New York Times Coverage on SBF Receives Backlash from Crypto Community

A recent New York Times (NYT) coverage featuring Sam Bankman-Fried, referred to as SBF, receives huge backlash in the crypto space.

New York Times recently featured SBF to provide new insights regarding the FTX scandal. However, many people reacted negatively toward the article, labeling it as a “puff piece.” 

The New York Times coverage never once mentions that SBF is at fault for what happened with FTX. Because of that, the crypto community on Twitter is furious. They suggest that NYT is trying to divert from the main issue and rather presumably “victimize” SBF. 

Trung Phan, a Bloomberg journalist, suggested that NYT’s article does not even try to portray SBF as a criminal. 

Even Elon Musk, the most influential person in the crypto space, commented on this issue on his Twitter:

The article went on to say things like “SBF built an ambitious philanthropic operation.” However, it did not mention the fact that SBF was involved in a Ponzi scheme that stole millions of dollars from FTX users.

Other large influential individuals such as Balaji Srinivasan commented on the piece by NYT, stating that people should not trust anything that the New York Times stated in the article.

Many are assuming that NYT did this because of its political ties. SBF’s FTX is a known political contributor to both the Republican and Democratic Parties in the US. He donated around $40 million in 2022 alone.

Nonetheless, other media that were in the past thought to have political ties, such as The Wall Street Journal, CNBC, The Financial Times, and many more accurately depicted what really happened with SBF and FTX, unlike New York Times.