WSJ and CO: The Hypocrisy of Mainstream Media

tether.to

6 points·tommek4077··3 comments

Crypto exchanges are supposed to protect customers’ deposits while allowing them to invest, not lend client assets to a related party (e.g., a company with shareholders in common) and speculate with clients’ money

Who made this rule? The WSJ? They may want to check the contract that exchanges enter into.

Exchanges can do pretty much anything they want with assets crypto fools hand over to them. The industry is "unregulated" and many of the companies involved are privately held --- meaning their financials are not publicly available to anyone --- including the media.

The hypocrisy here rests with the WSJ and it's lame, logically flawed attempt to seperate itself from the "mainstream media".

Not sure I understand your point. This article is an attempt by Tether to stick a thumb in the eye of WSJ and CO because of their articles predicting Tether was going to be the company that pulled an FTX. It still might you never know.

Maybe you meant Vox?

Apparently the CEO of FTX did not know what was going on with his own companies - not sure why one would expect WSJ or CO to know it. One reason may be a bunch of companies working in an environment with little or no regulation. Regulation often results in at least some transparency and reporting - quarterly reports of publicly traded companies for example. Alas if such reporting was necessary for FTX maybe the CEO would have been aware of what his companies were doing.

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