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<ul><li>Cryptocurrency advocate John E. Deaton criticizes Bitcoin maximalists for supporting SEC Chair Gary Gensler’s strict regulatory approach.</li><li>Some Bitcoin maximalists align with Gensler’s view of Bitcoin as the only true cryptocurrency, while others worry about potential harm to American financial markets.</li><li>The stringent crypto regulations under SEC Chair Gensler are causing industry-wide upheaval.</li></ul>In a recent Twitter outburst, cryptocurrency advocate John E. Deaton <a href="https://twitter.com/JohnEDeaton1/status/1661915265695711232?s&#61;20" rel="noopener noreferrer nofollow">issued</a> a scathing rebuke towards Bitcoin maximalists supporting the actions of Gary Gensler, Chair of the Securities and Exchange Commission (SEC). Deaton accuses them of abandoning their libertarian views on government overreach for the sole purpose of channeling more money into Bitcoin​​.Deaton also referenced an <a href="https://fortune.com/crypto/2023/05/24/why-gary-gensler-can-find-a-sympathetic-crowd-among-bitcoiners/" rel="noopener noreferrer nofollow">article</a> from journalist Eleanor Terrett that sheds light on why some Bitcoin maximalists may sympathize with Gensler. Despite many in the Bitcoin community having techno-libertarian leanings, a sentiment exists among some Bitcoiners, or “maxis,” that Bitcoin is the only true cryptocurrency, while all others are, at best, imitations, at worst scams.<a href="https://coinedition.com/john-e-deaton-slams-bitcoin-maximalists-for-backing-secs-gensler/" rel="noopener noreferrer nofollow">See the Original CoinEdition</a>

John E. Deaton Slams Bitcoin Maximalists for Backing SEC’s Gensler

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