Fox journalist Terrett has recently uncovered a connection between Ethereum co-founder Vitalik Buterin and Prometheum. This revelation has sparked intrigue and speculation within the cryptocurrency community, especially considering the close ties between Prometheum and the US Securities and Exchange Commission (SEC).
It has been reported that former SEC director William Hinman reached out to Buterin before publicly stating that Ethereum (ETH) is not a security asset in his 2018 speech. This contact raises questions about the relationship between Buterin and SEC officials.
Further investigation by Terrett has shed light on Buterin’s role as a co-founder of Wanxiang Blockchain Lab, a non-profit research institute supported by Wanxiang Holdings. This connection is significant because Wanxiang Holdings has a major stake in Prometheum and is one of the owners of the company. In addition, Dr. Feng Xiao, who is also a co-founder of Wanxiang Blockchain Labs, has ties to Ethereum as one of its earliest sponsors.
Moreover, it has been discovered that HashKey, a partner of Wanxiang, purchased a significant number of Prometheum shares in 2018. Dr. Xiao, who chairs HashKey, also joined Prometheum’s board of directors. These transactions further solidify the connection between Ethereum, Prometheum, and Buterin.
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The relationship between Buterin, Prometheum, and SEC raises eyebrows, especially when considering the SEC’s ambiguous stance on cryptocurrencies. Despite categorizing all proof-of-stake assets as securities, SEC Chairperson Gary Gensler has refrained from classifying Ethereum as a security. This has led some in the crypto community to question whether Ethereum and Prometheum enjoy preferential treatment from the SEC due to their connection to Buterin.
This recent report also renews previous allegations about Ethereum’s susceptibility to Chinese control. These claims emerged following the SEC’s lawsuit against Ripple, prompting Buterin to respond by dismissing XRP as a “Shitcoin.” However, such allegations were dismissed as conspiracy theories by Cardano founder Charles Hoskinson.
It is important to note that this report does not prove any wrongdoing on the part of Buterin, Prometheum, or the SEC. The connections and associations revealed simply raise interesting questions and spark further discussions within the crypto community.
As with any investment or involvement in the cryptocurrency space, it is essential for individuals to conduct their own research and exercise caution. Crypto News Flash does not endorse or take responsibility for any content, accuracy, quality, advertising, products, or materials mentioned in this report. Readers are encouraged to make informed decisions and not rely solely on the information presented.
