Barry Silbert

Barry Silbert Used ‘Biased’ Strategy to Pump ETC, Says Reporter

Huffington Post journalist David Seaman, who we interviewed last month, has a bone to pick with the Digital Currency Group’s Barry Silbert. The article in question written by Seaman claims Silbert is behind the Ethereum Classic chain pump, and the whole ETC project is a blatant scam in his opinion.

Also read: Australia’s Postal Service Reveals 3 Blockchain Use-Cases

David Seaman Slams Barry Silbert’s ETC ‘Pump’

HuffPost Reporter David Seaman
David Seaman

The very opinionated editorial published on the Huffington Post on August 6, which was titled “In Bitcoin’s Barry Silbert, A Prosecution Waiting To Happen.” Seaman claims that Silbert has pumped the ETC project, and it wouldn’t have made it this far if it wasn’t for a “wealthy guy in New York” bolstering its activity. The writer says that if Ethereum were a publicly traded company or commodity what Silbert has done would be deemed illegal. Seaman explains his opinion:

Especially in light of Mr. Silbert’s prior cryptocurrency run-in with the S.E.C., my source suggests a second look from authorities might result in more than a slap on the wrist this time, especially since CoinDesk – a leading cryptocurrency media outlet wholly acquired by Mr. Silbert’s Digital Currency Group recently – has shifted to a “discernible” and “biased” promotional strategy for Classic since the acquisition. reported on the rise of Ethereum Classic since the day it started gaining traction on the Poloniex exchange. At the time, Silbert wrote his first tweet concerning the cryptocurrency fork saying, “bought my first non-bitcoin digital currency…Ethereum Classic (ETC) At $0.50, risk/return felt right. And I’m philosophically on board.”

silbert-barry-credit-michael-sharkey-365Following Silbert’s tweet, Poloniex was pushing over 100,000 BTC in Ethereum Classic trade volume the very next day. As well as the initial tweet of purchasing his first altcoin Silbert has been talking about investing in ETC over Twitter for the past few weeks. He has noted when exchanges have added the currency to their platforms and has shared articles on the subject multiple times as well. In one instance, Silbert claims over Twitter:

Quadrupled down on my initial ETC investment. Moved ~5% of my personal bitcoin holdings to ETC this afternoon.—Given number of people calling me an idiot for buying ETC, I’m feeling real good right now. Reminds me of ’12 when I started buying BTC <$10

When Seaman attended an Ethereum developer presentation in San Francisco, he said that no one seemed to be threatened by the ETC chain. However, when the reporter asked if there was any real money behind the project the name he heard was Barry Silbert. If he was truly philosophically on board with ETC, Seaman, and other “industry watchers” believe the DCG owner should keep this kind of talk to himself.

The investor finally responded to Seaman over Twitter, writing “@d_seaman yeah, I care what you think,” to which Seaman responded by saying Silbert’s arrogance is not becoming.

In Seaman’s last article, he states that he couldn’t “care less” about what Silbert thinks about his opinion. However, it is people like Kathryn Haun, who leads the digital currency crimes office for the United States Dept. of Justice, the investor should be concerned with, according to Seaman, as well as the Ethereum investors, developers, and corporations that are using the Ethereum protocol.

What do you think about David Seaman saying Barry Silbert is pumping a scam? Do you agree with his opinion? Let us know in the comments below.

Images via Pixabay, Twitter

Jamie Redman is a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Redman has written hundreds of articles about the disruptive protocols emerging today.
  • Theodore D. Krostue

    Seaman needs to be washed out. Tired of his Dumper’s FUD

  • BitFlikz

    Semen is a known scammer inside the crypto world and cannot be trusted. Calling a respectable man like Mr Silbert into question shows how desperate he is. We must all be wary of david semens dangerous and luring tactics to his beloved personal investments. This child wants nothing more than to sell his $100 ETH stake to you at $150 and will stop at nothing. Beware.

    • Dynamic Unreality

      Care to reference your claims, or just here to talk trash? Link to a thread about David Seaman’s known scams please.

  • slipbuck

    Seaman is a clueless joke, that cant stop spewing his ignorance in the crypto world.

  • vortex

    Seaman has been consistently wrong, downright abusive and wreckless in his postings. I hope he finds help because he seems to be losing it. In the industry he is widely seen as a counter signal which pretty much means do the opposite of whatever this guy says. Time to go back to your dayjob buddy.

    • Dynamic Unreality

      It seriously seems like Barry is going through the same thing. A bad month for both of them I suppose, but they’ve both been douches lately.

  • Jon

    I think some people need to calm down. There are two ethereums (etherea?) now, deal with it.

  • loomd

    If Dave keeps this up, he’s gonna get a load of seamen in his face.

  • wonky tonky

    can someone please remove this joke seaman from official bitcoin news websites.. he’s been an idiot for years in his youtubes.. wrong all the time what else is there to say..

  • Sasha Bakhshi

    David Seaman is simply some stoner from Toronto who makes videos about his hundreds of dollars in crypto investments…. So WHYYYY is he showing up in news articles as if he is ANYONE… He’s a no one in the crypto world. I’m not trying to insult him, but COME ON PEOPLE whyyyyyyyyy is this ONE insignificant guys words even making a difference

    • spiroseliot

      in the last year we have seen many “strange” guys to promote themselves as blockchain “experts”. Is ridiculous. This guys even not really know what is a blockchain technology.


    Why people are even listening to Seaman? Never read anything meaningful from him. Just FUD and click bait.

  • spiroseliot

    I can’t think a reason for Huffington Post to keep this lunatic as his author.

  • steve

    Seamen is fun… I like his channel… but he is not as bright as Barry….and I know it is close but I think Barry edges him out in accomplishments. I like Seaman…..I love Barry…… I bought 290 gbtc at 33 bucks thanks to Barry… I have a lot of Hyper that went down 1000 percent thanks to Seamen…. I watch Seamen but when Barry speaks, I mute the rest of the world