Documents Suggest Ethereum’s Creators May Have Misled the SEC
An independent investigator says Lubin concealed information about the largest Ethereum backers.
Mr. Huber, an on-chain investigator, claims Lubin signed a paper certifying that he gave honest answers to questions posed by William Hinman, a former SEC officer, concerning the distribution and mining power around ether tokens.
Huber, on the other hand, argues Lubin probably didn’t tell Hinman about his work to keep the identities of significant Ethereum stakeholders hidden, despite the evidence shown in the films. Despite Lubin’s assurances, this raises questions about his candor on token and mining concentration.
According to the files, Hinman was also questioned whether he had looked into any resources mentioning Ethereum concentration levels. What each man knew about the situation is now under closer investigation.
The number of rumors and allegations between Ethereum and the SEC has increased recently. Questions concerning possible legal difficulties relating to Ethereum’s early origins have been raised after a series of statements by Ethereum adviser Steven Nerayoff on the social media network X (previously Twitter).
In these tweets and blog postings, Nerayoff made nebulous accusations that Ethereum’s co-founders, Vitalik Buterin and Joseph Lubin, had broken the law during the project’s ICO in 2014.
Nerayoff’s postings also made references to an unnamed “piece of paper” that Joseph Lubin says gave Ethereum’s ICO, which garnered over $18 million, legal authority.
However, legal expert Bill Morgan has theorized that this paper may be a “no-action” letter from the SEC, exempting Ethereum from some securities restrictions.