In a recent article titled “In the Bahamas, a Lingering Sympathy for Sam Bankman-Fried,” New York Times journalist Rob Copeland quotes local Bahamians who appear to be mainly positive about the cryptocurrency exchange founder.
According to the story, Bankman-Fried’s positive assessments from residents originate from his millions of dollars in gifts to local charities, churches, and government agencies, including the police. Locals viewed the FTX founder’s plans to establish a hotel and FTX’s headquarters as another plus.
“From Washington to Wall Street, Mr. Bankman-Fried is now persona non grata… Not so in the Bahamas, where Mr. Bankman-Fried lived for the past year in a lavish gated community on the western shore of New Providence Island, near the nation’s capital, Nassau,” the article read.
The article quoted Shemeca Moss, a Nassau school administrator, who described Bankman-Fried as someone with a “good heart” and a “Bahamian.” Another resident, a church elder, was quoted saying, “I feel bad for him.”
However, the article did not sit well with some outspoken critics on Twitter, highlighting how often the media outfit has focused on the human interest aspect in the FTX-Bankman-Fried story – rather than his fraudulent activity.
In fairness to the article, it did note that “residents may find it easier to commiserate with Mr. Bankman-Fried because it is unlikely that FTX’s victims, who prosecutors say lost as much as $8 billion in the fraud, included many locals.”
However, despite the coverage on the fallen crypto mogul and the now-bankrupt crypto exchange, there seems to be huge efforts on The New York Times’s part to show Bankman-Fried in a different light.
It was widely publicized that Bankman-Fried was interviewed at the New York Times DealBook Summit in November by Dealbook founder and editor-at-large Andrew Ross Sorkin.
But for this, The New York Times produced a lot of articles centered on the anticipated guesting: a teaser article, a blow-by-blow coverage of the interview, a transcript of the interview, and a post-interview summary–all about the single two-hour interview with the FTX founder.
READ: Failed FTX CEO Sam Bankman-Fried Will Be Speaking at the NYT DealBook Summit Next Week
The New York Times is also one of the first media outlets who conducted an interview with Bankman-Fried to let him explain “his side” of the FTX implosion story, arguably jumpstarting his so-called apology tour.
READ: In A Nutshell: How FTX Fell From Grace, According To Sam Bankman-Fried Himself
Bankman-Fried was arrested on Dec. 12 on multiple charges relating to wire fraud and money laundering. He was extradited to the U.S. on Dec. 21 and is currently out on bail after his parents posted their Palo Alto home as collateral for the $250 million bond.
READ: Caroline Ellison Pleads Guilty To FTX Fraud Scheme, Posts $250K Bail
Information for this briefing was found via The New York Times and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
