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Overnight, Crypto Moguls Were Severely Mocked by 'Vanity Fair'

Crypto industry leaders, including Cathie Wood (ARK Invest), Olaf Carlson-Wee (Polychain), and Michael Novogratz (Galaxy Digital), faced widespread mockery after a Vanity Fair cover story portrayed them in an unflattering light. The article, titled “Crypto’s True Believers Demand to Be Taken Seriously,” depicted the billionaires as eccentric and out-of-touch—highlighting their interests in alien life, extreme survivalism, and going barefoot, while questioning their influence on global power structures. Industry insiders criticized the piece for reinforcing negative perceptions. A former fashion photographer noted the deliberately demeaning composition of the photos, such as camera angles that diminished Wood’s stature and shadowy, unflattering shots of Novogratz. The coverage was seen as a deliberate attempt to ridicule the crypto elite rather than engage with the industry seriously. The incident sparked broader reflection: some argued that seeking validation from traditional media contradicts crypto’s original anti-establishment ethos. As one founder noted, “We weren’t built for Vanity Fair or Forbes. We were built to rebel against everything they represent.” The episode underscores the tension between crypto’s growing political influence and its struggle for cultural legitimacy.

marsbit03/18 11:27