Charles Hoskinson criticizes the favorable media portrayal of FTX founder SBF amid his trial, questioning media ethics and influential support.
Highlighting Points
- Charles Hoskinson criticizes SBF’s media portrayal and influential support amid trial.
- Michael Lewis’s book on SBF, scrutinized for being an “apology tour,” draws crypto community’s ire.
- Notable crypto influencers vocalize disapproval of the positive narrative surrounding SBF.
- The critique of media and elites surfaces amid SBF’s ongoing trial and FTX’s downfall.
In a narrative that is causing shockwaves through the crypto community, Charles Hoskinson, the mind behind Cardano, has expressed overt disapproval of the supportive undertones accompanying the media portrayal of Sam Bankman-Fried (SBF), the FTX founder currently embroiled in a criminal trial.
SBF, who Hoskinson categorically labeled “the Bernie Madoff of my generation,” is not only subject to a trial but also a surging tide of elite support, particularly noted in a new book by Michael Lewis, ‘Going Infinite: The Rise and Fall of a New Tycoon’.
Looking at Michael Lewis’s dumpster fire of a book, there seems to be a group of people in the elite circles who desperately want to somehow get a public exoneration for SBF. We saw this with the kid gloves treatment by the New York times and now a book that’s basically an…
— Charles Hoskinson (@IOHK_Charles) October 9, 2023
Hoskinson Narrative on SBF
This book, which dives deep into SBF’s life, ostensibly to unpack the events leading to FTX’s collapse, has been accused by Hoskinson of serving as an “apology tour.” He suggests that the lenient and seemingly exonerative media discourse surrounding SBF is a byproduct of his nexus with influential personalities: “There seems to be a group of people in the elite circles who desperately want to somehow get a public exoneration for SBF,” remarked Hoskinson, extending his criticism to a media landscape he perceives as “profoundly corrupt” in the presence of “the right friends.”
Michael Lewis’s narrative has not gone unnoticed or uncriticized by others in the cryptocurrency realm. Blockchain investigator CoffeeZilla accuses the book of being a “full-out defense of SBF,” while esteemed crypto commentator Dan Held categorically referred to Lewis’s propagative narrative as “incredibly dishonest,” underscoring a misrepresentation of FTX’s business model and disregarding the consequential financial ramifications on victims amidst the platform’s downfall.
The amalgamation of finance and ethics has never been more pertinent. With the crypto world acutely watching the unfolding narrative around SBF and FTX, it spotlights the indispensable need for transparent, unbiased, and ethical reportage in the decentralized finance space.
Concluding Thoughts
In the oscillating scales of justice and media narrative, where on one side is the reported financial devastation of numerous victims and on the other a seemingly apologetic and defensive narrative of a disgraced founder, there rests a potent reminder of the role of media, influencers, and elite circles in shaping public perception.
Hoskinson’s shock and the ensuing discussions in the crypto space emphasize the necessity of dissecting narratives, particularly in a domain as influential and nascent as cryptocurrency. As the story continues to unfurl, the broader question about accountability, media ethics, and the role of influential networks in shaping narratives around critical financial events remains prominent, demanding rigorous discourse and examination from all corners of the financial world.
