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The SEC and Ethereum had scheduled a crucial phone call for April 23, 2018. However, it was pushed to May 2018. Strikingly, on the original date of the call, Gary Gensler, the CFTC chairman, publicly pondered whether #XRP and #ETH could be classified as securities.
The coincidence of the postponed call and Gensler’s statement on the same day as crypto enthusiasts and analysts scratching their heads. Could it be mere coincidence, or a more complex narrative at play?
Backdoor Communications and Ethereum Alliances
There’s a murmur in the crypto community suggesting possible private communications between Bill Hinman of the SEC and Joseph Lubin, the co-founder of Ethereum. Such whispers gained momentum with the mention of a mysterious group that convened in Toronto in early May. One of the burning questions about this congregation revolves around its role and authority. Speculations are rife that this might be related to the Ethereum Foundation.
Further complicating the narrative is Hinman’s alleged under-oath denial of knowledge regarding Simpson Thacher’s association with the Enterprise Ethereum Alliance. This raises questions, as both entities reportedly collaborated closely with The Token Foundry and The Brooklyn Project. Interestingly, Hinman served as an in-house attorney for the latter.
#EthGate Speech and the Veil of Decentralization
Bill Hinman received an invite from @Consensys on April 23, 2018. What’s mysterious is that this came just under two months before the infamous #EthGate Speech. On the same day as this invite, reports from Bloomberg revealed that Gensler made comments about Ether and Ripple’s XRP’s probable securities status. Given the timing, some suggest the SEC’s call aimed to validate Ethereum’s decentralized status.
Deciphering the Crypto Puzzle
While the pieces of this intriguing puzzle are slowly coming together, they paint a complex and fascinating picture. The evolving story suggests a dance of power, influence, and information in the crypto world. As more layers are unravelled, the crypto community and beyond wait with bated breath to discover what lies beneath the surface.