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- Charles Hoskinson shared insights on Steven Nerayoff’s accusations against Vitalik Buterin.
- Steven Nerayoff recently shared a set of audio NFTs disclosing his conversations with Buterin in 2015.
- The recordings reportedly unveiled the fraudulent activities of Buterin, despite Nerayoff’s advice.
Charles Hoskinson, the founder of the Cardano ecosystem and co-founder of the Ethereum blockchain, commented on the recently controversial audio NFTs shared by Steven Nerayoff, a former advisor to Ethereum.
Hoskinson reiterated that Nerayoff had been analyzing the fall of Ethereum in its early stages, providing the founder, Vitalik Buterin, with a well-oriented “Ethereum rescue and restructure plan.”
Ethereum Restructuring https://t.co/YQ8awCviyU— Charles Hoskinson (@IOHK_Charles) November 16, 2023
On November 16, Nerayoff took to X (formerly Twitter) to disclose recordings from 2015 in the form of audio NFTs (non-fungible tokens), unearthing the fraudulent activities of Buterin. He shared NFTs that exposed five of the conversations that he had with the Ethereum founder.
ETHEREUM RESCUE & RESTRUCTURE PLAN:In late 2014 Ethereum was in trouble. Vitalik Buterin asked Steven Nerayoff to do a full diagnostic assessment and recommendations on how to save Ethereum and restructure it for long term success. Over the early months of 2015 Steven and… pic.twitter.com/o7H0dwMhiy— Steven Nerayoff (@StevenNerayoff) November 16, 2023
The recordings shed light on the initial unstable existence of Ethereum when Buterin sought advice from Nerayoff to tackle challenges. Posing questions on Ethereum’s long-term potential, these recordings unveiled the inconsistencies in the blockchain’s structure as well as the team’s decision-making, problem-solving, and leadership skills.
As stated by Nerayoff, the web3 infrastructure company Altura NFT assisted him in developing the audio NFTs from the recordings. Elaborating on the context of the conversations, Nerayoff pointed out that Ethereum was “in trouble in late 2014”, adding,
Vitalik Buterin asked Steven Nerayoff to do a full diagnostic assessment and recommendations on how to save Ethereum and restructure it for long-term success. Over the early months of 2015, Steven and Vitalik spoke many times.
One of the key concerns highlighted in Nerayoff’s critique of Buterin was the lack of proper financial management. Pointing out Buterin’s lethargy in hedging Ethereum’s Bitcoin holdings, Nerayoff stated, “The fact that the position wasn’t hedged in my opinion is inexcusable.”
Hoskinson reinforced Nerayoff’s assertions, enunciating more on the context. According to his explanations, the Bitcoin price plummeted in February 2015 following the crowd sale of Ethereum. Consequently, the ecosystem was left without sufficient gas in the tank. While the platform witnessed several infrastructural problems, Neyaroff advised Buterin to restructure the ecosystem, focusing on a new 2.0 version.
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