Category: Timeline Stories

At Building Blocks 2023, Joseph Lubin admits that Ethereum is not decentralized but “we’re working on it”.

Source: @digitalassetbuy

At the _____, Joseph Lubin of ConsenSys admits before a crowd when questioned that Ethereum is not decentralized, but that they’re “working on it”.

Source: @digitalassetbuy

Lowell Ness is a partner with Perkins Coie who bragged in October 2018 at BlockCon (see previous entry) about the role of the Ethereum Free Pass Memo in formulating the Hinman Speech.

In this video he clearly states Hinman personally told him “he was going to approve” the memo’s proposition “and give guidance”.

Source: @digitalassetbuy

Full video here.

Now-former SEC Chairman Jay Clayton is hired by One River Asset Management, a crypto hedge fund that “quietly” made a huge financial bet exclusively on the two assets named in Hinman’s 2018 speech – bitcoin and ether. One River’s $600 million position in BTC and ETH, according to Bloomberg, was completed a few weeks before the Ripple lawsuit was filed.

Ethereum co-founder, Joe Lubin, speaks on EOS – an Ethereum competitor. He discusses how the “SEC recently gave the EOS project a slap on the wrist for its token sale.” He goes on to add that in spite of that the SEC would “shut down a sale structured like the EOS sale today before it could put up its first billboard.”

Source: @Leerzeit

Jeff Pulver, Vice Chairman of Alchemist, says attorney Steven Nerayoff “is the one responsible for getting the letter that said that Ethereum is not a security”. This was one day before the Hinman speech.

Source:@NerdNationUnbox

The moderator who had just spoken with William Hinman about his speech has event organizers post the real-time trading price of ether, which was up significantly. “You see over there,” Serwer tells the audience. “That was after the comments by the SEC. Interesting market action there, right? Um…whoa!”

“News like this moves markets,” added Sonnenshein, the CEO of Grayscale Investments.

Source: @Leerzeit

Kyle Samani of Multicoin Capital – of which Chris Dixon of Andreessen Horowitz was a Limited Partner – says he is shorting XRP “based on the SEC’s guidance … about ether not being a security, it’s quite clear to us that Ripple is a security.” He adds that Multicoin has “very high conviction” that it [Ripple] is a security, but they “do not know when that news will drop”.

Source: @digitalassetbuy

Brett Redfearn, SEC Director of Division of Trading and Markets and former senior JP Morgan executive is confronted with market confusion over the SEC’s regulatory approach to crypto. Redfearn concedes that “when looking at these issues, that it’s not as obvious as you would think” and encourages “market participants” to interpret the Howey Test as a guide. Both Ripple and Coinbase later followed that guidance, and concluded that XRP was not a security under the Howey Test.

Redfearn is asked about whether XRP or ether are securities, and he replies that the public should expect “statements about one of those products forthcoming in the future providing more guidance”. This was 7 days before the Hinman speech.

Source: @digitalassetbuy

Former SEC commissioner Robert Jackson discusses SEC’s position on securities laws in relation to cryptocurrencies, saying  “we just put out some guidance on this.” He then points to Hinman’s Yahoo Finance Summit speech as guidance, saying “the most helpful thing I think, our director of corporation finance Bill Hinman gave a speech about a year and a half ago that describes this.”

Source: Media NYAIR