Newly Unearthed Documents Raise Questions About Ethereum Co-Founder’s Statements to SEC
In a recent development, documents have come to light that suggest Ethereum co-founder Joseph Lubin may have made misleading statements to the Securities and Exchange Commission (SEC) regarding the concentration of investors in the cryptocurrency. These revelations have raised concerns about the accuracy of information provided to the SEC.
On-chain investigator Mr. Huber revealed that Lubin had signed a document affirming the truthfulness of his responses to former SEC official William Hinman’s questions about the distribution and mining power related to ether tokens. However, Huber alleges that Lubin may not have fully disclosed efforts to obscure major Ethereum stakeholders to Hinman, as evidenced by previous videos. This discrepancy casts doubt on whether Lubin provided accurate information about token and mining concentration, despite certifying its accuracy.
The documents also reveal that Hinman was directly questioned about his review of materials concerning Ethereum’s investor concentration levels, intensifying the scrutiny on both individuals and what they knew about the matter.
These allegations and speculations surrounding Ethereum and its interactions with the SEC have been on the rise. Steven Nerayoff, an advisor to Ethereum, recently posted on the social media platform X (formerly Twitter), raising concerns about potential legal issues related to Ethereum’s early history.
In his posts, Nerayoff made vague allegations about Ethereum co-founders Vitalik Buterin and Joseph Lubin possibly being involved in regulatory violations during the project’s initial coin offering (ICO) in 2014.
Nerayoff’s posts also alluded to the existence of an undisclosed “piece of paper” that Joseph Lubin claims provided legal authorization for Ethereum’s ICO, which successfully raised over $18 million. While the specific contents of this document remain undisclosed, legal expert Bill Morgan has speculated that it could be a “no-action” letter from the SEC, potentially exempting Ethereum from certain securities regulations. The unfolding situation warrants further investigation and clarity.