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Crypto: Ethereum Under Government Investigation!

Thu 21 Mar 2024 ▪ 4 min of reading ▪ by Eddy S.
Getting informed Crypto regulation

A thunderbolt has just struck the crypto ecosystem. The Ethereum blockchain is under investigation by a mysterious anonymous “state authority.” The future of this emblematic project has suddenly become clouded. Among the ranks of developers, this threat is taken very seriously. But what exactly is being alleged against the creators of Ethereum?

Ethereum crypto

The precise origin of this investigation targeting Ethereum seems to have turned into a complete mystery for the time being. Neither its official instigator nor the true motive invoked are known. The only certainty at this stage is that it’s indeed an obscure “state authority” that is now pursuing the Foundation behind Ethereum. Therefore, utmost caution is in order among the developers directly targeted.

Leading figures involved in the project, such as Danny Nelson, Nikhilesh De, or Sam Kessler, prefer for now to remain absolutely discreet. It’s too risky to openly discuss the ins and outs of this sensitive case. To which specific entity has this extraordinary procedure been entrusted? The CIA, the SEC watchdog, or another federal administration? No one within the founding team wants to put it in writing or even speak it aloud.

The Concept of “Decentralization” in Crypto Firmly in the Crosshairs  

By directly targeting the Foundation responsible for the development of the Ethereum network and its native token ETH, this mysterious state entity seems indeed to be attacking the very heart of the concept: its decentralized crypto model aimed at dispensing with any central authority of control. This initial tenet of an architecture rid of any hierarchical authority knot is now directly called into question. A major contradiction to the original philosophy of bitcoin, Ethereum’s ancestor.

Could the hidden objective of this exceptional procedure finally reveal a much broader plan to curb, and ultimately bend, all so-called “decentralized” cryptos? To govern them with an iron state hand, in essence, to better then tame and integrate them into the fold of the traditional financial system? This global fantasy of applying the same control rules as to traditional financial assets, the American SEC has dreamed of it since the advent of crypto.  

No one can predict with certainty what tomorrow will hold for crypto. But one thing is for certain: these new native assets of Web3 are once again wavering under the repeated regulatory blows of the state sphere, which still struggles to fully accept this upheaval of the established order. The battle for a truly decentralized internet and removed from state control has clearly never been finished. It is just entering a new phase, with curtains wide open this time.

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Eddy S. avatar
Eddy S.

Le monde évolue et l'adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m'intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l'optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.


The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.