Ethereum a massive fraud? Say it ain't so. 🙄
"Ethereum is the Mother Asshole from which all Shitcoins spring forth" - Dr. Saifedean Ammous
In the complicated evolving field of cryptocurrency, Ethereum Foundation, which is second only to Bitcoin is embroiled in a dispute that involves allegations of multiagency government conspiracy to prosecute a whistleblower for a fabricated crime to monopolize cryptocurrency on behalf of the government.
Ethereum uses utility tokens (ETH) on a purportedly decentralized platform ensuring its network operates autonomously and transparently. The internal decentralized structure is the defining aspect of cryptocurrencies because only cryptocurrency networks that are sufficiently decentralized are not considered securities by the SEC (U.S. Securities and Exchange Commission) and thus would not require regulation and disclosures. ETH are not currently considered securities because they are not tied to a central entity’s profits or efforts.
One of the people first involved with Ethereum Foundation is Steven Nerayoff, a savant with over 40 patents in the AI and crypto sectors. Nerayoff claims he was a co-creator of Ethereum by providing initial capital and frameworks. The documents confirm he had initially declined what today would be considered a few billion dollars in Ether. Nerayoff states he was motivated to help the Ethereum project without initial compensation because he believed in the larger vision of a decentralized network that had the ability to help change the world for the greater good and to protect the project and people involved by eliminating any conflicts of interest. When Nerayoff disagreed about the internal structure of Ethereum, his Ethereum email was cut off. It was after this action that Nerayoff claims things took a strange turn.
Nerayoff hired a consultant named Michael Hlady, who used the alias Michael Peters, to do background checks for him. Hlady at various times falsely claimed to be a former member of the United States Military, a former government agent who had worked for the NSA, and the FBI, and CIA. Hlady made comments to persons in a cryptocurrency deal Nerayoff was involved with that laid groundwork for the FBI to charge Nerayoff with extortion. The FBI then obtained an arrest warrant but not a search warrant to search Nerayoff’s house and interrogate him about the players in the crypto world. FBI agents allegedly told Nerayoff, “we want dozens of convictions.” Very uncharacteristically, after pursuing Nerayoff in court, the government moved to dismiss its case against him stating it was “unable to prove the charges in the Indictment beyond a reasonable doubt.”
These events have led people in the crypto community to believe the government targeted Nerayoff in an attempt to capture the top figures in the crypto industry and monopolize cryptocurrency systems for the government. Stay tuned as OMG delves deeper into this unfolding story.
#ETHGATE
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