The Wall Street Journal has once again published an inaccurate and misleading article against me and against the crypto industry. Sadly, this is not a surprise. When the WSJ published a story in September about me and my company, ShapeShift, I responded publicly, disclosing and showing that they had based their story on inaccurate methodology and reached false and misleading conclusions. Despite this, the WSJ refused to submit its methodology to any kind of review to defend its accuracy.
So let’s get some facts on the table on this most recent article:
- First, I am not a party to the private lawsuit brought against Salt by a former CFO of the company, filed a few days ago and the apparent basis of this story rushed into print.
- Second, I have abided by the terms of my SEC settlement.
- Third, the Wall Street Journal has not dealt with me or my company ShapeShift in good faith and this recent story is simply an unfortunate continuation of that trend. As an example, the Wall Street Journal ignored evidence provided to demonstrate the ways in which ShapeShift took regulatory compliance seriously. What they prefer to do, instead, is rehash the point that I am not fond of fiat currency. Again, this is not news, nor is it relevant to legal matters having little or nothing to do with me like the Salt lawsuit.
The irony of the Wall Street Journal casting aspersions on me and ShapeShift, the world’s most transparent exchange, would be comical, if not for the time and resources we’ve had to spend dealing with their inaccurate and irresponsible stories. While we expect defenders of the status quo in the financial sector to enjoy reading attacks against the industry that aims to disrupt them, for those who care about the kind of truth and transparency that the blockchain requires of our industry, you might need to find other news outlets.