As it is known, the SEC is trying to qualify the largest altcoin Ethereum as a security.
While these steps of the SEC drew the reaction of the entire cryptocurrency market, especially Ethereum, Consensys, a great supporter of Ethereum, filed a lawsuit against the SEC yesterday.
In this case, Coinsensys asked the court to determine that ETH is not a security.
While the Ethereum case filed by Consensys with the SEC continues to be talked about in the market, former Ethereum advisor Steven Nerayoff claimed that Ethereum is really a security in his post.
Arguing that Ethereum has acted as a security since its ICO and has been centralized since its inception, Steven Nerayoff described the lawsuit filed by Consensys as a move to “cover up” their previous secret agreement that ETH was a security. .
“Consensys founder Joseph Lubin's significant purchase during the Ethereum ICO amounted to securities fraud and also turned ETH into a security. Gary Gensler later reported that Lubin bought 9.5% of the ICO He confirmed this by stating that he received it.
He met with Bill Hinman before his speech declaring that ETH is not a security based on Ethereum's supposed decentralization. This meeting between the two was intended to hide the fact that ETH is a security.
It is an undeniable fact that Ethereum is centralized and has been a security since the ICO. Coinsensys' lawsuit move is nothing more than another attempt to distract people from the truth and cover up.
They are launching a new effort to hide collusion between the SEC and the Ethereum Mafia. Lubin's actions indicate a desperate attempt to stay afloat. Ethereum is NOT decentralized, and they knew it from the beginning: Lubin, Hinman, Gensler, they all knew it.
Their aim in the latest lawsuit move is to create an atmosphere of uncertainty in the situation and to hide their cooperation by pretending to be against each other. However, their actions are not subtle enough and we see their every move. “
Nerayoff recently came out against the SEC over the Ethereum case and accused the SEC of bias in the XRP case against Ripple.
“The XRP case exposed collusion between the SEC, FBI, DOJ and other major agencies to monopolize the crypto market,” Nerayoff said.
*This is not investment advice.