After it was reported last week that Justin Sun had tried to remove from the publication a piece about himself, a recent Fortune report has raised questions over the editorial independence of CoinDesk.
In late November, the article in question was called “I Watched Justin Sun Eat the World’s Most Expensive Banana.” I Don’t Get It.” The document included details of Sun’s consumption of artist Maurizio Cattelan’s $6.2 million banana sculpture and described the legal troubles besetting the billionaire, including a U.S. Securities and Exchange Commission (SEC) allegation of misconduct.
CoinDesk Editorial Staff Opposes Removal of Article
Fortune reports that Sun’s team objected to the tone of the article and approached Bullish, the crypto exchange firm that bought CoinDesk just before Christmas 2023 for $75 million, to force its removal. According to Bullish, he asked CoinDesk to take down the piece, but the editorial staff pushed back.
Fortune sources said CoinDesk’s editorial team wanted the article returned with an editor’s note added and opposed the removal. The article is no longer available on CoinDesk’s website; however, it is still available on other platforms, such as Yahoo News.
The removed article also mentioned that Sun’s legal team has unsuccessfully sued media outlets that reported on allegations the Tron blockchain is used to carry out malicious activities. Meanwhile, CoinDesk’s editorial team reportedly flagged these threats as a concern, given that Tron is a major sponsor of CoinDesk’s Consensus conference series.
On Dec. 16, the Fortune report said Matt Murray, chair of CoinDesk’s editorial committee who resigned as Editor in Chief of The Wall Street Journal, also resigned. Murray did not comment on whether he resigned over the controversy.
Bullish CEO Tom Farley, CoinDesk Editor in Chief Kevin Reynolds, and a spokesperson for Justin Sun did not comment on Fortune’s request for comment.
Bullish’s acquisition reignites calls for the original coin desk’s editorial independence following the incident. The purchase had already been reviewed for potential conflicts of interest where Bullish worked in the crypto industry.
And as the situation unfolds, the crypto community continues to debate the broader implications for the freedom of journalism in a sector that is near becoming an increasingly lucrative landscape raped by sponsorships and influence.
