Ethereum Exposé: From Founders to Fraud?

Steven Nerayoff alleges that Ethereum's fraudulent activities could even be worse than those of FTX.

Danielle du Toit
April 15, 2024

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Former Ethereum advisor Steven Nerayoff has made some serious accusations against Ethereum founders.

Investigative journalist James O’Keefe released a viral expose uncovering a web of corruption and deceit within Ethereum that has shaken the cryptocurrency space.
Steven Nerayoff, a former advisor to Ethereum, accused founders Vitalik Buterin and Joseph Lubin of fraud and collusion with corrupt U.S. government officials, including the SEC.
Nerayoff alleges that Ethereum's fraudulent activities could even be worse than those of FTX.

Bitcoin's value dropped more than 8% on Apr. 13 due to rising geopolitical tensions in the Middle East.

Bitcoin's price sharply fell by over 8% to $61,625 on Apr. 13 due to increased geopolitical tensions in the Middle East, which impacted the crypto space as a whole.
Ethereum and Solana also faced large declines, with Ethereum dropping 9.81% to $2,927 and Solana plummeting 15.96% to $129.
The global cryptocurrency market cap decreased by 8.19%, reaching $2.23 trillion, according to CoinMarketCap.

A market analyst suggests that BTC may see a significant outflow from miners in the months after the halving, similar to previous cycles.

Markus Thielen, head of research at 10x Research, predicts Bitcoin miners might sell off $5 billion worth of BTC after the upcoming halving, potentially causing market overhang for four to six months.
Historical patterns suggest Bitcoin's price could remain stagnant, similar to after the 2020 halving when prices fluctuated between $9,000 and $11,500 for five months.
With the halving scheduled for around Apr. 20 this year, significant price increases may not happen until around October if past trends continue.

ZachXBT issued a stern warning about an ongoing scam orchestrated by a notorious group that has been part of multiple rug pulls in the past.

ZachXBT's investigation found that a group was involved in multiple rug pulls on platforms like Magnate, Kokomo, Solfire, and Lendora.
The group's latest fraudulent activities are focused on Leaper Finance, a lending protocol on the Blast network, and similar projects like ZebraLending on Base.
The scammers have been funneling funds from previous scams into Leaper Finance to boost its liquidity and lure more victims.

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