Former ethereum advisor Steven Nerayoff leveled serious accusations against Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), accusing him of an undisclosed involvement with eth amid anticipation of an exchange-traded fund. ethereum exchange (ETF). . Through a statement on
The alleged connection between ethereum, Gensler and the PCC
Nerayoff alleged, “With speculation growing around an ethereum ETF, it is clear that the SEC, led by Gary Gensler, is more involved in eth than it seems.” He specifically accused Gensler of “indirectly approving Prometheum Inc to designate eth as a security that effectively backs an ETF covertly.” These claims are intertwined with suggestions of influence from the Chinese Communist Party (CCP), suggesting a complex interplay of interests affecting ethereum's regulatory journey.
With speculation growing around an ethereum ETF, it is evident that the SEC, led by Gary Gensler, is more involved in eth than it seems. Gensler's indirect approval for @PrometheumInc Designating eth as a security effectively backs an ETF covertly.
This decision shows that… pic.twitter.com/i0TVEdLDfq
– Steven Nerayoff (@StevenNerayoff) February 12, 2024
And he concludes: “This decision shows that Gensler's actions are under strong influence from the CCP, raising questions about the consequences of alternative actions. For Gensler, Lubin and Vitalik, what is at stake goes beyond the interests of investors; “Their decisions have led them towards an irreversible course.”
Highlighting the potential personal risks for Gensler and the ethereum founders, Nerayoff also stated, “Something tells me that a cell is not all it fears,” suggesting that the stakes extend far beyond regulatory repercussions.
Amid community speculation about the CCP investing in ethereum, Nerayoff responded: “Exactly! A lot of time has passed; There is no way for them to waste all their efforts.” This dialogue raises alarms about the centralization of ethereum and possible control by the CCP, with Nerayoff warning: “If the SEC classifies eth as a security, it should at least make it clear that you are not just investing in a currency, but in a centralized system “. asset controlled by the ECC.”
As Bitcoinist reported a few days ago, Nerayoff believes that the Chinese CCP is deeply involved in ethereum. According to on-chain research by TruthLabs (@BoringSleuth), he claims that the CCP controls approximately 66.6% of the eth supply. If verified, such a claim could significantly challenge perceptions of ethereum's security and decentralization.
In particular, a focal point of these accusations is the Chinese-American company Wanxiang (which finances Prometheum Inc). Prometheum Inc was the subject of heated debate recently for receiving approval from the SEC and FINRA as the only registered crypto securities platform in the US.
The uniqueness of this approval has drawn scrutiny from Republican lawmakers, led by Patrick McHenry, who question the SEC's transparency and the legitimacy of Prometheum's rapid rise without offering any deals.
Fighting for the truth
Amid growing demands for an investigation into ethereum, connections to the CCP, and SEC practices, on-chain researcher TruthLabs (@BoringSleuth), who is at the forefront of exposing these connections fixed: “Stand behind me. All. The last time I did this, they wanted me dead. We need you.”
Nerayoff fights at his side: “I am at your side dropping more bombs and demands. You never imagined the amount of receipts I kept. crypto was going to be the equalizer for all of us against the establishment. He was kidnapped by this Cabal and corrupt government agencies. It’s time we get it back.”
At the time of this publication, eth was trading at $2,645.
Featured image from YouTube, chart from TradingView.com
