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Following the highly criticized New York Times article that features commentary from the former CEO of FTX, Sam Bankman-Fried (SBF), the public continues to give the mainstream media flak for publishing âpuff piecesâ about SBF and the Alameda Research executive Caroline Ellison. A number of articles have been called out for being too lenient on the former FTX and Alameda executives and even going as far complimenting the individuals.
On Nov. 15, 2022, Bitcoin.com News published an article about the criticism a New York Times (NYT) article received after it published an article that said the former FTX executive Sam Bankman-Fried (SBF) was sleeping better and playing video games. People were not too pleased with the NYT article, and critics said at the time that the news publication went soft on SBF. The NYT article is not the only editorial that mainstream media (MSM) outlets have published that has caught flak for being soft on former FTX and Alameda executives and even praising the individuals.
For instance, critics slammed the Washington Postâs Dan Diamond for his report called âBefore FTX collapse, founder poured millions into pandemic prevention.â Diamondâs report highlights SBFâs significant donations toward initiatives that would prevent another pandemic like Covid-19.
However, when the Washington Post tweeted Diamondâs story, the news outlet was dunked on for giving SBF praise. âStop making him look noble. He was a crook running a Ponzi scheme,â on individual wrote to the Washington Post (WP). Another person replied to the WPâs tweet and said: âWhere is the part that says âThis Is a Sponsored Post.ââ
The economist and trader Alex KrĂŒger also knocked the WP article when he tweeted:
Incredible. The @washingtonpost also decided to write about FTX as if it were the case of a well intentioned charitable entrepreneur, rather than what it is: the most egregious financial fraud of the 21th century. What a disgrace.
Some people called the Washington Post reporters clowns, and numerous people called Diamondâs reporting a âpuff piece.â The NYT article and the Washington Post editorial were not the only articles condemned for singing praise to FTX and Alameda executives. A Forbes article was also slammed for propping up the former Alameda Research CEO Caroline Ellison.
At the time, the Twitter account called âUnusual Whalesâ tweeted: âThis is wild by Forbes. Caroline Ellison is called a âmath whizâ and a person who âtakes big risks.ââ Unusual Whales added:
Rather than being called an individual who went against FTXâs own terms of services, allegedly used customer funds, and has not faced recourse.
Furthermore, when Forbes shared the article on Twitter, the description said that the FTX story was a ânew darling of the alt-right.â One person wrote: âWhat happened to Forbes? They used to be better.â
âThis spin is ridiculous. Caroline is ridiculed by everyone on the right and left,â Wayne Vaughan tweeted in reply to the Forbesâ take on Caroline Ellison. The whistleblower known as âFatmanâ also shared his two cents on the MSM stories covering SBF and Alamedaâs Ellison.
He also shared a screenshot of a reporter from Forbes that wanted to report on Ellison in a ânuanced way.â âI believe someone is funding a media campaign to influence the narrative around the FTX crew â who should be seen as nothing short of supervillains,â Fatman said. âHere is a Forbes reporter seeking favourable comments from âsupportersâ instead of reporting on the actual facts.â
The Wall Street Journal (WSJ) has also been grilled for reporting on Alamedaâs Ellison in a favorable manner. On the Reddit forum r/cryptocurrency, the Redditor âkindred_asuraâ shared a WSJ article that concentrates on Ellison. âFront page puff-piece about Caroline Ellison right now at the WSJ. Not ONE mention of fraud or illegal activities,â the Redditor said. The Reddit post got roughly 811 upvotes before r/cryptocurrency moderators decided to removed the post.
âI sure wish I never just âfind myselfâ losing billions of customersâ funds while running a fraudulent business,â the Redditor u/kindred_asura commented. Overall, a great deal of people seem to believe that MSM has purposely dropped the ball when reporting on FTX and Alameda executives.
Moreover, social media and Reddit forum posts quite arguably indicate that no one cares about SBF donating millions for pandemic prevention. Further, the hundreds of comments on social media and forums suggest that people certainly do not care about Ellisonâs so-called ânerdyâ behavior and the fact that she likes Harry Potter.
What do you think about the reporting mainstream media has done so far on the FTX scandal? Let us know what you think about this subject in the comments section below.
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