In a recent YouTube video, crypto influencer BitBoy Crypto discussed a development involving the crypto startup Prometheum and its alleged connections to U.S. Securities and Exchange Commission (SEC). BitBoy Crypto raised suspicions about a potential secret crypto takeover plan orchestrated by Gensler and Prometheum, presenting evidence to support these claims.
🤫🚨 Unveiling Gary Gensler’s Secret Plan! 🕵️♂️🔍 Discover what they don’t want you to know about the alleged crypto takeover. Stay informed and stay ahead! 🧠https://t.co/2MzmpRSidt pic.twitter.com/28Xg3GVgbR
— Ben Armstrong (@Bitboy_Crypto) August 2, 2023
BitBoy Crypto scrutinized the potential influence of Gary Gensler, the SEC Chair, on Prometheum’s favorable treatment. He argued that Gensler’s involvement, coupled with Prometheum’s ties to the Chinese Communist Party (CCP) and Wanxiang Blockchain, raised serious concerns about the company’s integrity and compliance with regulations.
Prometheum, a relatively unknown company in the crypto space, has recently gained attention for becoming the first ATS (Alternative Trading System) platform to be approved by the SEC. The firm says it’s the first SEC-registered Special Purpose Broker-Dealer (SPBD) for digital asset securities. However, BitBoy Crypto pointed out several red flags related to the company.
The video featured Aaron Kaplan, the CEO of Prometheum, making bold statements during a congressional hearing, accusing other crypto companies of being criminals. Kaplan’s testimony raised eyebrows as it hinted at the existence of special exemptions given to Prometheum by the SEC, indicating potential preferential treatment. Rep. Mike Flood debunks Prometheum’s claim of SPBD approval as evidence of regulatory compliance, calling it “nonsense.”
ICYMI: How can a broker-dealer register if they don’t know which assets are a security and which are not? America needs a digital assets framework.
Watch my exchange during Tuesday’s hearing. 👇 pic.twitter.com/hWO6RdYc81
— Rep. Mike Flood (@USRepMikeFlood) June 14, 2023
Furthermore, BitBoy Crypto expressed concerns about the company’s lack of transparency, labeling it “vaporware” due to its absence of a working platform. Additionally, Prometheum’s connections to questionable entities like Network 1 Financial Securities, previously involved in a scandalous iced tea-to-blockchain pivot, further fueled skepticism.
The video also highlighted the exchange between Kaplan and Laura Shin, where Kaplan appeared evasive and deflective, fueling suspicions about Prometheum’s true intentions.
