The recent acquisition of Coindesk by Bullish, a well-known cryptocurrency exchange, has brought to light several questions about journalistic integrity in the cryptocurrency sector. Bullish, created by Block.one, has a controversial history, especially related to EOS, a cryptocurrency that raised a significant 4 billion dollars in Ethereum (ETH).
This event raised suspicions of market manipulation, as EOS, after fundraising, faced several adversities, including allegations of false scaling and temporary deactivation by Coinbase.
Amid this scenario, Coindesk published a article whose title suggests the imminent rejection of a Bitcoin ETF by the SEC. The source cited is Matrixport, a lesser-known company in the centralized yield business of finance. The Coindesk article states: “From a policy perspective, there is no reason to approve a bitcoin spot ETF that would legitimize Bitcoin as an alternative store of value.” This statement, however, contradicts reality, as recent decisions by the SEC they were driven more by lawsuits than by internal policies.
The situation becomes more intriguing with the involvement of BlackRock, one of the largest asset managers in the world, which is investing 10 million dollars in Bitcoin for its ETF. Additionally, Bloomberg ETF analyst Eric Balchunas says he has heard nothing to suggest a rejection by the SEC. This contradiction between sources raises doubts about Coindesk's credibility as an impartial media outlet.
People marking me crazy in this “rejection” report. We haven't heard anything that indicates anything other than approval, but I want to give the guy the benefit of the doubt, so I'm asking if he has any sources or if he's just speculating.
People tagging me like crazy on this “rejection” report. We have heard nothing to indicate anything but approval but I want to give the guy benefit of doubt so I'm asking if he has any sources or if he just speculating. He seems to be bitcoin bull and recently tweeted… https://t.co/KV7k4NXtba
— Eric Balchunas (@EricBalchunas) January 3, 2024
Another facet of this story involves Coindesk's rumor mongering suggesting that ETF approval could be a sell-off event in the news. This type of speculation, normally avoided by independent media outlets, appears to align with the questionable practices of Coindesk's new owner.
This sequence of events raises critical questions about the influence of media owners on the cryptocurrency market and the importance of reliable and unbiased sources of information for investors and enthusiasts.
At the time of publication, the BTC price it was quoted at US$ 42.700, down 5% in the last 24 hours.
