Exposing ETHGate: The Unfair Ethereum Free Pass and Corruption within the SEC

Researcher @XX_1133_1221_11

Researcher

Topic

Corruption Investigations

Published

July 25, 2023

Exposing ETHGate: The Unfair Ethereum Free Pass and Corruption within the SEC

ETHGate - The Ethereum Free Pass Visual Research Map of Red Flag Connections

The Key Players within ETHGate:

To fully understand the ETHGate controversy, it is essential to examine the key figures involved. Jay Clayton, the former SEC Chairman, had a long-standing connection with Sullivan & Cromwell, a law firm that represented ConsenSys, an Ethereum-focused consulting firm. William Hinman, the former Director of Corporation Finance at the SEC, co-engineered the Alibaba IPO alongside Clayton and later joined the SEC with many more connections intertwined in the research map. Joe Lubin, a co-founder of Ethereum and founder of ConsenSys, had significant financial interests in ether, Ethereum's native currency. These interconnected relationships set the stage for the unfolding ETHGate scandal that enriched a small 1% and disadvantaged America as a whole just like the Jekyll Island meeting in 1910 which formed the Federal Reserve Act of 1913.

Unveiling the "Free Pass" for Ethereum:

Papers filed in court and video evidence have exposed multiple meetings between ConsenSys and senior SEC officials. These meetings aimed to secure a regulatory "free pass" for ethereum, while the SEC was actively investigating and prosecuting other ICOs that conducted crowd-fundraising similar to Ethereum's. The SEC's lawsuit against Telegram, which halted the development of its blockchain, raised questions about the disparate treatment of ether. The evidence suggests that Ethereum investors played a significant role in shaping Hinman's speech (The Ethereum Speech - Bill Hinman), where he declared that ether was not a security, effectively giving Ethereum a regulatory advantage over its competitors.

The Ripple (XRP) Lawsuit and Inconsistencies:

The SEC's lawsuit against Ripple, filed on Clayton's last day at the SEC, raised eyebrows due to its timing and potential conflicts of interest. XRP, the decentralized cryptocurrency that ripple helped create, differed from Ethereum in several aspects and arguably fit the criteria outlined in Hinman's speech better. The case brought to light the SEC's contradictory actions and statements regarding XRP and ether. Ripple's legal team challenged the SEC's inconsistency, leading to the emergence of a "fair notice and due process" defense that could reshape the agency's regulatory power over cryptocurrencies.

Why Did Ethereum Get a Free Pass and Ripple Get Sued?

The SEC's biased treatment of Ethereum and Ripple raises critical questions about the agency's motives and decision-making process. Despite the flawed nature of the Ripple lawsuit, the SEC chose to pursue it, potentially backfiring and limiting the agency's power in the long run. The connections between SEC officials and entities linked to Ethereum, such as ConsenSys and the Enterprise Ethereum Alliance, further complicate the situation. The revelation of personal financial interests and subsequent actions by key players involved only add to the suspicion surrounding ETHGate.

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In conclusion, the ETHGate scandal reveals the deep-rooted corruption within the SEC and the detrimental impact it has on American citizens and the blockchain industry. Future Citizen News will continue to uncover the truth, fight for fairness, and ensure that regulatory clarity prevails in the evolving landscape of cryptocurrencies. Join us on this journey of exposing corruption and advocating for a transparent and equitable future.

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Meet mysterious researcher @ XX_1133_1221_11,

This is an anonymous researcher expert research focuses on future technology and numerology around global events. He is known for his impressive ability to create intricate mind maps linking the 4IR and occult/masonic numerology.

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