Changpeng Zhao, founder of Binance, took to social media to criticize CNBC after the channel accidentally aired a photo of Justin Sun, founder of TRON, while discussing CZ in a recent broadcast. CZ did not hold back, stating that this error was due to 'a lack of understanding of cryptocurrency' in mainstream media.
This confusion quickly spread on Crypto Twitter, causing the community to express frustration over the continuous misinformation in mainstream media regarding the cryptocurrency industry. While it may seem like just a simple error, many see this as part of a larger pattern of misinformation and lack of vetting.
Mainstream Media and Cryptocurrency: The Growing Divide
This is not the first time a major media outlet has carelessly provided basic information about cryptocurrency. As cryptocurrency becomes more complex and scales up, the gap between native cryptocurrency knowledge and information from mainstream media becomes increasingly apparent.
CZ's public comments highlight a broader point: if mainstream media wants to report on digital assets and the people behind them, accuracy and understanding are essential. Confusing the two most prominent figures in the cryptocurrency space - especially in discussions about regulation and legality - can lead to misinformation and damage reputations.
Justin Sun, who is not related to the topic of the program, has yet to publicly respond to this mistake.
A Call for Responsible Cryptocurrency Journalism
As cryptocurrency adoption increases globally, the demand for reliable and informative journalism is also rising. Industry leaders like CZ are now calling for better standards, urging media outlets to hire experts who truly understand the field.
With billions of dollars in market value and public perception at stake, these reporting errors are no longer harmless oversights; they become serious reputational risks.