- A crypto expert has claimed that most of Ethereum is controlled by Chinese authorities.
- In his opinion, SEC head Gary Gensler is also involved.
- He believes that the regulator will approve spot Ethereum-ETFs under pressure from the CCP.
Chairman of the US Securities and Exchange Commission (SEC) Gary Gensler is closely connected with both the Ethereum project and the Communist Party of China (CPC). This opinion was expressed by venture capitalist, lawyer and crypto expert Steven Nerayoff.
With growing speculation around an Ethereum ETF, it’s evident that the SEC, led by Gary Gensler, is more involved in ETH than it appears. Gensler’s indirect approval for @PrometheumInc to designate ETH as a security effectively endorses an ETF covertly.
This decision shows that… pic.twitter.com/i0TVEdLDfq
- Steven Nerayoff (@StevenNerayoff) February 12, 2024
“Amid the speculation surrounding the spot Ethereum-ETF, it’s becoming increasingly clear that the SEC, led by Gensler, is more involved in this project than it appears. Its implicit approval for Prometheum to designate Ethereum as a security effectively gives the green light to spot exchange-traded funds based on the asset.”
