HomeCoinsEthereum (ETH)Bitcoin 'maximalists' accused of 'shilling' an SEC-cleared token

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

- Advertisement -

On August 24, INX launched a tokenized initial public offering or IPO which was cleared by the SEC. The company describes its mission as bringing “regulated digital asset opportunities to institutions and retail investors”. 

The following day, several crypto influencers tweeted what appeared to be promotional statements about the company and its token. Stefan Jespers, known as WhalePanda on Twitter, compared the INX token to Binance’s BNB:

92f66227 354b 44c8 9c8f f7e472cca551

Source: Twitter.

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

d3c10c88 7581 4389 bbe7 806d8a9d5193

Both Jespers and Lopp are considered Bitcoin maximalists — a group that some categorize as holding negative attitudes towards altcoins and token offerings. Their statements left many feeling befuddled, with some surmising that the Twitter accounts in question may have been compromised. In the end, there was a more prosaic explanation for this unusual behavior, however. According to a tweet by CobraBitcoin, the long-time custodian of Bitcoin.org’s website, the individuals in question had received INX options at $0.01 per token. He alleged that this would allow them to make a 90x profit during the IPO:

f37e31da 7be6 4ee0 877a d5824dfd9831

Source: Twitter.

Other notable members of the Bitcoin maximalist camp appeared as company advisors as well, including Alena Vranova, the founder of SatoshiLabs and Samson Mow, the chief strategy officer at Blockstream. All parties, with the exception of Mow, are listed on the company’s website. Neither Vranova or Mow have 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 promoting a token offering without offering the proper disclosures.

Blockstream’s CEO Adam Back recently likened many of the biggest altcoin projects to a Ponzi scheme. He does not appear to mind Mow’s position at INX, however.



Source link

- Advertisement -
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,513FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 63,269.00
ethereum
Ethereum (ETH) $ 4,243.03
tether
Tether (USDT) $ 1.01
bitcoin-cash
Bitcoin Cash (BCH) $ 629.19
litecoin
Litecoin (LTC) $ 196.19
eos
EOS (EOS) $ 4.90
okb
OKB (OKB) $ 24.79
tezos
Tezos (XTZ) $ 6.83
leo-token
LEO Token (LEO) $ 3.34
cardano
Cardano (ADA) $ 2.19
monero
Monero (XMR) $ 287.31
stellar
Stellar (XLM) $ 0.387187
chainlink
Chainlink (LINK) $ 32.46
huobi-token
Huobi Token (HT) $ 9.92
tron
TRON (TRX) $ 0.105499
usd-coin
USD Coin (USDC) $ 1.01
dash
Dash (DASH) $ 205.45
neo
NEO (NEO) $ 45.31
iota
IOTA (MIOTA) $ 1.42
nem
NEM (XEM) $ 0.176312
zcash
Zcash (ZEC) $ 168.74
maker
Maker (MKR) $ 2,515.25
paxos-standard
Pax Dollar (USDP) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 56.14
vechain
VeChain (VET) $ 0.145721
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX Token (FTT) $ 65.95
kucoin-shares
KuCoin Token (KCS) $ 17.69
waves
Waves (WAVES) $ 28.86