The New York Times received widespread scorn from critics after publishing a benevolent article about Sam Bankman-Fried, founder of collapsed cryptocurrency exchange FTX.
Rob Copeland’s article documented how some Bahamas residents sympathized with the crypto entrepreneur’s plight because he was a good tipper and had brought many wealthy crypto investors to their island nation.
The story was immediately denounced by critics on social media, who expressed their confusion at the framing of what may be the biggest financial scandal in US history.
“What the hell is that? It’s pretty hard to argue at this point that @nytimes is trying to normalize financial crime.” answered Crypto columnist David Morris.
“What is that? The guy who stole billions under a Ponzi scheme wasn’t that bad because other crimes in the Bahamas and some people associated with FTX were tipping delivery drivers big?” said another critic.
“Oh my god, that’s real” answered Democratic strategist Neera Tanden.
“If you ever want to show someone how American journalism’s concern for crime is itself an ideology, you can compare this article to how The New York Times reports on destitute people stealing from Walgreens.” answered Criminal Defense Attorney David Menschel.
“NYT: Forget the economic consequences of crimes against rich people and focus on the economic consequences of crimes against poor people, even though crimes against poor people are often the economic consequences of crimes against rich people.” read another critical tweet.
Bankman-Fried was arrested and extradited to the United States for numerous fraud crimes related to the implosion of cryptocurrency exchange FTX. His girlfriend, Caroline Ellison, has pleaded guilty and is cooperating with the government over her role in running Alameda Research, the privately controlled hedge fund at the heart of the financial scandal.
Bankman-Fried was once valued at $16 billion. He was released on $250 million bail while awaiting trial.
Here’s more about the collapse of FTX:
The FTX Breakdown Explained | What went wrong | WSJwww.youtube.com
https://www.theblaze.com/news/nyt-torched-ftx-bankman-article The New York Times is widely fired over a bizarre article sympathizing with FTX founder Sam Bankman-Fried