May 23, 2024
Latest Cryptocurrency News

Former Ethereum Advisor Sues US Government for $9.6 Billion

Steven Nerayoff, an early adviser to the Ethereum network, has initiated legal action against the United States government, citing false charges and mistreatment by federal agents between 2019 and 2023.

The lawsuit, filed under the Federal Tort Claims Act (FTCA), seeks $9.6 billion in damages for alleged extortion charges brought against Nerayoff in 2019.

Lengthy Legal Battle and Dismissal

The legal dispute spanned approximately four years, culminating in the U.S. government dismissing the lawsuit in May 2023.

Nerayoff’s lawsuit claims that federal agents were aware of the baseless nature of the charges and engaged in harassment and intimidation tactics, including fabrication of evidence, to prosecute him for extortion.

Significant Reputational and Financial Losses

Nerayoff’s legal team asserts that the damages inflicted on his reputation and businesses warrant the lawsuit against the U.S. government. The filing emphasizes the irreparable harm caused to Nerayoff’s well-being, personal life, and career, leading to substantial legal fees and loss of income.

Source: Steven Nerayoff

Consultation with Prominent Lawyer

Notably, Nerayoff enlisted the expertise of prominent lawyer Alan Dershowitz as a consultant on the case. Dershowitz considers the lawsuit “unusual” in nature, signaling the complexity and significance of the legal proceedings.

Controversial Figure in Cryptocurrency

As a serial entrepreneur and blockchain pioneer, Nerayoff’s involvement in various cryptocurrency projects, including Ethereum, has been marked by controversy and legal challenges.

His past allegations against Ethereum founders and the Ethereum Foundation have contributed to ongoing debates within the cryptocurrency community.

Image by freepik

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