Pro-XRP Attorney John Deaton has dismissed rumors that he had insider information about Ethereum ICO. The pro-XRP lawyer and founder of CryptoLaw took to the X platform (formerly Twitter) to deny the claims against him.

Deaton’s remarks follow a series of exchanges by prominent crypto advisor Steven Nerayoff, bringing Ethereum ICO into the spotlight. 

Notably, the crypto space has been buzzing over the past few weeks with news regarding the 2014 Ethereum ICO. Nerayoff’s claims of knowing the exact number of people who invested in Ethereum ICO garnered significant attention in the crypto community.

Former SEC Chair was Joe Grundfest who has integrity which seems out of fashion. As to the number, I now realize one can’t tell the true # of ETH ICO buyers as it was explained by some how whales could disguise their large positions during the ICO. Violation of Terms of Service… https://t.co/TjSIsszGmG

— Steven Nerayoff (@StevenNerayoff) September 17, 2023

The crypto advisor noted that several crypto whales disguised their huge positions while purchasing ETH at its early sales. Notably, the action violated the Terms of Services against speculative acquisition, which Ethereum and its founders have concealed. 

In addition, Nerayoff became a target due to his knowledge of certain information surrounding the early sales of Ether. Meanwhile, the advisor’s post sparked discussion threads, with Deaton weighing in.

The lawyer noted that he had seen some documents supporting Nerayoff’s claims. Attorney Deaton further promised to feature Nerayoff in discussing the claims on Crypto-Law TV.

Dealton Dismisses Claims 

In recent arguments, an XRP fan said some of the receipts backing Nerayoff’s claims are in Attorney Deaton’s possession. But Deaton denied the enthusiast’s claim, noting that his comments on the issues are only based on documents he has seen.

I’ve commented regarding the receipts that I’ve seen. People should not jump to conclusions that that means I’ve seen everything being referenced by everyone. For example, I said I’ve seen documents that prove @StevenNerayoff was an essential part of the Ethereum team in 2014. I… https://t.co/ADscztEepp

— John E Deaton (@JohnEDeaton1) October 4, 2023

Further, Deaton stated:

People should not jump to conclusions that that means I’ve seen everything being referenced by everyone.

Recall that Vitalik Buterin and Joseph Lubin had stated that Nerayoff’s role in Ethereum was inconsequential. However, regarding one of the documents he saw, Deaton said it showed that Nerayoff is an integral part of the Ethereum team. The lawyer noted that the receipt opposes the previous assertions by the Ethereum founders. 

Ethereum ICO Whale Investors Remains Unknown

Deaton said the real identities of the disguised Ethereum whales are still unknown since there were no KYC/AML requirements during the Ethereum ICO. Deaton shared a link to an old audio of Lubin, who convinced investors that Ethereum doesn’t demand real-world identity for its ICO. 

Also, he shared an audio excerpt:

A person can buy from any number of different identities. We may limit the unit size of a sale to make it easier to disguise.

Though Deaton refutes possession of insider information regarding Eth ICO, he deduced five powerful points from the shared audio. The lawyer stated that the Ethereum ICO had no disguised whale list. He noted that such a list would contradict being anonymous for the investors.

The audio below:

When asked “will there be a limit on the amount a person can invest in Ethereum” @ethereumJoseph3 responds:

“A person can buy from any number of different identities. We may limit the size the unit size of a sale just to make it easier to disguise.” For…

— John E Deaton (@JohnEDeaton1) October 4, 2023

Also, participants in the ICO sales used only email addresses. The lawyer observed that most addresses were created exclusively for the ICO. He stated that a thorough investigation of the email addresses’ owners could be the only measure to uncover the real identity of the whales who invested in ETH ICO.

Furthermore, Deaton believed that no reputable law firm recommended the ICO process. He mentioned that the accuracy of Lubin’s audio could imply that SEC’s former director of Corporation Finance, William Hinman, omitted or overlooked details about Ethereum ICO during his testimony in the Ripple-SEC lawsuit.