John Deaton, the attorney who represents the over 70,000 XRP token holders in the Ripple vs. U.S. Securities and Exchange Commission (SEC) lawsuit, had kept the crypto community guessing about this announcement.
The attorney revealed that a major part of the announcement was about some of the very interesting claims made by Nerayoff, describing him as the most talked about person within the XRP community currently. Nerayoff claimed to have evidence of wrongdoings during the Ethereum initial coin offering in 2014.
In May 2023, a New York judge dismissed criminal extortion charges against the Ethereum early advisor. He was accused of extorting a crypto startup that he had consulted to assist in an ICO process. However, the federal prosecutors had admitted that they were unable to prove the charges in the indictment beyond a reasonable doubt.
Deaton claimed that he had personally seen some of the receipts that Nerayoff claims to have, in relation to the allegations he made on the Ethereum ICO, although the attorney did not exclusively name the crypto project due to attorney-client privilege.
In recent days, Nerayoff has been making allegations about the irregularities involved in the Ethereum initial coin offering (ICO) and the corrupt practices at the US SEC. In a tweet dated September 17, 2023, Nerayoff revealed that someone at Ethereum hiding the real number of ETH ICO buyers.
Attorney Deaton further explained that if the trial against Ripple chief executive officer Brad Garlinghouse and the company’s co-founder Christian Larsen goes forward, the cross-examination of Bill Hinman’s records will be super difficult for the US SEC.
Deaton said he was not able to reveal many other details due to legal restrictions but concluded by saying that as a community, “We’re getting closer” in the fight against regulators. “The truth will come out and we are getting closer,” he said.
An Ethereum ICO participants sold as many as 6,000 ETH tokens worth around $10 million. In August, it was reported that an address labeled with the name of Ethereum cofounder Vitalik Buterin saw a transfer of 3,000 ETH. Compared to a month ago, the ETH price is trading around 0.80% lower at the time of writing.