On August 24, INX launched an SEC-approved initial public offering or initial public offering. The company describes its mission as “providing regulated digital asset opportunities for institutions and retail investors”.
The next day, Several crypto influencers tweeted apparently promotional statements about the company and its token. Stefan Jespers, known on Twitter as WhalePanda, compared the INX token with the BNB from Binance::
Jameson Lopp, CTO of Casa and self-proclaimed cyberpunk, expressed a similar feeling:
Both Jespers and Lopp are considered bitcoin maximalists, a group some consider negative towards altcoins and token offerings. His statements left many puzzled, with the suspicion that the Twitter accounts in question may have been compromised. In the end, however, there was a more prosaic explanation for this unusual behavior. According to a Tweet from CobraBitcoin, As the long-time administrator of the Bitcoin.org website, the individuals in question had received INX options at a price of $ 0.01 per token. He claimed this would allow them to make 90x profit during the IPO:
Other notable members of the maximalist bitcoin camp also acted as advisors to the company, including Alena Vranova, founder of SatoshiLabs, and Samson Mow, chief strategy officer at Blockstream. All parts except Mow are listed on the company’s website. Neither Vranova nor Mow tweeted about the exchange or its public offering.
Business consultants are often given various stock options in payment for their assistance. However, Some may find it hypocritical that the same people who accused others of selling “snake oil” are now promoting a token offer without providing adequate information.
Adam Back, CEO of Blockstream, recently compared many of the largest altcoin projects to a Ponzi program. No It seems take care of Mow’s position in INX.