- CoinDesk retracts op-ed articles attacking Tron’s CEO Justin Sun and Chainalysis’ head of investigations.
- Retraction linked to policy violation against pseudonymous content engaging in personal attacks.
- Author “L0la L33tz” suggests CoinDesk’s ties to crypto industry influenced the decisions.
CoinDesk rarely retracts articles. However, an op-ed written under a pseudonym criticizing Tron’s CEO, Justin Sun, was so far below “standards” that they retracted it. Kevin Reynolds, the editor-in-chief at the crypto news site, noted that while CoinDesk values privacy, it does not shield authors who engage in personal attacks.
The original article compared Sun to Sam Bankman-Fried and Do Kwon, founders of the now-defunct crypto exchange FTX and the embattled Terraform Labs, respectively, and predicted potential consequences if his blockchain firm, Tron, were to falter. In an interview, CoinDesk Chief Content Officer Michael Casey said that the retraction occurred due to a violation of the policy against pseudonymous content.
Another pseudonymous article that critiqued the head of investigations at Chainalysis, a crypto-financial analysis firm, was also retracted by CoinDesk. The author, using the pseudonym “L0la L33tz,” suggests CoinDesk’s close ties to the crypto industry influenced the decision.
L0la L33tz expressed disappointment, stating, “Such actions fall short of all and any standards a journalistic outlet should aspire.” The author emphasized the need for trustworthy, unbiased media. “Unfortunately, CoinDesk isn’t it,” L0la L33tz concluded.
Adding to the discussion, a Twitter user with the handle “Cryptadamist” pointed out instances where Tron and Sun-associated entities seemingly sponsored content on CoinDesk’s platform. Cryptadamist suggests that Justin Sun might eventually sponsor the entirety of crypto media.
In 2016, CoinDesk was acquired by Digital Currency Group (DCG), a cryptocurrency-focused venture capital firm. Notably, DCG’s investment in Chainalysis, dating back to 2015, is showcased on its website.
Despite the ownership, according to the company, CoinDesk maintains editorial independence. The platform’s Ethics Policy states, “We operate independently of the parent company. DCG has no involvement in editorial or content decisions”.
Furthermore, the policy highlights that CoinDesk journalists cover DCG and its portfolio companies and investments like any other subject. It ensures that DCG cannot exert pressure for favorable coverage, thereby upholding strict editorial autonomy.
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