- Noted crypto influencer BitBoy Crypto asserts that Prometheum, a crypto startup, has questionable connections to the U.S. Securities and Exchange Commission (SEC), suggesting a covert crypto takeover plot.
- The startling allegations stem from BitBoy Crypto’s scrutiny of SEC Chair Gary Gensler’s potential influence on Prometheum and the latter’s ties to the Chinese Communist Party (CCP) and Wanxiang Blockchain.
In a recent exposé, BitBoy Crypto, a respected voice in the crypto world, took to YouTube to unravel an intricate web involving the crypto startup Prometheum and its supposed ties to the U.S. Securities and Exchange Commission (SEC). BitBoy Crypto insinuated the possibility of a covert operation to seize control of the crypto market, orchestrated by Gensler and Prometheum, presenting a plethora of evidence in support of his startling theory.
BitBoy Crypto keenly analyzed the potential sway held by Gary Gensler, the SEC Chair, over Prometheum’s apparent privileged standing. He contended that Gensler’s involvement, in conjunction with Prometheum’s links to the Chinese Communist Party (CCP) and Wanxiang Blockchain, cast a shadow of doubt over the company’s regulatory compliance and integrity.
Prometheum, a relatively under-the-radar entity in the crypto world, recently garnered attention for becoming the first SEC-approved Alternative Trading System (ATS) platform. The firm markets itself as the inaugural SEC-registered Special Purpose Broker-Dealer (SPBD) for digital asset securities. However, BitBoy Crypto highlighted a series of inconsistencies and questionable circumstances surrounding the company.
BitBoy Crypto scrutinized a congressional hearing featuring Aaron Kaplan, the CEO of Prometheum, in which Kaplan audaciously labeled other crypto companies as criminals. This bold assertion led to speculation about Prometheum receiving special exceptions from the SEC, hinting at potential favoritism. Representative Mike Flood dismissed Prometheum’s boast of SPBD approval as a badge of regulatory compliance as “nonsense”.
Compounding these concerns, BitBoy Crypto questioned Prometheum’s opaque business operations, branding it as “vaporware” due to the non-existence of a functional platform. The company’s association with dubious entities like Network 1 Financial Securities, previously implicated in a controversial blockchain pivot, added fuel to the fire of skepticism.
Adding to the controversy, the video highlighted a tense exchange between Kaplan and Laura Shin. Kaplan’s evasive and deflective responses further stoked doubts about Prometheum’s genuine intentions.