ETH Gate: Like most things in this space. So much is pushed by the desire for $$$. Read for more information.

Let's be clear. It's absolutely nothing. You don't start a factual news release with a timer and then announce to the world "ETHEREUM SCANDAL COUNTING DOWN!". This is what Steven Nerayoff did with the recent "Eth Gate". However, his recording is nonsense.

According to documented timelines of Ethereum's creation by Laura Shin. Probably the best source of Ethereum's historical record we have to date, and most of her story has been corroborated.

- "Steven Nerayoff, with whom Joe [Lubin] was working on the legality of the crowdsale in the United States, says he told Joe and Charles [Hoskinson] as he dropped them off at the airport, 'Something’s wrong, guys.' Steven believes that Joe, who doesn’t recall this conversation, said, 'You worry too much.'" He was referring to legal concerns on on the team holding too much of the token. Something Charles wanted. Which is why Vitalik rallied against this. Vitalik and others removed Nerayoff from the team. Nerayoff cleared Ethereum, and their path of release. Charles was pushing for a design that would be more of a legal concern.

- "Steven Nerayoff realized that since ether was necessary to use Ethereum (because people needed to pay for computation), it was like gas needed to drive a car. Thus the presale was selling a product, something that people intended to use, rather than a security." He definitely wasn't the brains (As social media has claimed). He was judging the work of others. He did not see ETH as a security.

- "Steven Nerayoff, the lawyer-turned-technologist who had facilitated the relationship with the US law firm that gave the opinion letter saying ETH was not a security and who had worked closely with Joe on the presale, was arrested for alleged extortion of a company that held an ICO in the fall of 2017. He has pled not guilty and is still awaiting trial." He later advocated that ETH was did everything right.

- Nerayoff played a significant role in the legal and strategic aspects of Ethereum's development, particularly in relation to the crowdsale and the legal classification of Ether. He was also facilitating relationships with law firms and his contribution to the interpretation of Ether as a product rather than a security. He likely feels shafted as he did not have a core role in development, and did not believe in the long term future of the project. He was a legal advisor. Those who only want money.

Nerayoff was not a coder or involved in the technical development of Ethereum. He clearly wasn't the brains. His role was more focused on legal and strategic aspects. He's since shifted to more of a technologist. That is only because of the company he kept. He originally gave the core Ethereum team a green light. Why the 180? Hmmmmmm.

Come on guys. Stop getting caught up in nothing burgers weaponized to scare you or for others to make money. Do your research. Need more evidence? Here:

This individual is a known scammer that was charged with crimes. I'm not going to link his twitter, because attention is a part motivator here.

In September 2019, he Nerayoff was charged with extortion. The charges alleged that Nerayoff and a co-conspirator, Michael Hlady, engaged in a scheme to extort a cryptocurrency company by threatening to destroy the company if it did not meet their demands for millions of dollars in ether and other tokens.

How naive do we want to be?