Ethereum Is Owned by This Wall Street Giant: Politician

• Politician Jane Adams is claiming that JPMorgan owns Ethereum.
• The allegation did not sit well with Ethereum supporters, claiming Adams is spreading disinformation.
• A Swiss judge has approved a request to audit ConsenSys for the controversial deal named Project North Star.

Bitcoin-loving politician Jane Adams has made a name for herself by making wild accusations about crypto. This time, her target is Ethereum. According to her, banking giant JPMorgan owns the Ethereum network in a de facto fashion.

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The above allegation did not sit well with many Ethereum supporters, with many claiming Adams is only spreading disinformation. In fact, even the official social media handle of ETHDenver replied, inviting Adams to its upcoming gathering in February to understand how the network functions.

As to the reason for the above allegation, Adams explained that JPMorgan owns a majority stake at ConsenSys, a critical player in the Ethereum network. For the previously uninitiated, this relates to a previous event in which JPMorgan acquired a 10% stake in ConsenSys Software Incorporated (CSI) through a deal known as Project North Star.

This deal is being investigated at the moment. According to Finextra, the Swiss court has recently granted an audit request that will look into the $715 million deal. Shareholders who requested the audit claim that the executives at ConsenSys did not consult them prior to the deal.

Arthur Falls, one of the shareholders of ConsenSys, said:

“The previous ruling that ordered the authorization of the Project North Star transaction be put to a shareholder vote means that, regardless of the outcome of the vote, we will be able to challenge the legality of the transaction in court, where Joe Lubin does not have the advantage of being majority shareholder.”

Joseph Lubin, also referred to by others as Joe, is one of Ethereum’s founders and is the CEO of ConsenSys. Meanwhile, JPMorgan is already processing more than $1 billion worth of transactions per day using blockchain infrastructure.