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The Trails leading down the rabbit hole.
ALL the talent belongs to @BoringSleuth with thousands dollars, hours of time to build amazing databases and research all these connections, and John E Deaton. Much Power!
Explainer:
This post gives the reader an opportunity to go deep into the corrupt relationships of insiders. The SEC, Think Tanks, Academia, Venture Capital, and China that will never get investigated by the “news” because there is so much money involved, they do not want to known.
@BoringSleuth
This 🧵will be all-inclusive. I will demonstrate how blockchain data (public ledger) can be used to validate/ 🙂 🙁 invalidate information released off-chain into the public domain, like PR’s. This is critical as it holds companies and their employees accountable to telling the truth.
This Protocol Labs & Filecoin 🧵 goes Deep.
It may end up being the deepest, most intimate look into how the Wanxiang, Ethereum Foundation, Consensys has ran their ecosystem to date: One token sale at a time capitalized on marketed lies, storytelling, Ponzinomics, & KPI farming.
https://twitter.com/BoringSleuth/status/1652880895748218880
The MIT & Wanxiang relationship goes back to at least 2012
WANXIANG and MIT FORM STATEGIC PARTNERSHIP 2018 Article at http://GOVT.CHINADAILY.COM
https://govt.chinadaily.com.cn/s/201803/28/WS5b788025498e855160e8f2cc/wanxiang-group-mit-develop-strategic-cooperation.html
Jeffrey Epstein & Bill Gates funded MIT’s Media Lab developing CBDC “Project Hamilton”.
SEC Chair Gensler was the Labs senior advisor & taught economics with Glenn Ellison, the father of SBF’s girlfriend and co-CEO of Alameda Caroline Ellison. Plus THIEL taught by SBF’s Dad.
The second known Musk-Epstein dinner:
“Hoffman had invited Epstein, along with former MIT Media Lab director Joi Ito, to an August 2015 dinner in Palo Alto, CA, where Elon Musk, Mark Zuckerberg and Peter Thiel were also in attendance, Axios reported.”
https://nypost.com/2019/09/13/linkedin-founder-reid-hoffman-says-he-regrets-interactions-with-jeffrey-epstein/
Many people don’t know the impact Thiel Fellows have made in Crypto over the last 9 years. This years class of Thiel Fellows, on paper, is the least involved in Blockchain since the Fellowships inception. Below is a 🧵 the Most Notable Fellow and their impact in Blockchain today: https://twitter.com/BoringSleuth/status/1667216838323851265/photo/1
Paxos was also a part of the Silvergate Exchange Network, from underwater Silvergate Bank. Paxos’ largest VC investor, Peter Thiel, has been dubbed as the one who started the bankrun on Silicon Valley, which led to its collapse. Silicon Valley is..was..a member of the Silvergate Exchange Network.
Paxos’ directors were previously linked to and sued for their connections to fraud, including LEHMAN BROS (Madoff) Fortis Prime Fund Solutions – Cayman Bank (Madoff) and a $1.4B Ponzi – Platinum Partners. I included in the image below the members of the Board, the Directors of the company that own Paxos, and the early funders of PAXOS.
Also, for some strange reason, Microsoft is also part of bankchain… a private blockchain, for Banks of course.
[ECP NetHappenings Comment:
This is probably how Microsoft was involved.
Cryptographer Wei Dai worked for Microsoft who was thinking about this topic at the same time Satoshi Nakamoto was going to release his white paper in 2008.
b-money https://en.bitcoin.it/wiki/Wei_Dai
In 1998, Dai helped to spark interest in cryptocurrencies with the publication of “b-money, an anonymous, distributed electronic cash system”. In the paper, Dai outlines the basic properties of all modern day cryptocurrency systems: “…a scheme for a group of untraceable digital pseudonyms to pay each other with money and to enforce contracts amongst themselves without outside help”.
Influence on the development of Bitcoin
Described as “money which is impossible to regulate”, Dai’s b-money described the core concepts later implemented in Bitcoin and other cryptocurrencies:
Requires a specified amount of computational work (aka Proof of work).
The work done is verified by the community who update a collective ledger book.
The worker is awarded funds for their effort.
Exchange of funds is accomplished by collective bookkeeping and authenticated with cryptographic hashes.
Contracts are enforced through the broadcast and signing of transactions with digital signatures (i.e., public key cryptography).
Relationship with Satoshi Nakamoto
Wei Dai and Adam Back were the first two people contacted by Satoshi Nakamoto as he was developing Bitcoin in 2008 and the b-money paper was referenced in the subsequent Bitcoin whitepaper.
In a May 2011 article, noted cryptographer Nick Szabo states:
Myself, Wei Dai, and Hal Finney were the only people I know of who liked the idea (or in Dai’s case his related idea) enough to pursue it to any significant extent until Nakamoto (assuming Nakamoto is not really Finney or Dai).
“Efficient cooperation requires a medium of exchange (money) and a way to enforce contracts,” Dai explained when he introduced b-money in November of 1998.
So, how much risk is there in the banking system?
How could we possibly know with the Privatized Bankchain, directly linked/ran by ex-Madoff participants?
Wanxing – Prometheum
Wanxiang has a history with the Biden’s and others:
https://twitter.com/BoringSleuth/status/1670203365794496514/photo/1
https://wanxiang.com/
SEC Chair Gary Gensler
Gary Gensler is testifying in front of the @GOPoversight+. Let’s hope Prometheum and Wanxiang are two of the main points of questioning.
In Prometheum’s filings to the SEC, they state:
“The company (Prometheum) uses Wanxiang (CCP) as their SOLE project developer and relies on Wanxiang’s ability to create and maintain a successful platform.”
“The loss of the services of Wanxiang could have a material adverse effect on the ability of the Company to Develop, Operate, or maintain the Prometheum Network”
“If the Company were to lose the services of Wanxiang, it could be difficult or impossible to replace them”
tldr: Prometheum is shell of Wanxiang used to get approval and access to US markets and US consumers most private and sensitive information.
This opens up Prometheum, Wanxiang, and the CCP have legal, direct access to Americans Social Security numbers, drivers licenses, passport numbers, and Banking information.
SUMMARY:
@garygensler
@FINRA
@SECGov
gave the lone special dealer broker license to a company that is”
1. Heavily backed financially by deeply connected w/CCP Wanxiang
2. 100%, entirely dependent upon CCP Wanxiang creating, managing, and running the product for Prometheum.
3. controlled by Wanxiang who is involved in Billions of dollars of fraud and theft.
4. Who owns the domain KillTrump.eth and KillTrump.crypto, where today, you could send money to, and Prometheum would receive it.
Yet, we sit here today, and still, squadoosh has changed outside of Meetings being held and games being played.
While Gary Gensler was under oath yesterday, not one person from the
@committeeonccp was in attendance to drill him. While @JDVance1 did a great job, he should have been 1 of 50 pressing Gary Gensler, bit by bit. Instead, the @committeeonccp held their own meeting, and bit by bit learned about how to handle the CCP’s invasive nature by fielding responses from Jay Clayton.
What is Regulatory Capture
John E Deaton deserves all the credit for his outstanding research.
@JohnEDeaton1
WHAT IS REGULATORY CAPTURE: regulatory capture, a form of government failure in which a regulatory agency, which is supposed to represent the needs of the greater public, advances the commercial concerns of a special interest group w/in the sector the agency is supposed to be regulating.”
Wojtas gives more details on that secret meeting with the SEC
https://x.com/JohnEDeaton1/status/1705745501591654693
Clayton told @a16z to put together a small group and then tell Hinman what they wanted. March 26, 2018, a16z’s lawyer, Lowell Ness, sent Hinman the and Safe Harbor. Two days later they met with Hinman. ETH was the only token referenced in the Safe Harbor. Hinman’s law firm was a member of the EEA and Hinman was not retired, but instead, was a profit sharing partner with his law firm, when he declared ETH a non-security 10 weeks later.
Clayton’s law firm represented ETH’s co-founder @ethereumJoseph & @Consensys, the single largest holder and promoter of ETH and Clayton’s firm also brokered the merger between Quorum and Consensys using the JPMCoin, a direct competitor to @Ripple and XRP.
Joe Grundfest was part of this working group as you can hear below. Btw, Grundfest had spoken to @StevenNerayoff back in 2014/2015 when Nerayoff was working with Joe Lubin & @VitalikButerin (despite what they have said publicly). In sum, Grundfest helped the ETH founders and the small working group.
Clayton, despite his law firm representing Consensys and ETH’s co-founder, arguably Ripple’s biggest competitor, voted to bring a lawsuit against Ripple – as he was walking out of th@SECGov. He then immediately went to One River which made a $1 Billion bet on Bitcoin & ETH (beneficiaries of the Hinman Speech), 2 Months before the Ripple lawsuit was filed.
Yet, the guy that was part of the small group and helped ETH – Joe Grundfest – PLEADED WITH CLAYTON – not to bring the suit. He said XRP should not be treated any differently than ETH. Grundfest pointed out that the mass exodus of Clayton, Hinman, Berger etc was suspicious. He said there was no reason to bring the suit considering XRP had traded publicly for SEVEN YEARS and that innocent people with no connection to Ripple would suffer the most. It all fell on deaf ears.
Hinman retuned to his EEA law firm $15 Million richer after less than 3 years at the SEC and then later BECAME PARTNERS at A16Z WITH THE SAME PEOPLE WHO HELPED PUT THAT TOGETHER ASKING FOR THE SAFE HARBOR FOR ETH.
Btw, Hinman was sternly directed – in writing – to STOP meeting his EEA partners at Simpson Thacher because every single time he had contact with them he violated 18 USC 208. His own SEC emails PROVE Hinman IGNORED that instruction and violated 18 USC 208 THREE MORE times by meeting them, including meeting his partner from the Chinese Office regarding the Canaan IPO. What do they make you ask? BTC & ETH mining equipment!!
Yep, nothing for the IG to investigate here. Oh, to have subpoena power!
@SECGov regulatory capture caught on tape back in 2015.
This is the culture.
Former #SEC Director of Office of Compliance – Andrew Bowden.
This is what you get with the revolving door
https://x.com/NerdNationUnbox/status/1552799954082603008
This is what you get with the revolving door If anyone wants to see the actual memo
https://d16yj43vx3i1f6.cloudfront.net/uploads/2018/04/perkins_memo_final.pdf
TO: William Hinman
Director, Division of Corporation Finance
Amy Starr, Chief Office of Capital Markets Trends
Valerie Szczepanik, Assistant Director
Head of the SEC Distributed Ledger Technology Working Group
FROM: Perkins Coie LLP
RE: Investment Contract Analysis of Utility Tokens
This memorandum discusses whether and under what circumstances so-called “utility tokens” would be securities as defined under the Securities Act of 1933, as amended (the “Securities Act”).1
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