2024

Liberty

Kevin

Bullish, the parent company of crypto news outlet CoinDesk, dismissed three top editors on Friday, citing restructuring and cost-cutting measures.&nbsp;
The firings, however, followed internal controversy over the removal of an article critical of Tron founder <a href="https://crypto.news/tag/justin-sun/" target="_blank" rel="noopener noreferrer nofollow">Justin Sun</a>, raising concerns about the publication’s editorial independence.
Kevin Reynolds, CoinDesk’s editor-in-chief, along with deputy editors Marc Hochstein and Nick Baker, were informed of their termination via email.
This news comes as a result of Leo Schwartz’s <a href="https://fortune.com/crypto/2024/12/20/coindesk-ownership-bullish-layoff-editors-kevin-reynolds-justin-sun/" target="_blank" rel="noopener noreferrer nofollow">reporting</a> at Fortune.&nbsp;
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<h2 class="wp-block-heading" id="bullish-complied-with-sun-s-demands">Bullish complied with Sun’s demands</h2>
The turmoil began in November when CoinDesk published an article about <a rel="noopener noreferrer nofollow" href="https://crypto.news/justin-sun-eats-6-2m-dollar-cattelan-banana-art-work-in-hong-kong-event/">Sun’s purchase and consumption</a> of a $6.2 million banana art piece. The story highlighted the stunt’s absurdity while also touching on Sun’s legal issues, including fraud charges from with the <a rel="noopener noreferrer nofollow" href="https://crypto.news/tag/sec/">SEC</a>.
Sources told Fortune that Sun’s team <a href="https://crypto.news/justin-sun-allegedly-asked-coindesk-owners-to-remove-banana-article-report/" target="_blank" rel="noopener noreferrer nofollow">demanded the article’s removal</a>, deeming its tone inappropriate.&nbsp;
Bullish, <a rel="noopener noreferrer nofollow" href="https://crypto.news/crypto-exchange-bullish-acquires-coindesk-from-digital-currency-group/">which acquired</a> CoinDesk for $75 million in 2023, complied, pulling the piece without issuing a retraction notice. This decision led to the resignation of Matt Murray, a former Wall Street Journal editor, who chaired CoinDesk’s editorial committee.
In an email to staff, CoinDesk CEO Sara Stratoberdha defended the layoffs as a step to boost productivity and reaffirmed the company’s commitment to journalistic integrity.
However, according to Schwartz, newsroom insiders remain skeptical, with some considering resigning.
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 CoinDesk owners Bullish fired the publication's three top editors, including EIC Kevin Reynolds, this morning following newsroom controversy over the removal of an article about billionaire Justin Sun:<a rel="noopener noreferrer nofollow" href="https://t.co/kKBKGIbugB" target="_blank">https://t.co/kKBKGIbugB</a>— Leo Schwartz (@leomschwartz) <a href="https://twitter.com/leomschwartz/status/1870127355748106676?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">December 20, 2024</a>
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Critics within the newsroom suggested the removal was influenced by Tron’s sponsorship of CoinDesk’s flagship conference, Consensus, which is expanding to Hong Kong.&nbsp;
Staff members called for transparency, arguing the incident undermines Bullish’s promises to protect editorial independence.
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CoinDesk owner fires 3 editors after Justin Sun article controversy

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