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- Vitalik Buterin and Joseph Lubin are accused of sabotaging crypto by a former Ethereum advisor.
- Nerayoff asserted that the co-founders engaged in undisclosed dealings with the SEC.
- He also claimed that the Ethereum network never scaled due to Buterin.
Vitalik Buterin and Joseph Lubin, Ethereum’s co-founders, are accused of sabotaging crypto and engaging in fraudulent initial coin offerings by former advisor Steven Nerayoff. In several posts on “X” and an episode on the blockchain podcast channel Crypto Town Hall, Nerayoff explains he has recordings to buttress his claims.
Did Vitalik invent anything? No he did not. Ethereum never scaled bc of him. Only killer app was issuing Utility Tokens on ICOs both of which I invented. Vitalik & Lubin sabotaged crypto. Their focus was merely to issue hundreds or thousands of fraudulent ICOs fleecing people.— Steven Nerayoff (@StevenNerayoff) November 14, 2023
In his podcast appearance, Nerayoff asserted that Buterin and Lubin engaged in undisclosed dealings with government officials, specifically the U.S. Securities and Exchange Commission (SEC). The aim was, allegedly, to shape a regulatory environment favorable to Ethereum. He even hinted that theories about the ETH Gate might hold some truth.
pic.twitter.com/1cI2hSaYqV— Steven Nerayoff (@StevenNerayoff) November 11, 2023
The early advisor to Ethereum also wrote on X that the largest blockchain network never scaled due to Buterin. He added that the only “killer app” was the creation of utility tokens through ICOs, both of which he claims to have invented.
Additionally, Nerayoff said that the audios are “a rare, unedited historical view into what was really happening.” He asserts that they would give the community a glimpse of a few “crucial decisions [that were] made or not made that shaped much of crypto”.
On November 14, Nerayoff replied to a comment, announcing his plan to release the three-hour recording within the next 48 hours. He explained that the delay is due to logistical reasons and the setup process for “smart NFTs” (Non-Fungible Tokens). However, the recording has not yet been released as of press time.
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