Vitalik Buterin might have just incriminated himself yesterday on a Bankless interview for breaking US securities law.

>”I basically expect that the merge is going to be kind of not priced-in, by which I mean like not even just like market terms, but even just kind of like psychological and narrative terms ”

\-Vitalik Buterin

Link to timestamp: [

The Howey Test goes as follows:

1. An investment of money
2. In a common enterprise
3. With the expectation of profit
4. To be derived from the efforts of others

If an investment checks all four, then that means it’s a security under the SEC’s guidelines.

I think Vitalik’s quote here could be used as crucial ammo the SEC will use to constitute Ether being a security. Because not only is there an investment of money in a common enterprise with the Ethereum Foundation, but now Vitalik giving price predictions is giving the expectation of profits to the investor.

This is on the backdrop on the illegal 2014 initial coin offering that allowed US investors to participate in the security offering the without Ethereum Foundation registering the security with the SEC.

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13 thoughts on “Vitalik Buterin might have just incriminated himself yesterday on a Bankless interview for breaking US securities law.”

  1. Hey, I have a genuine question for the whole sub about something I do not understand. Crypto are worldwide and decentralized, most of the people in crypto are not US based, there is nothing about Vitalik that is linked to the US (guy is canadian/russian and lives in Singapour). Why then would he then incriminate himself regarding the organisation of a country he has no link to ?

    Same goes with the news of the FED today? The FED concerns the US only, why whould it impact the crypto world that much when it does not rest that much on US laws/organisations ?

    I am pretty new to the space and crypto in general so please tell me if I am missing something?

  2. Why do bitcoiners take every opportunity to try to spread FUD or throw shade at other projects? Why can’t they just focus on their own little cult…

  3. Hinman emails from the SEC v Ripple case show the SEC has already deemed ETH to not be a security (and most likely also have a vested interest in ETH). They are not ever touching ETH, it’s their golden boy

  4. Eth is 100% a security now, 110% a security after switching to PoS. With a massive premine, ico token sale, centralized development with Single leader/ceo, and now switching to centralized transaction processing by a few whales including vitalik himself profiting from it.


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