Coinbase CEO Criticizes New York Times Article of FTX CEO

Brian Armstrong, CEO and co-founder of Coinbase, has praised the efforts of the cryptocurrency community and blockchain experts in light of the emerging issue at FTX and its former CEO Sam Bankman-Fried.

Armstrong emphasized in a tweet posted today that ordinary people, rather than the mainstream media, had uncovered many of the developments related to FTX’s liquidity crisis and eventual bankruptcy declaration.

In response to a recent article about FTX CEO Sam Bankman Fried in the New York Times (NYT), Armstrong wrote, “Feels like a turning point for citizen journalism and loss of trust in MSM.”

The story in question is a Nov. 14 New York Times article in which former FTX CEO Sam Bankman-Fried attempts to explain the chain of events that led to the crypto exchange FTX‘s demise. The article’s tone, however, did not sit well with many in the crypto community, with some even suggesting that the NYT was biased because of SBF’s close links to U.S. politics.

As Bloomberg reporter Trung Phan points out, the “puff piece on SBF” glosses over the entrepreneur’s possible involvement in fraud and criminal activity. However, the NYT opted to report from an unconventional viewpoint.

Several crypto personalities besides Armstrong were vocal about their opinions regarding the NYT piece. Charles Hoskinson, the founder of Input Output Global, asserted that Sam Bankman-Fried was immune to media scrutiny as a result of his political donations.

“Guys, it might be a good idea to donate some money to certain politicians,” Hoskinson wrote, adding, “It seems that you can get away with anything and have zero media accountability.”

Similar sentiments were voiced by Tesla CEO Elon Musk, who responded with a sarcastic comment, asking, “Why the puff piece @nytimes?” Musk has previously shared Hoskinson’s views, claiming the former FTX CEO had avoided regulatory scrutiny until recently due to his political donations.

Meanwhile, former NSA whistleblower Edward Snowden has slammed the piece as well. Snowden claims that while SBF was featured in a “puff piece,” fellow NSA whistleblower Daniel Hale was vilified and is now serving time in prison.

Source