- A recent tweet by TruthLabs suggests that Ethereum has transformed into a centralized entity.
- Attorney Steven Nerayoff had similar accusations, claiming that Ethereum now operates as a hierarchical system.
- It’s important to note that these accusations, though provocative, remain subjective opinions and have not been proven as concrete facts.
A recent tweet by on-chain sleuth TruthLabs argues Ethereum has evolved into a centralized cartel that has enriched insiders while holding back innovation across crypto.
I believe without any doubt that the Ethereum Cartel is holding back all of Crypto. Just think about where all those investment dollars & dollars stolen from protocols could have gone to support those with interests that aligned with all Market participants.Instead our dollars… https://t.co/k4dt7vtr81
— TruthLabs (@BoringSleuth) October 9, 2023
Responding to similar accusations by attorney Steven Nerayoff, TruthLabs contended Ethereum has become a hierarchical system controlled by a small cadre of developers, regulators, and investors operating against community interests.
The tweets allege these central players have disguised their pursuit of …
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