In a current series of tweets, crypto expert Steven Nerayoff, developer of the energy token and ICO at Ethereum in 2014-2015, berated the SEC, declaring that it runs as a tactical system of the facility. “SEC is a tactical unit of the establishment. Courts are an effective weapon as time alone often defeats the target entity and freezes the market,” he tweeted. He goes on to declare that the genuine objective of this “war” is not versus crypto itself however rather that “crypto is the prize.”
Crypto Insider Unveils Vendetta Against SEC
Upon his vocal return to X (previously Twitter) in mid-September, Nerayoff triggered a vendetta versus the SEC with a series of assertions. He questioned the authenticity of “agency created law” and meant possible corruption, recommending that particular people might have been tactically positioned in the SEC with a particular function in mind.
“Is it possible that some people knew it wasn’t valid when giving or advising on the speech and the state of Ethereum (perhaps even under oath)? One would almost think William Hinman, Marc Berger and even Jay Clayton were sent to SEC for this very purpose…” he asserted, describing the so-called “ETH Gate“.
Highlighting the prospective breaches in regards to speculative purchasing throughout Ethereum’s ICO, Nerayoff meant having paperwork that might clarify abnormalities. Recounting his experience, Nerayoff mentioned, “Either way, I suppose an effective way to silence me would be to prosecute, publicly discredit and ultimately attempt to imprison me.”
In assistance of Nerayoff, Michael Scotto, his attorney, highlighted Nerayoff’s dedication to exposing the fact. “Steven Nerayoff fought and won the battle of a lifetime. Steve… is fully committed to making all his facts known at a time and manner that serves the interests of justice and the people. #staytuned,” Scotto tweeted.
Echoing these beliefs, on-chain scientist TruthLabs stated, “If you aren’t following Steven Nerayoff and his story, you should. He stood up for his beliefs… The FBI even put him in Van, and tried to Imprison him, in which he fought back for four years and WON.” Pro-XRP attorney John E Deaton kept it short and strange, merely tweeting, “Stay tuned.”
Who Is Steven Nerayoff?
Nerayoff, an essential figure in the early days of Ethereum and the CEO/Founder at Alchemist, dealt with criminal extortion charges for more than 3 and a half years. These accusations were dismissed by U.S. District Court Judge Margo Brodie of the Eastern District of New York in early May this year after federal district attorneys acknowledged their failure to corroborate the charges versus him.
Nerayoff declared he was the victim of a fancy FBI plan, stating his arrest included being provided “a clipboard with a list of names of hundreds of the top players in the crypto industry… and instructed to give the FBI dirt that would help them make ‘dozens of convictions’ in exchange for a lighter sentence.”
Despite the unusual relocation by district attorneys to drop the case post-indictment, the intention behind Nerayoff’s accusations versus the SEC and other authorities stays a location of extreme speculation. Maybe Nerayoff had something to pressure regulators with; perhaps he had the ability to leave it by utilizing some sort of bargaining chip, which he will now reveal.
True or not, the story of Steven Nerayoff is an unique one, guaranteeing more fascinating discoveries in the future.
At press time, overall crypto market cap stood at $1.035 trillion.
Featured image from iStock, chart from TradingView.com