ethereum and its founders have been the subject of several accusations in recent weeks, ranging from fraud to the Chinese-run blockchain.
On-chain researcher Boring Sleuth has been one of the most vocal when it comes to the alleged wrongdoing of ethereum‘s founders, linking the network to the Chinese. The latest version of this is the researcher sharing research on the blockchain that could provide insight into the extent to which Chinese investors dominate the network.
Chinese investors own the majority of eth
In it eth/” rel=”nofollow noopener” target=”_blank”>investigation which was shared by Boring Sleuth, presented that Chinese investors could control a significant portion of the eth supply. This is because ethereum founder Vitalik Buterin reportedly prioritized Chinese investments in the network’s early days.
Buterin had apparently flown to China several times to meet with investors and would eventually even learn Mandarin to give a keynote speech. Buterin also met with Deng Chao, investment manager at Chinese group Wanxiang, where the ethereum founder had previously served as chief scientist.
Additionally, the report claims that investors were able to bypass ethereum ICO limits because the rules were not applied correctly. Chinese investors also reportedly had a lot of influence on major decisions like the ethereum hack and the eventual hard fork that split the network in two.
According to Boring Sleuth, Buterin’s official wallets were also funded by Wanxiang Group. The ethereum founder also previously worked at Fenbushi Capital and remains an advisor after leaving the job.
ethereum founders’ problems grow
Accusations of close ties to China are not the only serious accusations currently facing the ethereum network and its founders. A more pressing accusation comes from Steven Nerayoff, who was an advisor to the network in the early stages.
According to Nerayoff, he has evidence that ethereum co-founders Vitalik Buterin and Joseph Lubin carried out fraudulent activities. He also accused the founders of trying to lock him up with false accusations and promised to expose them.
The ethereum expert has said he plans to publish the proof this week. On Tuesday, when asked when the community should expect these tests to drop, Nerayoff said, “It should be within 48 hours, hopefully less. Logistics, setting up smart NFTs, etc.
For now, there is no indication what this “proof” might be, but if it is as conclusive as Nerayoff claims, then it could prove disastrous for the price of eth and cause a crash.
<img decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/P60ikEGq/" alt="ethereum Price Chart from Tradingview.com (Chinese ethereum Insider Investors)” width=”2650″ height=”1742″/>
eth bulls regain control | Source: ETHUSD on Tradingview.com
Featured image from crypto Daily, chart from Tradingview.com
