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  • Former Ethereum advisor Steven Nerayoff has announced that he will be launching a new and innovative AI-driven project in the days to come.
  • A big critic of the Ethereum project, the now-turned-whistleblower, says his new project seeks to take crypto back to its ethos.

Former Ethereum advisor Steven Nerayoff has in recent weeks been very vocal about his time working for the world’s second-largest cryptocurrency. In a recent X post, the advisor who has now turned into a critic of the project and its co-founder Vitalik Buterin, has discussed his plans to launch a groundbreaking AI-driven web3 project.

Nerayoff has been attacking the structural and fundamental workings of the Ethereum network. He has further accused Ethereum’s co-founder Vitalik Buterin of manipulating the network for personal gains. Additionally, Nerayoff’s accusations expand beyond the founders, suggesting that Ethereum may have had secret dealings with corrupt U.S. government officials. He names notable figures, such as current United States Securities and Exchange Commission (SEC) Chairman Gary Gensler and former SEC Chairperson Jay Clayton, as individuals who may have been involved in these secret dealings.

Read More: Ethereum’s Dark Secrets: Allegations by an Insider Unearthed – Is ETH at Risk?

Some have in recent days questioned the insider’s motives, but Nerayoff has been quick to respond, stating that he is not looking to destroy the Ethereum project but is “hoping to get us back to the true ethos of crypto.” In his post, Nerayoff further spoke about his latest venture, noting that he would be announcing it “Shortly.”

I will announce my next project shortly. I have not announced it as I didn’t want anyone saying I’m doing this to profit. But it involves the combination of AI tech that I’ve been building since 2010 with next level Web3.

He further took the opportunity to speak on a recent expose in which he released details of his conversations with Ethereum co-founder Vitalik Buterin. He noted;

At heart I’m an architect. Using the NFT to deliver the talk with Vitalik was my solution for censorship resistant decentralized delivery of information such as news. It was my way of showing a real use case for crypto.

If you notice I told Vitalik that incentives were misaligned towards ether price & not protocol development. End result not a single killer Dapp other than DEX’s which is expected as the price of tokens not their use was in incentivized. It’s their use that will bring even more value though.

The former advisor who intends to take his case against Ethereum to court opined that he hopes to start an incubator but the ongoing case has been draining. He added that exposing the truth was critical, stating, “this lawsuit & exposing the truth is very high in opportunity costs but there are more important things than wealth & exposing this is one of those.”

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