**News Flash: Ethereum Adviser Sues Law Firm for $100M**

Steven Nerayoff, an early adviser to Ethereum, is suing Covington & Burling for $100 million. He claims the firm mishandled his defense in a 2019 extortion case. Nerayoff alleges Covington lawyer Alan Vinegrad advised him against sharing key evidence with prosecutors, which could have cleared him.

Nerayoff and an associate were arrested in 2019 but charges were dropped in 2023 after he provided the evidence. Covington denies the allegations and plans a vigorous defense. Nerayoff's lawsuit seeks compensation for lost business and legal fees. This is one of several lawsuits he's filed this year.