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

marsbitPubblicato 2026-03-18Pubblicato ultima volta 2026-03-18

Introduzione

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.

Author: Gu Yu, ChainCatcher

Overnight, a group photo of crypto moguls flooded the X timelines of all crypto practitioners, accompanied by overwhelming ridicule and criticism.

The protagonists in the picture include industry heavyweights such as ARK Invest CEO Cathie Wood, Polychain founder Olaf Carlson-Wee, and Galaxy Digital founder Michael Novogratz, but this still couldn't stop the storm, which even intensified.

Upon closer examination of this group photo, it can be identified as a work from the venerable celebrity magazine 'Vanity Fair,' published in the latest issue's cover story 'Cryptocurrency's True Believers Demand to Be Taken Seriously.'

Through close observation of the industry's core circle, this article delves into how, after enduring multiple rounds of regulatory storms and market crashes, the crypto industry is attempting to redefine the global power landscape in 2026 through massive political donations and a 'messianic' grand narrative.

Although the stories of crypto industry moguls have already appeared in a series of traditional magazines like 'Fortune' and 'The New York Times,' 'Vanity Fair,' as a media outlet deeply versed in celebrity culture, clearly has a more 'sinister' reporting perspective. The article doesn't dwell much on complex industry trends but instead spends considerable ink on the starkly contrasting private life details of these 'power restructurers.'

In the author's portrayal, these billionaires are depicted as a group of eccentrics who are both detached from reality and eager to dominate it: on one hand, they discuss the future of human civilization in mansions in Puerto Rico; on the other hand, they are obsessed with searching for extraterrestrial life, practicing extreme survivalism, and even often going barefoot in public.

Triple Crown Digital partner Noelle Acheson commented on this, saying, 'We can laugh (and indeed we want to laugh) at 'Vanity Fair's' photos, at the awkward poses and perplexing character portrayals... but the deeper question is: Is this how the mainstream media views the cryptocurrency industry? If so, we have a lot of work to do.'

In the view of most industry insiders, this article not only fails to positively portray cryptocurrency practitioners but also highlights stereotypes about the crypto industry.

Tally co-founder Dennison Bertram further revealed that this article is 'Vanity Fair' magazine deliberately mocking cryptocurrency and its related figures, with both text and photos filled with deep disdain and sarcasm. Before getting involved in cryptocurrency, he had worked as a fashion photographer for over a decade.

He analyzed Cathie Wood's individual portrait as an example: 'Here, Cathie Wood is deliberately made to appear small. The camera looks down on her, and the composition deliberately downplays her stature. The messy curtains, her crossed ankles, and the intentionally placed luggage cart all contribute to the deliberately created冷酷无情 (cold and ruthless) effect in the frame. Could there be a more mean-spirited visual effect than this?'

Looking at Michael Novogratz's photo: 'His eyes are squinted, looking fierce. Why? Because he's wearing glasses. He's holding them, almost invisible. His face is deliberately cast in shadow, appearing very menacing. Again, it's a mess, everything is crooked, nothing is整齐划一 (neat and uniform). Is this a positive image? I don't think so at all.'

A group of moguls who rose to the top through the crypto industry, originally attempting to seek more recognition and support from the outside world through 'Vanity Fair' magazine, unexpectedly fell into a huge 'trap' and ended up appearing as clown-like figures in the public eye. This is undoubtedly a painful lesson.

At this point, the very act of seeking validation in mainstream magazines has itself become an object of criticism. Nozomi founder Jinelle D'Lima believes that Satoshi Nakamoto and the cypherpunks never sought approval. 'The key point is, you don't need their approval: capital flows don't need it, the network runs without it, everything operates without it. We weren't built to cater to 'Vanity Fair' or 'Forbes.' We were built to resist everything they represent: gatekeepers, the establishment, and those who decide what is legitimate and what is illegal.'

'Now we're on the cover. Could it be any more ironic? This isn't like us. We were never supposed to be these people.' Jinelle D'Lima said.

The reason 'Vanity Fair's' report has become a vortex of controversy is that it reveals an awkward predicament for the crypto industry: Even though the industry attempts to exchange astronomical political donations and 'capitulation' to the mainstream financial system for 'serious treatment' from mainstream circles, within the aesthetic and value systems of mainstream culture, these new elites are still viewed as a subcultural group with cult-like overtones.

This PR disaster might be telling everyone: the true power of the crypto industry has never been in the mainstream media coverage, but in the code that can run just fine without needing to be 'taken seriously'.

Domande pertinenti

QWhat was the main criticism from the crypto community regarding Vanity Fair's article and photos?

AThe crypto community criticized Vanity Fair for portraying industry leaders in a mocking and disrespectful manner, using unflattering photos and emphasizing eccentric personal details rather than serious industry trends, which reinforced negative stereotypes.

QHow did Dennison Bertram analyze the photographic techniques used in Cathie Wood's portrait?

ADennison Bertram, a former fashion photographer, analyzed that Cathie Wood was deliberately made to appear small through a top-down camera angle, cluttered background with messy curtains, crossed ankles, and a luggage cart, creating a冷酷无情 (cold and ruthless) visual effect.

QWhat deeper issue did Noelle Acheson raise about the Vanity Fair coverage?

ANoelle Acheson raised the concern that if this is how mainstream media perceives the cryptocurrency industry, then there is still significant work to be done to improve its image and understanding among traditional outlets.

QAccording to Jinelle D'Lima, what is seeking validation from mainstream magazines like Vanity Fair contrary to?

AJinelle D'Lima stated that seeking validation from mainstream magazines contradicts the original ethos of crypto pioneers like Satoshi Nakamoto and cypherpunks, who built the industry to resist gatekeepers, institutions, and those who decide legitimacy, rather than to seek their approval.

QWhat lesson did the Vanity Fair incident teach the crypto industry about its power and acceptance?

AThe incident highlighted that the crypto industry's true power lies in its code and decentralized operation, which function without needing validation from mainstream media or traditional financial systems, and that seeking acceptance from these circles may result in misrepresentation and ridicule.

Letture associate

How Likely is it for TradeXYZ to Go Solo from Hyperliquid?

The article analyzes the possibility of TradeXYZ, a dominant project on Hyperliquid's HIP-3 real-world asset (RWA) perpetual contracts market, splitting off to build its own independent trading platform. With TradeXYZ commanding over 90% of HIP-3 volume and over 35% of Hyperliquid's total open interest, its leverage and influence are significant. The primary motive for a split is seen as capturing the underlying protocol fees, of which TradeXYZ currently receives only half. However, several factors strongly discourage such a move. First, replicating Hyperliquid's high-performance infrastructure would be challenging and could degrade TradeXYZ's product quality. Second, Hyperliquid serves as a crucial distribution channel, with most users accessing TradeXYZ's liquidity through its frontend. Third, the close, trusting relationship between the founders of both projects makes a hostile "betrayal" unlikely. The conclusion is that a split would likely result in a lose-lose scenario. Hyperliquid would lose its main growth narrative and see its valuation impacted, while TradeXYZ would face immense technical hurdles, lose its primary user channel, and damage its reputation. Instead of a full separation, the more probable path is for TradeXYZ to negotiate better terms while deepening integration, focusing on enhancing its own brand and user ownership.

marsbit29 min fa

How Likely is it for TradeXYZ to Go Solo from Hyperliquid?

marsbit29 min fa

"Teletubbies" Robot Cleaning Service, $30/Hour, Pure·Manual·Intelligence

Anthropomorphic "Teletubby" robot offers cleaning services in San Francisco at $30/hour, but it's entirely remote-controlled. The robot, created by startup Tau Robotics, can perform household tasks like washing hands, mopping floors, and taking out trash. While the initial demo videos appear impressive and are notably shown at normal speed (unlike many sped-up robot demos), the company reveals the actions are performed via human teleoperation, not autonomous AI. Tau Robotics, founded in 2024, argues this "cheat" is a strategic way to bridge the current capability gap, ensure task completion, and collect real-world home data to eventually train autonomous systems. Their service features three robot models: Chelsea for kitchens/bathrooms, Elon for regular tidying with memory, and Tony for deep cleaning. Priced at $30 per hour, it's cheaper than average human cleaners in the US. The article discusses the broader challenge of deploying humanoid robots in homes, comparing Tau's approach to others like China's Ziliang and the US's 1X Neo, which also use teleoperation. A key reason for choosing a humanoid form is to make remote control more intuitive for human operators. The piece also notes the potential "emotional value" of having a humanoid servant. The service is currently invite-only in San Francisco.

marsbit43 min fa

"Teletubbies" Robot Cleaning Service, $30/Hour, Pure·Manual·Intelligence

marsbit43 min fa

From South Korea to the United States: Blue-Collar Jobs Are Becoming Increasingly Popular, Thanks to AI

AI is reshaping the labor market's value proposition. The traditional four-year college degree is losing its appeal as a guaranteed career path, while skilled blue-collar trades like electricians, welders, and plumbers are experiencing historic demand and wage premiums. This shift is driven by dual pressures: AI's displacement of certain white-collar roles and a booming need for physical infrastructure and data center construction. Data confirms the trend. In the U.S., vocational school revenue surged, and a significant portion of recent layoffs are AI-related. Surveys show a majority of Gen Z adults plan to pursue blue-collar work, citing better job security against AI automation. Vocational education interest has exploded recently. Experts cite a psychological shift as younger generations seek tangible, AI-resistant careers and avoid high student debt. In many cases, salaries for skilled trades now match or exceed those requiring a bachelor's degree. In South Korea, semiconductor vocational high schools boast near-total employment, with graduates securing high-paying roles at companies like Samsung. The shortage is structural, exacerbated by a retiring baby boomer workforce and massive infrastructure projects. Companies like JPMorgan Chase, Meta, and Lowe's are investing heavily in training programs. However, overcoming historical stigma and a "perception gap" around trade careers remains a key challenge to closing the talent gap.

marsbit1 h fa

From South Korea to the United States: Blue-Collar Jobs Are Becoming Increasingly Popular, Thanks to AI

marsbit1 h fa

Qualcomm: AI Hype Subsides, When Will Smartphones Emerge from the Gloom?

Qualcomm reported its Q3 FY2026 results (ending June 2026), with revenue of $9.95B, down 4% YoY but above expectations. Gross margin declined to 53.1%, pressured by rising costs across manufacturing and memory. Key business segments showed mixed performance: Handset revenue fell 19.6% YoY to $5.09B, dragged by an 11% decline in non-Apple Android shipments and weaker high-end mix. Conversely, Automotive revenue surged 61% to $1.59B, and IoT grew 9% to $1.83B. Core operating profit dropped 41% YoY due to margin compression and higher expenses. Management's Q4 FY2026 guidance projects revenue of $9.7B-$10.5B, in line with consensus, but Non-GAAP EPS guidance of $2.05-$2.25 fell short of expectations. Amidst persistent weakness in its core handset market, Qualcomm is pursuing growth in AI, focusing on Edge AI (smartphones, PCs, automotive) and Data Center AI. Its data center strategy includes four pillars: AI accelerators (e.g., AI200), commercial CPUs (Dragonfly C1000), custom silicon, and connectivity solutions. While these initiatives initially boosted its stock, concerns over AI capital expenditure sustainability have since erased those gains. The company targets $5B in data center revenue for FY2027 and $15B for FY2029. The report concludes that with the traditional handset business still under pressure, the data center opportunity is currently viewed as a longer-term option, and a more conservative valuation based on core operations may be warranted until AI contributions materialize.

marsbit1 h fa

Qualcomm: AI Hype Subsides, When Will Smartphones Emerge from the Gloom?

marsbit1 h fa

From TPU to Self-Evolving Agents: How Jeff Dean Predicts the Next Step in AI

At the 2026 YC Startup School, Jeff Dean outlined his vision for AI's next phase, shifting focus from simply scaling models to building intelligent, autonomous systems. He believes AI's progress is no longer just about creating smarter models, but about integrating them into systems capable of long-term, iterative work, automated experimentation, and continuous learning. This evolution moves the competition from "who has the bigger model" to "who can best organize intelligence." Dean suggests AI capabilities are now comparable to a junior engineer, enabling the automation of complex workflows. However, the true challenge and opportunity lie in managing these AI "workers" at scale. He emphasizes the importance of **context engineering**—structuring tools, memory, and feedback loops—over raw model power. For startups, this means building deep expertise in niche domains where general models currently fail (near 0-1% success rates), leveraging proprietary data, specialized tools, and domain-specific evaluators. A recurring theme is re-examining fundamental constraints. Dean's past work, like moving Google's search index to memory or creating the TPU, stemmed from questioning outdated assumptions about hardware and cost. He sees similar inflection points today, particularly in **specialized inference hardware** to drastically reduce latency and energy consumption for real-time Agent operation. Notably, he points out that in modern AI systems, the dominant cost is often not computation but **data movement**. Reliable, long-running Agents require robust system design, borrowing concepts from distributed computing like checkpointing, state management, and parallel exploration to handle failures and maintain progress over days or weeks. As AI automates execution, the scarcest human skills will shift to **defining clear specifications**, **judging what problems are worth solving** (taste), and designing effective feedback loops. Ultimately, Dean's framework prioritizes understanding the problem deeply, identifying the true bottlenecks, and systematically building closed-loop systems where AI can not only perform tasks but also improve AI itself.

marsbit1 h fa

From TPU to Self-Evolving Agents: How Jeff Dean Predicts the Next Step in AI

marsbit1 h fa

Trading

Spot