Maximalists of bitcoin are wrongly blamed for scams involving cryptocurrencies, says Jimmy Song.

Some individuals who are fervent supporters of Bitcoin, known as maximalists, have recently been accused of promoting scams involving cryptocurrencies. However, Jimmy Song, a well-known maximalist, defended the maximalist community by stating that they are not responsible for the recent scams that have occurred in the cryptocurrency market, such as the cases of Terra (LUNA) and the brokerage FTX. Song argued that these projects are promoted by people who like altcoins, not by Bitcoin maximalists. In addition, he stated that Bitcoin does not need pseudo-technological innovations such as DeFi and smart contracts, and that those who defend such implementations cannot prove their necessity. Despite issues with altcoins affecting the price of Bitcoin, maximalists still believe in the disruptive potential of the cryptocurrency in the future.