Influencers outshine traditional media on coverage of FTX implosion

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Influencers outshine traditional media on coverage of FTX implosion
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A group of online creators has skyrocketed to fame by covering every aspect of the FTX meltdown, but some optimize for attention over accuracy.

Many of these men have a well documented hostility toward legacy media, which often reports critically on them. Srinivasan, for instance,doxing a “vulnerable” reporter in an email to a far-right blogger. But the shift toward an online creator-driven media world is a broad, technological shift, not a singularly ideological one.

In influencer-driven media, community is key. Several crypto tea pages covering the FTX saga operate Discord servers for their followers. As Sam Bankman-Fried took the stage at the New York Times Dealbook conference last month, followers of @AutismCapital dissected the interview in the account’s Discord server. “Rich people laugh at people losing life savings to fraud,” one member posted after the audience laughed at something Bankman-Fried said onstage.

Doomberg has become a go-to newsletter for over 100,000 paying subscribers, despite being fully pseudonymous. “We’ve found when large accounts deanonymize, the brand mystique dissipates,” he explained on a Zoom call with The Post. Block doesn’t monetize his Substack and says he writes articles for fun and as a public service. “I get to meet all sorts of random people and learn about interesting things,” he said. “I don’t have any goals with this, I’m just doing what I find interesting.”

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