More details about What happened in the meantime Ethereum’s Initial Coin Offering (ICO) has been revealed. This time another Ethereum Insider That’s making damning revelations that could threaten the country. Stability of the Ethereum ecosystem
70% of pre-mined ETH has been distributed.
Video by former Ethereum core developer Lane Rettig surfaced recently On the X (formerly Twitter) platform. In the video, Rettig mentioned that 70% of the pre-mined ETH was distributed immediately. The developer also seems to suggest that most of these decentralized tokens were delivered to the Ethereum founders.
Such revelations are undoubtedly certain to reopen the conversation Regarding allegations of atrocities This took place in the early stages of ETH development (famous for ETH Gate). Previously, another Ethereum insider, Steven Nerayoff, made certain revelations This means that ETH and its founders have received regulatory freedom from the SEC.
Now Rettig seems to be suggesting that ETH’s founders may have gotten greedy with their venture. According to him, distributing 70% of pre-mined ETH is “too much” at any scale. He also said he was leaving the Ethereum Foundation because he couldn’t “keep pumping Joe Rubin’s bag.”
ETH price above $2,200 | Source: ETHUSD on Tradingview.com
Who were the early Ethereum participants?
When asked about who might benefit from this distribution, Rettig said that employees of the Ethereum Foundation don’t exactly have access to that kind of information. The only person he knew well was the ETH co-founder. Vitalik Buterin And Joe Rubin. He also Ethereum FoundationThis is because the wallet address is public.
But he acknowledged that the initial participants were “a small number.” Many people will be concerned about this, considering that these ICOs typically distribute cryptocurrency tokens into many hands.
As he further noted, Rettig isn’t done yet. There was a rumor “One or two people have single-handedly purchased a very large percentage of pre-mined ETH.” This was possible because ‘participation was possible under a pseudonym,’ so there were no restrictions.
Interestingly, Nerayoff recently made a new claim that appears to confirm some of what Rettig said. to X post, an Ethereum insider specifically stated that ETH “was created and operated to benefit a very small number of players who hold the majority of Ether.” He claims “they” used his position to commit “the greatest fraud in history.”
Featured image from Medium, chart from Tradingview.com