Bitcoin maximalists are said to have negative attitudes towards altcoins and token offerings

On August 24, INX launched a tokenized initial public offering or IPO, which was cleared by the SEC. The next day, several crypto influencers – Bitcoin maximalists – released an advertisement for the company and the token.

Bitcoin maximalists accused of ‘shilling’ an SEC-cleared token

Stefan Jespers, known as WhalePanda on Twitter, compared the INX token to Binance’s BNB:

A similar sentiment was voiced by Jameson Lopp, the CTO of Casa and a self-proclaimed cypherpunk:

Both Jespers and Lopp are considered Bitcoin maximalists – a group that some consider having a negative attitude toward altcoins and token offerings. Their statement confused many, with some speculating that the Twitter accounts in question may have been compromised. In the end, however, there’s a more blustery explanation for this unusual behavior.

According to a tweet by CobraBitcoin, the longtime manager of the Bitcoin.org website, the individuals mentioned received INX options at $ 0.01 / token. He alleged that this would allow them to make a 90x return in the IPO:

Other notable members of the Bitcoin maximization camp also appeared as corporate advisors, including Alena Vranova, founder of SatoshiLabs, and Samson Mow, chief strategy officer at Blockstream. All parties, except Mow, are listed on the company’s website. Neither Vranova nor Mow tweeted about the exchange or its public offering.

Company advisors often receive various stock options as payment for their support. However, some may find it hypocritical that the same people who have accused others of selling “snake oil” are now at a token offering without offering the proper disclosures.

Blockstream CEO Adam Back recently likened many of the most significant altcoin projects to a Ponzi scheme. However, he doesn’t seem to mind Mow’s position at INX.

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