The Washington PostThe Washington Post

Influencers outshine traditional media on coverage of FTX implosion

By Taylor Lorenz

05 Jan 2023 · 8 min read

Editor's Note

Internet influencers have become a major source of news about the crypto crisis, according to this Washington Post story. Unfortunately, some of them appear more concerned about clicks than accuracy.

The story of how Sam Bankman-Fried, the 30-year-old founder of the crypto exchange FTX, misused billions of dollars while charming the media and becoming a darling of Washington, hasn't upended just the crypto ecosystem. It has also served as a watershed moment for the business-news landscape, making a group of internet influencers go-to sources for people hungering for news of FTX and SBF, as Bankman-Fried is known.

Online creators including software engineer and crypto skeptic Molly White and Stephen Findeisen, a content creator who goes by the pseudonym ​​Coffezilla, have emerged as powerful independent news sources, cataloguing and exposing some of the biggest instances of alleged fraud in the crypto industry.

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