Former Ethereum Advisor Reveals Decision to Turn Down 1 Million ETH
In a recent statement, Steven Nerayoff, a former advisor to Ethereum, disclosed that he had declined an allocation of over 1 million Ether (ETH) in the past. Nerayoff explained that he made this decision to avoid conflicts of interest and because his vision for Ethereum diverged from that of its founders.
The Reason Behind Nerayoff’s Choice
Nerayoff shared his thoughts on X (formerly Twitter), stating that he would have had over 1 million Ether if he hadn’t refused his contribution, gotten reimbursed in Ether for expenses, and chosen not to invest in the ICO. He emphasized that he didn’t regret his decision and it was not what he signed up for.
Nerayoff’s Discontent with Ethereum’s Current State
Nerayoff expressed discontent with the current state of Ethereum and attributed the rise in Ether’s price to the initial coin offering (ICO) and utility token model. He believed that a focus on decentralized applications (DApps) could have further enhanced Ether’s value. According to Nerayoff, Ethereum’s founders have deviated from their original plan, hurting the value of Ether.
Divergence in Vision
Nerayoff’s comments shed light on a significant divergence in vision between him and the Ethereum leadership. He claimed that he cared deeply about changing the world, unlike Vitalik Buterin and Joseph Lubin, who he accused of having an insatiable appetite for money and power.
Proofs for Nerayoff’s Claims
To support his claims, Nerayoff released communications with Ethereum co-founder Ethan Wilding and former Chief Communications Officer Stephan Tual. These communications from 2014 and 2015 revealed Nerayoff’s decision to direct his Ether allocation elsewhere, emphasizing his dedication to the project without expecting financial return.
Preparations for Legal Battle
Nerayoff’s revelations come as he prepares for a legal battle against Buterin and Lubin, in which he aims to prove fraud. However, it is unclear when he will file the lawsuit. In recent months, Nerayoff has made several disclosures and accusations against Ethereum’s founders, causing controversy in the crypto community.
Hot Take: Ethereum Insider Turns Down 1 Million ETH
Former Ethereum advisor Steven Nerayoff recently revealed that he declined an allocation of over 1 million Ether (ETH) in the past. This decision was driven by his commitment to avoid conflicts of interest and his vision for Ethereum diverging from its founders. Nerayoff expressed discontent with the current state of Ethereum, highlighting a divergence in vision between him and the leadership. He released communications as proof and is now preparing for a legal battle against Buterin and Lubin. These revelations have caused a stir in the crypto community.
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