Revelations that Sam Bankman-Fried secretly funded crypto news publisher The Block has deepened mistrust. Now it's up to crypto journalists to restore confidence with high standards of reporting. Opinion by NJChrisRobbins
Now FTX’s bankruptcy is rippling through the crypto industry and impacting other major exchanges like Binance and Coinbase. Can any of these exchanges be trusted as a place to store crypto?We’ve talked about the issue of trust in the crypto space – that it’s hard for advisors to tell clients where to store their crypto because there is no one perfect answer for everyone. It’s hard to know which service providers to trust.
Those of us journalists covering crypto know that finding and delivering trustworthy information in the industry has been hard enough to begin with. You may notice that the websites you read my material on are supported by advertiser dollars – but those dollars don’t impact what I write or what I get to cover. Nothing should be able to stop a good journalist from being a truth-teller and a tireless pursuer of fact.Bankman-Fried has had tendrils that wrapped around so many entities within and outside of the digital assets industry – it’s hard to tell what’s legitimate anymore.
But SBF’s influence didn’t stop there. On Tuesday, a federal indictment was unsealed in New York alleging that FTX client funds were used to fund the campaigns of recently elected public officials from both major parties, in hopes of influencing the future direction of crypto regulations.
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