Bitcoin maximalists accused of promoting a SEC-approved IPO
2 min readIt’s like a BNB, only better, say alleged bitcoin maximalists. On August 24, INX launched a tokenized initial public offering, or IPO, approved by the SEC. The company describes its mission as bringing “opportunities for regulated digital assets to institutions and retail investors.”
Bitcoin maximalists promoted the INX IPO
The next day, several crypto influencers tweeted what looked like a promotion of the company and its token. Stefan Jespers, known as WhalePanda on Twitter, compared the INX token to the Binance coin (BNB):
Similar sentiment was expressed by Jameson Lopp, CTO of Casa and a self-proclaimed cypherpunk:
It is not an offer of equity. Guaranteed share of cash flow.
Both Jespers and Lopp are well-known bitcoin maximalists – a group that some categorize as maintaining negative attitudes toward altcoins and token offerings. Their statements have left many people confused, with some conviction that the Twitter accounts in question may be hacked. In the end, however, there was a more prosaic explanation for this unusual behavior. According to a tweet from CobraBitcoin, a longtime custodian of Bitcoin.org, the individuals in question were given the opportunity to buy a token from INX for $ 0.01. He claimed that this would allow them to make up to 90 times the profit during the IPO:
Other important members of the bitcoin maximalist camp also appeared as advisors to the company, including Alena Vranova, the founder of SatoshiLabs, and Samson Mow, head of strategy at Blockstream. All, including the aforementioned “BTC Maximalists”, with the exception of Mow, are listed on the company’s website. But neither Vranova nor Mow wrote anything on Twitter about the crypto exchange or its public offering.
Business advisors often receive various support payments. However, some may find it hypocritical that the same people who accused others of selling “nothing” are now promoting the token offer without offering any information.
Blockstream CEO Adam Back recently likened many of the largest altcoin projects to the Ponzi scheme. However, it doesn’t seem to bother Mow on INX.
Do you count among bitcoin maximalists? What do you think about this situation?
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