New York Times (Opinion)
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This page refers to The New York Times opinion page, including op-ed writers and the Editorial Board. The Editorial Board’s bias is weighted, and affects this bias rating by roughly 60%. Not all columnists for the New York Times display a left bias; we rate many individual writers separately (see end of this page). While there are some right-leaning opinion writers at the Times, overall the opinion page and Editorial Board has a strong Left bias. Our media bias rating takes into account both the overall bias of the source’s editorial board and the paper’s individual opinion page writers.
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Illustration by Mark Harris; photographs by Thearon W. Henderson and Mike Rasay/NBAE, via Getty Images
Remember when the actor Matt Damon pontificated about how “fortune favors the brave” people who invest with Crypto.com? Or when the director Spike Lee applauded the digital rebellion championed by Coin Cloud? Since the spectacular collapse of the cryptocurrency exchange FTX, Mr. Damon, Mr. Lee and most other crypto-touting celebrities have largely gone silent — and for good reason.
There was little precedent for the scale and the star power that characterized the deluge of high-profile celebrity endorsements promoting cryptocurrencies. And now crypto values and crypto firms are going bust, leading investors’ savings to tank, too.
As the former chief of the Securities and Exchange Commission’s Office of Internet Enforcement, I believe regulators have some of these celebrity endorsers squarely in their sights and, when appropriate, will pursue them aggressively. Buying a bottle of Gatorade or a Rolex watch shilled by a celebrity probably never put someone’s life savings at risk. But buying into an endorsement of crypto certainly did, and these endorsers’ actions warrant intense scrutiny in the least.