Aug 7, 2023

ConsenSys: The Hidden Web of Ethereum Funding and Development Author: Qadir AK Aug 7, 2023 22:56 Qadir AK Author Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space. At the center of Ethereum’s developmental evolution sits an entity, ConsenSys, whose connections and operations have been unveiled by renowned blockchain expert, Mr. Huber. According to him, Ethereum’s funding and development has been masterfully woven by ConsenSys, a blockchain software technology company. A Careful Deception? It is said that the roots of ConsenSys trace back to the Ethereum Initial Coin Offering (ICO) which, allegedly, funded its inception. In a web of alleged deceit, the company supposedly used numerous shell companies to develop Ethereum, effectively disguising the identity of key investors and the route of funding to allay potential fears and concerns. ConsenSys was founded with money from the Ethereum ICO. Subsequently, ConsenSys developed Ethereum through countless shell companies and disguised all major investors and funding. So that no one is scared. Swss ConsenSys AG and Joe Lubin also funded the Ethereum Foundation by tax… pic.twitter.com/RWH5TDkp7h Swiss ConsenSys AG and its co-founder, Joseph Lubin, have reportedly played significant roles in supporting the Ethereum Foundation through tax-deductible donations in Switzerland, contributing to the cloak-and-dagger funding narrative. These donations were then channeled back to its US-based entity, ConsenSys Inc., under the guise of project sponsorships aimed at bolstering the Ethereum Ecosystem – a move Huber likened to ‘money laundering.’ The Joseph Lubin Controversy Joseph Lubin, a central figure in the Ethereum story, is not unfamiliar with controversies surrounding financial mechanisms. Lubin, a co-founder of Ethereum and head of ConsenSys, has reportedly been integral to the crafting of this sophisticated funding web. His name is interlinked with the discreet and strategic moves that enabled Ethereum’s development while avoiding any potential public outcry or scrutiny. ConsenSys has maintained an extensive reach within the Ethereum ecosystem, its actions rippling across the blockchain. Its funding and developmental influence raise questions regarding transparency, accountability, and the nature of relationships within the crypto sphere. As the Ethereum platform grows, so does the shadow of ConsenSys, illuminating a complex network of organizations and funding routes that underpin one of the most significant blockchain platforms ever created. Tags