Lawyer Hints at Damning Information about ETH Gate
John E Deaton, a lawyer known for supporting XRP, has sparked interest in the crypto community with tweets suggesting that there may be damaging information about ETH Gate that could soon be revealed. Deaton’s comments were in response to Steven Nerayoff, an early advisor to Ethereum, who had criminal extortion charges against him dismissed in May.
Nerayoff’s Intent to Disclose
Deaton responded to a tweet from Nerayoff’s lawyer, Michael Scotto, stating that one day the full truth would come out and speculating that Nerayoff may have been too eager to disclose what he knows.
What is ETHGate?
ETHGate refers to the theory that Ethereum received preferential treatment from US regulators while other digital assets like XRP faced regulatory scrutiny. Ripple Labs, the parent company of XRP, was sued by the SEC in December 2020 for conducting an unregistered securities offering.
XRP Army Hopeful: Will ETH Gate Finally Be Exposed?
In previous tweets, Deaton reiterated allegations made in an article about Ethereum being favored by the SEC due to conflicts of interest involving William Hinman, former Director of the SEC’s Division of Corporation Finance. Nerayoff also questioned the validity of Ethereum’s regulatory pass and raised concerns about potential involvement of officials in obtaining it.
Potential Insider Information
Deaton believes that Nerayoff could be a valuable source of insider information. Nerayoff himself hinted at this by saying, “I have the map,” in response to Deaton’s tweet about knowing where all the bodies are buried.
Nerayoff’s Dismissal Raises Questions
Nerayoff’s recent dismissal of extortion charges raised eyebrows as it is unusual for prosecutors to drop a case after obtaining an indictment. His lawyers claim that he was the victim of a setup to gather evidence against prominent figures in the crypto industry, which could potentially be related to the Ethereum free pass.
Hoskinson’s Perspective
Charles Hoskinson, one of Ethereum’s founders and the founder of Cardano, acknowledged the role of personal relationships in regulatory decisions but dismissed the idea of Ethereum bribing the SEC. He stated that personal relationships influence decisions in various industries but found it unlikely that Ripple was targeted by bribery.
Hot Take: The Implications of ETH Gate
The potential exposure of damning information about ETH Gate has sparked curiosity and speculation within the crypto community. If there is evidence to support claims of preferential treatment for Ethereum, it could have significant implications for the regulatory landscape and the perception of fairness within the crypto industry. It remains to be seen what information will be disclosed and how it will impact Ethereum and other digital assets.
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