Ben Armstrong’s analysis reveals critical insights into the crypto media landscape and the hidden motives of financial influencers. The CoinSpeech team has gathered the most important points from his recent appearance. Readers can find Ben Armstrong’s new video below.
The Mainstream Media’s Perception of Crypto
The traditional finance (trafi) media has relentlessly attacked the crypto industry for over a decade, labeling it with terms like terrorists and drug dealers. However, in recent years, some figures in traditional finance have started advocating for the industry. It’s refreshing to see some acceptance from The Establishment, but skepticism remains. Ben Armstrong notes, “I still have a problem trusting some of these people who are claiming to speak for the industry especially when all of their money was made in the old world trafi.”
Jim Cramer: A Lesson in Media Manipulation
Jim Cramer, a prominent financial reporter, has become a meme due to his frequent erroneous predictions, especially in crypto. While many see him as out of touch, Armstrong has a different perspective, emphasizing, “I know he actually knows much more than people realize, and it’s literally his job to be wrong and lead people in whichever direction Wall Street decides.” Armstrong refers to a 2006 interview where Cramer admitted to using media to manipulate market sentiments.
Influencers and “Exit Liquidity”
Several well-known influencers in the financial and crypto worlds follow a similar blueprint to manipulate public sentiment. Key figures like Kathy Wood, Michael Saylor, Larry Fink, and Anthony Scaramucci frequently make media appearances to promote or discourage investments, often serving their interests rather than the public’s. These influencers leverage media to position their investments advantageously, often using retail investors as “exit liquidity.”
Larry Fink and the Rise of Real-World Assets
Larry Fink, CEO of BlackRock, has been vocal about the potential of real-world asset (RWA) tokenization. Armstrong explains, “He’s intentionally planting information to move sentiment.” Fink’s promotion of RWAs coincides with BlackRock’s involvement in projects like Biddle and Ondo.
Michael Saylor and Kathy Wood: Different Agendas, Same Outcome
Michael Saylor has heavily invested in crypto, often using borrowed money. Kathy Wood, on the other hand, comes from a background with deep ties to traditional finance. Despite their different approaches, both have a significant influence on market sentiment. However, Wood’s reputation has been tarnished, with a report indicating her firm, Ark Invest, lost $14.3 billion for its investors over the past decade.
Anthony Scaramucci’s Dubious Role
Anthony Scaramucci, nicknamed “the Mooch,” has been involved in multiple ventures, including a notorious partnership with FTX. While many were wrong about FTX, Armstrong stresses that Scaramucci has proven himself untrustworthy, often pushing narratives beneficial to his firm, SkyBridge Capital.
As Ben Armstrong succinctly puts it, “There is always some kind of angle or agenda; make sure you find it.”