• CoinDesk has won a major award for its investigative journalism on the unraveling of FTX’s empire.
• The award is a huge moment, not just for CoinDesk, but for crypto media generally.
• Professional journalism can play an important role in bringing transparency to the opaque and scam-ridden crypto industry.
CoinDesk Wins Major Award
CoinDesk has won a major award for its investigative journalism on the unraveling of FTX’s empire. This Polk Award is one of the most prestigious in journalism and is a source of immense pride for all of us at CoinDesk. The award underscores the role that sound, professional journalism can play in bringing transparency to the too-often-opaque and, sadly, scam-ridden crypto industry.
Role Of Professional Journalism
Professional journalism can play an important role in bringing transparency to the opaque and scam-ridden crypto industry. As Deputy Editor-in-Chief Nick Baker and Executive Editor Marc Hochstein put it: “There is little precedent in journalism history for a story that made such an impact and did it so quickly.” It takes technical grounding to cover this complex topic properly as scammers hide behind techno fog and mainstream coverage may leave a lot to be desired. With its deep bench of reporters, CoinDesk uniquely combines the best of mainstream reporting with expertise on cryptocurrency topics.
Award Recognizes Journalists’ Work
The Polk Award recognizes Ian Allison and Tracy Wang’s joint work leading to three November scoops which revealed FTX’s empire issues. Ian’s initial scoop on Alameda’s balance sheet was followed by his followup on Binance being likely to withdraw its bailout and Tracy’s bombshell on CEO Sam Bankman-Fried’s “cabal of roommates” that ran FTX).
Fallout For Victims Of FTX’s Empire
Unfortunately there are victims in the fallout from what Ian and Tracy uncovered but it would have eventually been exposed if not earlier; this is why independent media is vital for an industry with trust issues.
Conclusion
Ultimately this major award serves as recognition not only for CoinDesk but also for all crypto media outlets who demonstrate their commitment to providing quality reporting within this complex technological space – playing an integral part in exposing fraud while also maintaining trust within the industry overall.