Steven Nerayoff is expected to disclose evidence of alleged fraud regarding the activities of Ethereum founders Vitalik Buterin and Joe Lubin within 48 hours.

Nerayoff, who is intimately aware of Ethereum‘s early days, has been vocal in recent months regarding the alleged misconduct of the platform’s founders. The anticipated revelation is set for November 16th, and come following a number of of accusations that are potentially bigger than the notorious FTX scandal.

Revelations in 48 hours

Speaking in a Space on X, Nerayoff revealed that the release of said allegations against the Ethereum founders “should be within 48 hours hopefully less. Logistics, setting up smart NFTs, etc.”

Recent posts have directly targeted Vitalik Buterin, intimating his involvement in the fraudulent activities. He asserted, “remember this video when I drop the recording & what I tell Vitalik about 2.0 and to fix misaligned incentive structures. Is Vitalik the saviour they bill him as to make Ethereum scale or is he the reason it never scaled? Decide for yourselves.”

Nerayoff then questioned the originality of Buterin’s contributions: “Did Vitalik invent anything? No he did not. Ethereum never scaled because of him.”

Moreover, Nerayoff accused both Butern and Lubin of purposely focusing on perpetuating fraudulent ICOs, hindering growth for the entire crypto sector in the process.

Nerayoff is expected to release a 3-hour recording as a free NFT, and a transcript to follow in a couple of days.

Nerayoff implicates the SEC

The former Ethereum advisor also spoke of how the SEC practically gave Ethereum a free pass amidst the ETH Gate Scandal. The SEC initially considered ETH’s utility token as a security prior to a speech by Will Hinman noting the BTC and ETH weren’t securities. On the other hand, the SEC went after Ripple and XRP on claims of centralisation.

Nerayoff noted that there was internal documentation at that point that indicated that the network hadn’t met the requirements in order for it to be decentralized.

This internal documentation was allegedly only accessible by Nerayoff, prompting regulators to levy charges of extortion. Prosecutors have since dropped the charges, but Nerayoff claims it was a setup. He also claimed the SEC, FBI, and the DOJ fabricated evidence in a bid to silence him.

Notably, the long-winded build-up of Nerayoff’s claims have been met with calls for the insider to release the information as soon as possible. If the serious accusation are confirmed, corroborated and pursued by law enforcement, such information could have a lasting structural effect on crypto financial markets.

At the time of writing, it remains to be seen whether the claims are as grievous as the insider says they are.

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