Coinbase CEO Criticizes NYT Article on FTX CEO

Coinbase CEO's Criticism of NYT

Coinbase CEO Brian Armstrong has expressed disapproval over a New York Times article about former FTX CEO Sam Bankman-Fried. The piece has faced backlash for allegedly overlooking Bankman-Fried's criminal activities related to the collapse of the crypto exchange FTX.

Role of Citizen Journalism

Armstrong praised the crypto community for uncovering details about FTX's financial troubles, suggesting that ordinary people, rather than mainstream media, played a pivotal role in revealing the truth. He highlighted this as a turning point for citizen journalism and a sign of declining trust in traditional media.

Allegations of Media Bias

The New York Times article faced criticism from various crypto figures for its perceived bias. Critics argue that the piece was too lenient, potentially due to Bankman-Fried’s political donations. Charles Hoskinson, founder of Input Output Global, claimed that these donations shielded him from media scrutiny.

Reactions from the Crypto Community

Elon Musk, CEO of Tesla, joined the chorus of criticism with a sarcastic remark questioning the NYT's approach. He echoed sentiments about Bankman-Fried's political connections protecting him from regulatory oversight.

Edward Snowden's Perspective

Adding to the criticism, former NSA whistleblower Edward Snowden condemned the NYT article, comparing it to the harsher treatment of fellow whistleblower Daniel Hale. Snowden pointed out the disparity in media portrayal and accountability.

In summary, the crypto community, led by figures like Brian Armstrong, has expressed strong disapproval of the New York Times article on Sam Bankman-Fried, highlighting concerns over media bias and the influence of political donations.