The ethereum, $ETH, foundation is under investigation by a "state authority", per CoinDesk.
According to a GitHub commit dated February 26, 2024, the Ethereum Foundation revealed that it had received a voluntary inquiry from a state authority, accompanied by a strict requirement for confidentiality. The specific nature of the inquiry and the identity of the authority remain undisclosed.
CoinDesk reported on the removal of a disclosure from the Ethereum Foundation's website, which had previously stated that the foundation had never been contacted by any agency in a manner requiring non-disclosure.
In addition, the website's warrant canary, a mechanism indicating the absence of secret government subpoenas or requests, was also removed in the same GitHub commit.
The removal of the warrant canary has raised concerns within the community as it typically serves as a subtle indicator of government intervention. Companies often include warrant canaries on their websites to signal if they've been served with secret government requests.
This recent development comes after previous legal scrutiny faced by the Ethereum Foundation, particularly concerning its alleged involvement in the 2016 Gatecoin hack.
On-chain forensic analyst TruthLabs leveled accusations against key figures, including Vitalik Buterin and Joseph Lubin, leading to intense community discussions and an independent legal investigation.
Despite these developments, the SEC continues to assess multiple applications for an Ether ETF. However, analysts express decreasing optimism regarding approval, citing a lack of engagement between applicants and SEC officials.
