While the responsibilities of the now bankrupt derivatives exchange FTX are separate from those of former chief executive Sam Bankman-Fried (SBF), the industry and mainstream media seem to see things differently. Mainstream media influence sentimentThe media is supposed to be a vehicle for accurate information and awareness, an extremely important medium and resource in the rapidly expanding world of crypto-currencies. All media must report, this cannot be controlled, however, what they report must at least be within the facts available. The WSJ article portrays SBF as a major philanthropic figure, a positive connotation of his squandering of funds in a fraudulent manner. Coping with painAs a former billionaire, Sam Bankman-Fried was entitled to a luxurious lifestyle, and his $30 million mansion in the Bahamas is justified.

Source: Wall Street Journal November 26, 2022 04:54 UTC