Ethereum co-founder Vitalik Buterin met with SEC officials in 2018, just a few months before the SEC’s lawsuit against Ripple was announced. Some people believe that this meeting was evidence that Ethereum was working behind the scenes to ensure that it would not be labeled a security.
Finally, the SEC has allowed Ethereum to transition to a proof-of-stake consensus mechanism, while arguing that XRP is a security because it is controlled by Ripple. Some people believe that this is further evidence of the SEC’s bias towards Ethereum.
It is important to note that these are just a few of the factors that have led some people to believe in the Eth Gate conspiracy theory. There is no concrete evidence to prove that the SEC was in bed with Ethereum, and the SEC has not commented on the theory.
Ultimately, whether or not you believe in the Eth Gate theory is up to you. It is important to do your own research and come to your own conclusions.