Ex Ethereum Developer’s Assertion: 70% of ETH Supply Reportedly Allocated During Pre-Mine Stage

Crypto News- In a startling revelation, former Ethereum insider Lane Rettig has unleashed a series of accusations against the Ethereum team, specifically regarding the distribution of Ethereum (ETH) during its Initial Coin Offering (ICO). Rettig boldly asserts that a staggering 70% of the entire ETH supply was dispersed in the pre-mine phase, a figure he suggests has recently decreased to around 60%.

In a widely circulated video, Rettig emphasized the lack of clarity surrounding the identity of the most significant ETH holders, aside from Ethereum co-founder Vitalik Buterin. He highlighted the mystery shrouding these major holders and insinuated that only a handful of individuals fall into this category.

Ex Ethereum Developer’s Assertion: 70% of ETH Supply Reportedly Allocated During Pre-Mine Stage

Rettig shared unconfirmed anecdotes suggesting that a small number of individuals, potentially one or two, amassed substantial portions of pre-mined ETH through pseudonymous participation. The lack of transparency surrounding ETH’s ICO has long been a subject of scrutiny within the crypto community.

The controversy deepens as Rettig, a former core developer for Ethereum, disclosed that he parted ways with the Ethereum Foundation due to concerns arising from the events during the ETH pre-mine. After working for a year and a half with the foundation, Rettig claimed he realized he was merely promoting the interests of Ethereum co-founder Joe Lubin, a departure from his original career aspirations.

This revelation echoes previous controversies surrounding the ETH ICO. Last year, a video surfaced featuring Ethereum co-founder Joseph Lubin advising early investors to create multiple pseudonymous identities during the ICO to maintain public confidence. Rettig’s departure and allegations further illuminate the complexities and questions surrounding the transparency of Ethereum’s ICO process.