CoinDesk, a crypto news outlet, is facing controversy after billionaire Justin Sun allegedly pressured its new owners, Bullish, to remove an article about his $6.2 million purchase and public consumption of a banana artwork.
What the Article Was About?
The article, titled “I Watched Justin Sun Eat the World’s Most Expensive Banana. I Don’t Get It.”, was published in late November. It covered Sun’s purchase of a 2019 artwork by Maurizio Cattelan—a banana duct-taped to a wall. Sun paid $6.2 million at a Sotheby’s auction for the piece and later ate it in a public event. The article also mentioned Sun’s ongoing legal issues, including fraud charges filed by the U.S. Securities and Exchange Commission (SEC).
CoinDesk Faced Pressure to Remove Article
Soon after its publication, sources reported that Sun’s team complained about the article’s tone, which they felt was too critical. Following these complaints, CoinDesk’s new owners, the crypto exchange Bullish, allegedly demanded to remove the article. Bullish, which is closely tied to Sun’s Tron blockchain, is a major sponsor of CoinDesk’s flagship Consensus conference series. Although the article was taken down from CoinDesk’s website, a version still remains available via Yahoo News due to syndication.
Coindesk’s Editorial Independence in Question
CoinDesk’s journalists raised concerns about their ability to report freely. In a meeting with Bullish CEO Tom Farley and CoinDesk CEO Sara Stratoberdha, staff asked for the article to be restored with an editor’s note. The incident has caused tensions between CoinDesk’s editorial team and its new owners. Now the question arises whether Bullish is influencing the publication’s content?
Justin Sun is known for his high-profile and sometimes controversial actions, such as his $4.57 million charity lunch with Warren Buffett and his $30 million purchase of tokens from Donald Trump’s World Liberty Financial. Despite facing legal troubles, Sun always attracts attention with his business dealings and public stunts.
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CoinDesk, founded in 2013, was sold to Bullish in late 2023 for $75 million. This price was much lower than previous offers above $200 million. Bullish, led by former New York Stock Exchange president Tom Farley, is a smaller crypto exchange compared to larger competitors like Coinbase and Binance. While Bullish promised that CoinDesk would remain independent, recent events have raised concerns about its influence over the publication.
