In a bold move, former Ethereum advisor Steven Nerayoff has reaffirmed that Ethereum (ETH) is indeed a security. In a series of scathing posts on social media platform X, Nerayoff accused Ethereum of being centralized since its inception. Moreover, he alleged that it has operated as a security since its initial coin offering (ICO).
Ex-Ethereum Advisor Reacts To Consensys Vs SEC Lawsuit
Nerayoff’s affirmation comes amidst an ongoing legal battle between Joseph Lubin’s Consensys and the U.S. Securities and Exchange Commission (SEC). The lawsuit, filed by Consensys, aims to prevent Ethereum from being declared a security. The former Ethereum advisor labeled it as a move to “cover up” prior collusion.
In one of his posts, Nerayoff declared, “It’s an undeniable fact that Ethereum is centralized and has been a security since the ICO. This move is to distract people from the truth and just another cover-up.” Moreover, he further accused Ethereum of engaging in “major securitie
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