Following the much-criticized New York Times article featuring commentary by former FTX CEO Sam Bankman-Fried (SBF), the public continues to criticize the mainstream media for running in-depth stories on SBF and Alameda Research executive Caroline Ellison. A number of articles have been criticized for being too lenient on former FTX and Alameda executives, even complimenting them.
Critics say that some articles about FTX published by Forbes, the Washington Post and the Wall Street Journal praise FTX and Alameda executives.
On November 15, 2022, Bitcoin.com News published an article about the criticism received by a New York Times (NYT) article after the publication of an article stating that former FTX executive Sam Bankman-Fried (SBF) was sleeping better and playing video games. People were not very happy with the NYT article, and critics said at the time that the publication had been soft on SBF. The NYT article is not the only editorial published by the mainstream media (MSM) that has been criticized for being soft on former FTX and Alameda executives, if not praising them.
For example, critics criticized Dan Diamond of the Washington Post for his article entitled “Before FTX collapsed, founder poured millions into pandemic prevention“. Diamond’s report highlights SBF’s significant donations toward initiatives that would prevent another pandemic like Covid-19.
Stop making him look noble. He was a crook running a Ponzi scheme.
– Chris 🌹 (@nightsky56) November 17, 2022
However, when the Washington Post tweeted Diamond’s story, the media outlet was criticized for praising SBF. “Stop making him out to be a nobleman. He was a con man running a Ponzi scheme“, said an individual to The Washington Post (WP). Another person responded to the WP’s tweet by saying, “Where’s the part that says ‘This is a sponsored post’?”
Economist and trader Alex Krüger also criticized the WP article, saying 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 21st century.
What a disgrace. pic.twitter.com/AOiadgFnHg
– Alex Krüger 🇦🇷🏆🇦🇷 (@krugermacro) November 18, 2022
Public opinion has spoken: No one cares if the Alameda executive was a “Harry Potter fan” or a so-called “math genius.”
– Seth Dillon (@SethDillon) November 17, 2022
Some people have called Washington Post reporters as clowns, the NYT article and Washington Post editorial were not the only articles condemned for praising FTX and Alameda executives. A Forbes article was also criticized for supporting former Alameda Research CEO Caroline Ellison.
At the time, the Twitter account called “Unusual Whales“(Unusual whales) tweeted: “This is wild by Forbes. Caroline Ellison is called a ‘mathematical genius’ and a ‘big risk taker’.” Unusual Whales a added :
This is wild by Forbes.
Caroline Ellison is called a “math whiz” and a person who “takes big risks.”
Rather than being called an individual who went against FTX’s own terms of services, allegedly used customer funds, and has not faced recourse. pic.twitter.com/CoJLYkBTBA
– unusual_whales (@unusual_whales) November 18, 2022
In addition, when Forbes shared his post on Twitter, the description said the FTX story was a “new alt-right darling“. One person wrote: “What happened to Forbes? They used to be better.“
“This spin is ridiculous. Caroline is ridiculed by everyone on the right and left,“Wayne Vaughan tweeted in response to the Forbes article about Caroline Ellison. The whistleblower known as “Fatman” also shared his two cents on MSM articles covering SBF and Alameda’s Ellison.
He also shared a screenshot of a Forbes reporter who wanted to report on Ellison in a “nuanced way.” “I think someone is funding a media campaign to influence the narrative around the FTX team – which should be considered nothing less than supervillains“, said Fatman. stated. “Here’s a Forbes reporter looking for favorable comments from “supporters” instead of reporting the actual facts.“
I believe someone is funding a media campaign to influence the narrative around the FTX crew – who should be seen as nothing short of supervillains.
Here is a Forbes reporter seeking favorable comments from “supporters” instead of reporting on the actual facts. pic.twitter.com/GJ700FAIjS
– FatMan (@FatManTerra) November 19, 2022
The Wall Street Journal (WSJ) was also burned for reporting favorably on Ellison of Alameda. On the forum Reddit r/cryptocurrencythe redditor “kindred_asura” shared an article on the subject. This WSJ article that focuses on Ellison. “A front page article on Caroline Ellison is currently published by the WSJ. Not ONE mention of fraud or illegal activity“, said the Redditor. The Reddit post got about 811 upvotes before r/cryptocurrency moderators decided to delete it.
“I would love to never find myself losing billions of dollars in client funds by running a fraudulent business“, commented Redditor u/kindred_asura. Overall, a large number of people seem to believe that MSM was deliberately sloppy in its reporting on FTX and Alameda executives.
In addition, social media and Reddit forum posts indicate without a doubt that no one cares that SBF is donating millions to pandemic prevention. In addition, the hundreds of comments on social media and forums suggest that people certainly don’t care about Ellison’s supposedly “nerdy” behavior and the fact that she loves Harry Potter.