Former Kraken chief govt Jesse Powell thinks the mainstream media shares among the blame for the FTX fiasco that rocked the crypto world final week.
Powell took intention at a New York Instances article about FTX CEO Sam Bankman-Fried that was revealed on Monday.
The previous CEO accuses the paper of being too sympathetic to Bankman-Fried whereas attacking others within the business.
“The [mainstream media] must take accountability for its function in contributing to the legitimization and excessive standing of this bancrupt Ponzi. With out the media’s backing and the infinite puff items, victims wouldn’t have been so trusting with their financial savings. Even now, they downplay the story.
On the identical time, they had been pumping the FTX rip-off, they had been writing defamatory gossip items about business stalwarts, driving their audiences away from protected, dependable and confirmed venues. It’s too beneficiant to name these folks clowns. They betray their obligation.”
Powell himself was the goal of an unfavorable New York Instances piece this summer season. The paper described Kraken as being embroiled in a “company tradition conflict stoked by [Powell].”
Powell said on the time that the controversy was a results of 20 folks out of three,200 Kraken workers who had been sad, “triggered” and sapping the productiveness of different workers on the trade.
Powell stepped down from his submit as Kraken CEO in September.
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