Crypto News Sites Remove Articles Critical of Industry PR Practices
In a surprising development within the cryptocurrency media landscape, several prominent business-focused digital news outlets have quietly taken down articles critical of the crypto industry’s public relations practices. The removal of these posts has drawn attention to the growing concerns about the quality and reliability of information circulating in the crypto space.
Background: The Chainstory Study
Earlier this month, Chainstory, a cryptocurrency public relations and communications firm, published a study highlighting the widespread dissemination of low-quality and misleading information within crypto news channels. The study pointed out that many crypto press release services operate on a pay-to-play basis, promoting projects that are often labeled as high-risk or outright scams. Furthermore, these services guarantee coverage on certain news platforms, thereby flooding the market with content dressed up as legitimate news but actually designed to deceive investors.
The report received extensive coverage across cryptocurrency media outlets such as Coindesk and Cointelegraph. However, not all news sites that initially reported on the study maintained their coverage.
Sudden Article Removals
Among the sites retracting their coverage was Investing.com, a major digital platform focused on business news and investing. Their article titled “Crypto press releases dominated by high risk projects, Chainstory study finds” was removed within days of its publication without any official explanation. Repeated requests for comment from Semafor went unanswered by the publication.
Similarly, Crypto Potato, a niche news site popular among cryptocurrency enthusiasts, pulled its article detailing how crypto press “wires” monetize article placement by charging fees for stories, thus compromising editorial integrity.
Insiders told Semafor that executives from at least one company implicated in Chainstory’s study had contacted multiple media outlets, pressuring them to remove the critical stories on the grounds that the study’s data was flawed and biased.
Broader Implications for Crypto Media
Max Tani, Media Editor at Semafor, provides further context on the phenomenon. He points out that while premium, well-funded financial news outlets have bolstered the quality and reliability of information available to serious investors, an emerging ecosystem exists for casual investors and day traders, characterized by quick, often AI-generated content with questionable editorial standards.
This lower-tier media ecosystem heavily relies on paid promotions and hastily assembled articles, blurring the lines between authentic journalism and paid advertising. As a result, audiences depending on free content may be exposed to misleading or unverified claims, which also contribute data to large-language AI models shaping public perception.
Previous Controversies
This is not the first instance where Investing.com faced criticism for questionable practices. In 2023, Semafor reported that Investing.com’s AI-generated stories closely mirrored competitor reports published hours earlier, without providing proper attribution—a practice raising concerns about journalistic ethics in the crypto news sector.
Conclusion
The removal of critical articles about crypto PR practices by influential news sites underscores the complex and sometimes opaque interplay between cryptocurrency companies, media outlets, and information integrity. As the crypto industry continues to evolve, questions about transparency, media independence, and the dissemination of trustworthy information remain central to the conversation.
This article was originally reported by Max Tani, Media Editor at Semafor.