Crypto community reacts to mainstream media coverage of FTXs implosion: criticism, misogyny and more

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The crypto community on Twitter is heavily criticizing the mainstream media for its poor and biased coverage of the collapse of cryptocurrency exchange FTX.

In a piece published on Nov. 18 by Forbes Magazine, the CEO of FTXs affiliate company Alameda Research, Caroline Ellison, has been dubbed Queen Caroline.

The magazine attempts to portray Caroline Ellison in a neutral light by simply calling her a math whiz who loves Harry Potter and taking big risks. The magazine paints her as a new darling of the alt-right, which many are simply calling false since former FTX CEO Sam Bankman-Fried and the FTX establishment have allegedly been known as the second-largest donor to the Democrats after billionaire George Soros.

Alameda Research CEO Caroline Ellison is a math whiz who loves Harry Potter and taking big risks. She is also one of the supporting players in Sam Bankman-Fried’s FTX catastrophe and a new darling of the alt-right.

Read more: https://t.co/15QghRLzNz pic.twitter.com/FV2hGxnOGc

Forbes (@Forbes) November 18, 2022

Members of the crypto community took to Twitter to express their disdain at Forbes and other mainstream media outlets for their coverage of FTXs collapse. Bitcoin educator Dan Held shared in a tweet: What happened with FTX wasnt a mistake or risky trade gone bad it was outright fraud on an unprecedented scale. Insane that mainstream media isn’t slamming Caroline and SBF.

What happened with FTX wasnt a mistake or risky trade gone bad it was outright fraud on an unprecedented scale.

Insane that mainstream media isn’t slamming Caroline and SBF.

Dan Held (@danheld) November 18, 2022

Market analyst, who goes by the Twitter handle koreanjewcrypto, shared: MSM [Mainstream Media] trying to make Sam and Caroline some weird type of martyr is unfathomable to me. Its just completely unacceptable there needs to be accountability.

They scammed for billions

Many lives ruined, regular people, one of my closest friends mom lost everything on FTX

MSM trying to make Sam and Caroline some weird type of martyr is unfathomable to me

Its just completely unacceptable there needs to be accountability pic.twitter.com/USZA4UZDnv

King of All Korean Jews (@koreanjewcrypto) November 18, 2022

The director of the Princeton Blockchain Club, Carl Zielinski, shared NYTimes and Forbes competing to have the WORST piece on the FTX saga imaginable in response to Forbes’ article on Ellison and The New York Times puff piece on Sam Bankman-Fried.

NYTimes and Forbes competing to have the WORST piece on the FTX saga imaginable

Carl Zielinski (carlz.eth) (@CarlZielinski) November 18, 2022

Ryann Wyatt, the CEO of Polygon Studios, shared in response to Forbes Magazine: “Alameda Research CEO, who committed mass fraud and ruined the lives of many people in cahoots with SBF” is the more apt headline.

“Alameda Research CEO, who committed mass fraud and ruined the lives of many people in cahoots with SBF” is the most apt headline.

Ryan Wyatt (@Fwiz) November 18, 2022

Alex, a physics engineer with Twitter handle ajtourville, shared in a response to Forbes article: Left-wing media are actively downplaying the#FTX multi-billion dollar FRAUD as well as spearheading a not-so-subtle PR crisis management campaign for Sam Bankman -Fried & his girlfriend Caroline Ellison.

Left-wing media are actively downplaying the #FTX multi-billion dollar FRAUD as well as spearheading a not-so-subtle PR crisis management campaign for Sam Bankman-Fried & his girlfriend Caroline Ellison. pic.twitter.com/IAdYGohTL0

ALEX (@ajtourville) November 18, 2022

Others simply criticized Forbes for trying to portray Ellison as a new darling of the alt-right. 3D fashion designer @NKdfash shared How can she possibly be a darling of the alt right when her scheme literally funded the Democrats? I’m so confused.

How can she possibly be a darling of the alt right when her scheme literally funded the Democrats? I’m so confused

ENKIdigitalfashion.eth (@NKdfash) November 18, 2022 Misogyny in the crypto community

When it comes to criticism, some have argued that Ellison may be on the receiving end of harsher criticisms and attacks, even more than SBF, the former CEO of FTX.

Online, Ellison is facing a barrage of misogynist comments and vile attacks from the male-dominated crypto community. Her looks and sexuality have been the subject of ridicule and harsh judgment.

Stanford student with Twitter handle TheMichelleBao commented on the misogyny she was witnessing within the crypto community, stating: so many of these tweets about caroline ellison reek of misogyny. is it too much to ask for a world where women arent disparaged as ugly for committing massive financial fraud and supporting race science and being in a polycule ??

so many of these tweets about caroline ellison reek of misogyny. is it too much to ask for a world where women arent disparaged as ugly for committing massive financial fraud and supporting race science and being in a polycule ??

michelle (@TheMichelleBao) November 14, 2022

User Fandango, who goes by the handle the_co11ector, shared: Can we stop with the misogynistic takes on Caroline Ellison, Alameda CEO. If you want to rip into her, just highlight her clear lack of ethics and the way shes fucking over the entire space.

Can we stop with the misogynistic takes on Caroline Ellison, Alameda CEO.

If you want to rip into her, just highlight her clear lack of ethics and the way shes fucking over the entire space.

Fandango (@the_co11ector) November 12, 2022

To which account holder Crypto Bin Laden responded: Nobody is attacking her because she’s a woman. People are attacking her because she’s ugly, but not because she’s a woman.

Nobody is attacking her because she’s a woman. People are attacking her because she’s ugly, but not because she’s a woman.

Crypto Bin Laden (@CryptoBinLaden) November 18, 2022

Ellisons looks have been subject to intense ridiculousness. Shes been called fugly, hideous and even a goblin, and exaggerated caricatured images of her continue to circulate online as memes.

Related:Sam Bankman-Fried rumor mill running amok: Trading course, FBI extradition, FTX hack

On Nov. 17, Cointelegraph reported that FTX and Alameda likely colluded from the very beginning, which ultimately contributed to their collapse. Both entities were created by crypto businessman Sam Bankman-Fried, who is now being considered for extradition by US authorities for his role in the collapse of the exchange.

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