CoinDesk Offends Justin Sun
According to a report by (Fortune), the well-known cryptocurrency media CoinDesk has recently been embroiled in discussions about press freedom due to an article involving blockchain billionaire Justin Sun. The article, titled (I Watched Justin Sun Eat the World’s Most Expensive Banana, But I Totally Don’t Understand), detailed the incident where Justin Sun purchased a banana artwork by modern artist Maurizio Cattelan for $6.2 million and consumed it publicly.
In addition to mentioning this artistic act, the article also outlined Justin Sun's 'dark history,' including his legal disputes with the U.S. Securities and Exchange Commission (SEC). The SEC had previously accused Justin Sun and the Tron Foundation he founded of fraudulent activities, and Justin Sun has filed to dismiss the related lawsuit. The report also noted that Justin Sun's lawyers had threatened legal action against media outlets reporting on alleged illegal financial activities involving the Tron blockchain.
CoinDesk Faces Pressure from Parent Company
According to informed sources, after the article was published, Justin Sun's team complained about its tone. Subsequently, CoinDesk's new owner, cryptocurrency exchange Bullish, demanded the editorial team remove the article from the website. Notably, Tron is one of the main sponsors of CoinDesk's flagship event—the Consensus conference. Although the article has now been removed from the CoinDesk website, it can still be accessed through content distribution channels such as Yahoo News.
CoinDesk's reporters expressed strong dissatisfaction, believing that this move undermined the editorial independence of the media. According to reports, during an editorial meeting, CoinDesk employees even protested to Bullish CEO Tom Farley and CoinDesk CEO Sara Stratoberdha, demanding the article be restored and accompanied by an editorial note.
Intervention and Influence of the New Owner
CoinDesk was founded in 2013 and gained fame for exposing the FTX fraud scandal. However, the company was sold last year by its parent company Digital Currency Group (DCG) to Bullish for approximately $75 million, far below the previously reported bid of over $200 million by (The Wall Street Journal). Bullish is a smaller cryptocurrency exchange led by former New York Stock Exchange president Tom Farley. Bullish promised that CoinDesk would operate as an independent subsidiary and appointed former (The Wall Street Journal) editor Matt Murray as the chairman of the editorial board. However, Murray recently resigned from that position.
According to sources, Bullish is preparing for an initial public offering (IPO). The company recently sent an internal email to employees requesting confidentiality regarding its plans, and CoinDesk's editorial staff was also on the recipient list.
This incident not only reflects the tense relationship between CoinDesk and its new owner Bullish but also highlights Justin Sun's influence in the cryptocurrency industry.
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