Ethereum founders accused of fraud surpassing FTX scandal By … – Investing.com

In a series of allegations that have sparked debates within the cryptocurrency community, Steven Nerayoff, a former advisor to Ethereum, has publicly accused Ethereum’s co-founders Vitalik Buterin and Joseph Lubin of fraudulent activities on social platform X. The accusations, made Sunday, suggest that the scale of the alleged fraud exceeds even that of the notorious FTX scandal involving $8 billion misappropriation.

Nerayoff previously implicated the Ethereum co-founders in a character assassination plot tied to an Ethereum Initial Coin Offering (ICO). He now describes Ethereum as an “elephant in the room,” implying that the issues surrounding it are a larger concern than the FTX scandal.

The ex-advisor also suggests secret dealings between Ethereum and high-ranking U.S. officials like SEC Chairman Gary Gensler and former SEC Chairperson Jay Clayton. These claims, while currently unverified, have raised concerns within the cryptocurrency community.

The accusations against Buterin and Lubin come in the wake of Sam Bankman-Fried’s fraud at his crypto exchange FTX and Alameda Research. Bankman-Fried now faces a potential 110-year prison sentence for his publicly exposed fraudulent activities.

If proven true, these allegations could significantly undermine Ethereum’s credibility and legality. However, it is important to note that these claims remain unsubstantiated at this time.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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