XRP vs SEC Case Inches Closer to Unraveling ETHGate Conspiracy

Steven Nerayoff alleges hidden motives behind SEC’s 2018 ‘Ethereum free pass’ speech.
Deaton and Nerayoff tag-team make revelations leading to the unraveling of ETH Gate.
The XRP community raises concerns over potential SEC corruption and conflicts of interest.

The Deaton and Nerayoff tag-team is leading to shocking reveals amid the SEC vs XRP hearing aftermath. In detail, crypto adviser Steven Nerayoff has made startling allegations about William Hinman’s infamous 2018 speech.

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In fact, Nerayoff declares that the date of the speech will “live in infamy”. Hinman, the former director of the SEC’s Corporation Finance division, delivered a speech on June 14, 2018, in which he classified Ethereum and Bitcoin as non-securities.

Nerayoff’s comments came in response to a document shared by prominent XRP community member @digitalassetbuy, which detailed a meeting between key crypto stakeholders and the SEC’s Corporation Finance staff on March 28, 2018. This meeting has been described as the event that led to the controversial ‘Ethereum free pass’ speech by Hinman.

Nerayoff implied that there is more to Hinman’s speech than meets the eye and suggests that undisclosed motives were behind it. He stated, “They’re hiding more than the motives behind the speech.”

Notably, Steven Nerayoff was charged with alleged extortion by the FBI in 2019, but the case was dropped in May 2023. He has since claimed that he was targeted by the FBI due to his knowledge of Ethereum’s initial coin offering (ICO), implicating other government agencies, including the SEC and the Justice Department.

The debate over Hinman’s speech has been reignited recently with Empower Oversight’s FOIA request. The organization seeks communication records between former SEC Chair Jay Clayton and others concerning cryptocurrencies. This FOIA submission focuses on the SEC’s handling of crypto enforcement during Clayton’s tenure, especially in light of the SEC’s lawsuit against Ripple and XRP.

XRP enthusiasts and lawyers have raised concerns about potential conflicts of interest and corruption within the SEC. Attorney John Deaton, who represents thousands of XRP holders in the Ripple lawsuit, highlights that Hinman never sent a copy of the “biggest speech in the crypto industry” to SEC Commissioner Hester Peirce, also known as ‘Crypto-Mom’.

These revelations and ongoing discussions suggest a growing scrutiny of the SEC’s actions and policies in the crypto space. As the Deaton-Nerayoff tag-team takes us deeper into the ETHGate conspiracy, the crypto community hopes for more transparency and accountability within the space.

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Lauren Cole

A focused and vigilant storyteller for all things blockchain and cryptocurrency. Besides consuming every piece of literature about the metaverse, she can often be found at industry convections looking for the latest scoop.