter statement highlights concerns about crypto industry manipulation.

In a surprising turn of events, Steven Nerayoff, one of the original co-creators of Ethereum, has re-entered the crypto community amidst a growing conspiracy known as ‘ETHGate’. Specifically, this conspiracy alleges that the U.S’ Securities and Exchange Commission (SEC) is targeting cryptos, except for Ethereum, in a biased manner.

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@SECGov is a tactical unit of the establishment. Courts are an effective weapon as time alone often defeats the target entity and freezes the market while other parts of the government work to co-opt the industry. Ultimately, this isn’t a war against crypto. Crypto is the prize.… https://t.co/7VXTUbvxeE
— Steven Nerayoff (@StevenNerayoff) September 21, 2023

In particular, Nerayoff’s return is generating significant attention as he has the potential to shed light on the ETHGate controversy. He will likely collaborate with John Deaton, the attorney representing XRP holders in the ongoing Ripple vs. SEC case. This partnership could shift the narrative and potentially expose perceived biases within the SEC.

As we can see, Nerayoff took to Twitter to share his perspective on the matter. He asserted that the SEC operates as a tactical unit of the establishment, using the legal system to undermine target entities and stall markets while other government agencies attempt to influence the crypto industry. He emphasized that the battle isn’t against cryptos themselves but rather a competition for control over this emerging sector.

In his tweet, Nerayoff expressed his surprise at the situation, stating that he initially believed he was assisting in creating a better world through crypto. However, he alleges that some individuals sought to imprison him for four years to conceal their actions, with assistance from undisclosed government entities. Nerayoff’s unexpected return has raised questions about the ongoing dynamics within the crypto regulatory landscape.

This development comes as the crypto community closely watches regulatory actions around the world, particularly in the United States. The SEC’s approach to cryptos has been a subject of debate, with critics suggesting that it lacks clarity and disproportionately targets certain projects. Nerayoff’s involvement could provide valuable insights into the ongoing disputes surrounding crypto regulations.