The New York Times has recently been a subject of mockery after it published a sympathetic article about Sam Bankman-Fried (SBF), the founder of the bankrupt crypto exchange FTX.
In the U.S., Sam Bankman-Fried is persona non grata. But in interviews across the Bahamas, residents say that his crimes were hardly comparable to the gang violence of the island, and expressed fears of economic fallout if crypto investors don’t return. https://t.co/aUeAnImTbT
— The New York Times (@nytimes) December 26, 2022
A New York Times (NYT) article by writer Rob Copeland explained how some people from the Bahamas were sympathetic to the SBF because he used to tip well and got many big shot crypto investors to visit their island nation.
Moreover, the article also documented how residents were affected more by the violence in the island nation. The report further read that SBF’s arrest would cause a retreat from wealthy crypto investors and could lead to a possible economic fallout in the region.
The article drew the ire of several people, on many levels. Some hinted at the article’s racist undertone as the Host of The Dan O’Donnell Show, said, “The black people’s crimes are way worse than the white guy’s crimes is quite the take.”
Another Twitter user Ali Partovi, CEO of Venture Capital Neo, criticized the article by saying:
This piece is a disgrace to the NYT and an insult to real journalists. SBF stole billions from innocent victims. No respectable paper should print that putting him in jail “doesn’t make any sense. Also, it falsely insinuates that crime pervades the Bahamas. For shame.
Crypto columnist David Morris responded by saying that NYT is trying to normalize financial crime.
Bankman-Fried was arrested and extradited to the US on charges of fraud crimes. His girlfriend Caroline Ellison and another aide Gary Wang pled guilty to related charges and is cooperating with the government’s investigation. Recently, SBF was granted bail on a $250 million bond package.