As a seasoned crypto investor with over a decade of experience in this dynamic industry, I have witnessed numerous twists and turns that come with navigating the ever-evolving world of digital assets. The recent developments at CoinDesk, a trusted beacon of news and insights, have left me both concerned and amused.
On Friday, the management at Bullish, which is the parent company of cryptocurrency news platform CoinDesk, let go three senior editors due to organizational changes aimed at reducing expenses.
Despite some internal disagreements regarding the deletion of an article that criticized Tron’s founder, Justin Sun, the subsequent dismissals have sparked worries about the newspaper’s ability to maintain its independent editorial stance.
The head editor at CoinDesk, Kevin Reynolds, together with his deputies Marc Hochstein and Nick Baker, received a notice about their dismissal through an email.
This news comes as a result of Leo Schwartz’s reporting at Fortune.
Bullish complied with Sun’s demands
Trouble arose for Sun in November following CoinDesk’s publication of an article detailing his purchase and subsequent display of a $6.2 million banana artwork. The piece criticized the extravagance of the move while also drawing attention to Sun’s legal predicaments, such as the SEC’s fraud allegations against him.
According to reports shared with Fortune, Sun’s team requested they take down the article, as they found its tone unsuitable.
2023 saw Bullish Corporation purchasing CoinDesk for $75 million. Subsequently, they complied with a request to remove an article without formally retracting it, which resulted in the resignation of Matt Murray, previously the editor at the Wall Street Journal, who was heading the editorial committee at CoinDesk.
In an email to staff, CoinDesk CEO Sara Stratoberdha defended the layoffs as a step to boost productivity and reaffirmed the company’s commitment to journalistic integrity.
Nevertheless, Schwartz’s findings suggest that newsroom insiders are generally doubtful, and a few are even contemplating their departure.
This morning, the management at CoinDesk, which is owned by Bullish, let go of its three leading editors, including Editor-in-Chief Kevin Reynolds, due to a commotion in the newsroom regarding the deletion of an article about wealthy entrepreneur Justin Sun.
— Leo Schwartz (@leomschwartz) December 20, 2024
Inside the newsroom, some critics raised concerns that the decision for the removal might have been swayed due to Tron’s partnership with CoinDesk’s main event, Consensus, which is planning an expansion in Hong Kong.
Employees have demanded openness, asserting that this event jeopardizes Bullish’s pledges to safeguard editorial autonomy.
Read More
- Crypto ETPs hit $44.5b in YTD inflows amid Bitcoin surge
- AI16Z PREDICTION. AI16Z cryptocurrency
- A Palace x Nike Air Max DN8 Collab Is Rumored for 2025
- Hong Kong Treasury says crypto is not a ‘target asset’ for its Exchange Fund
- Amy Adams’ Nightbitch Has A Scene That Was So Disgusting, Crew Members Had To Leave The Room While They Filmed It
- Felicity Jones Has a Fresh (and Minimalist) Take on Method Dressing Trend at ‘The Brutalist’ Premiere
- The Best Fashion Audiobooks on Audible for Aspiring Stylists, Hypebeasts and Everyone In Between
- US States charges ahead to adopt Bitcoin Reserve Legislation
- Li Haslett Chen to Leave Warner Bros. Discovery Board
- Smino and Samara Cyn To Hit the Road on ‘Kountry Kousins’ Tour
2024-12-20 21:46