Renowned crypto advisor Steven Nerayoff accuses Ethereum founders Vitalik Buterin and Joseph Lubin of sabotaging crypto and engaging in fraudulent ICOs.
Steven Nerayoff, an early Ethereum advisor, has continued to make shocking allegations against ETH founders Joseph Lubin and Vitalik Buterin.
Ethereum Founders Accused of Sabotaging Crypto
In a series of tweets today, Nerayoff accused Buterin and Lubin of sabotaging the crypto industry.
According to the renowned crypto advisor, the Ethereum execs were more focused on issuing thousands of fraudulent tokens via initial coin offerings (ICOs) and fleecing investors.
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
Buterin Responsible for Ethereum Scalability Woes
Nerayoff made the claim in response to an XRP enthusiast who alleged that Buterin was sleeping on Ripple CTO David Schwartz’s couch when he sought an internship opportunity at the San Francisco-based blockchain company.
As reported last year, former Ripple director Matt Hamilton first drew attention to this allegation during a debate about decentralized projects. Since Hamilton made the allegation, several XRP enthusiasts have been using the comment to troll Buterin.
Commenting on this criticism, Nerayoff asserted that Buterin never did not invent anything. Furthermore, the crypto advisor mentioned Buterin as the major reason why the Ethereum network faced scalability challenges.
Not New
This is not the first time Nerayoff has made shocking allegations against the team behind the Ethereum project. Earlier this month, Nerayoff claimed that the corruption that happened at Ethereum was 1,000 times bigger than the FTX saga,
To further buttress this, Nerayoff claimed that Lubin and Buterin had secret dealings with government officials, including SEC chairman Gary Gensler and his predecessor Jay Clayton, to establish a favorable regulatory environment for ETH.
During his recent appearance on the Crypto Town Hall show, Nerayoff disclosed that he would soon start dropping evidence to support his claims about Ethereum founders’ fraudulent activities.
— Steven Nerayoff (@StevenNerayoff) November 11, 2023
Notably, the former advisor became vocal about Ethereum operations after he was charged with alleged extortion in 2019. However, the DoJ withdrew the case, with many speculating that Nerayoff’s allegations against the government could be factual.