Author: Gu Yu, ChainCatcher
Original Title: Overnight, Crypto Tycoons Were Severely Played by 'Vanity Fair'
Overnight, a group photo of crypto tycoons flooded the X timelines of all crypto practitioners, accompanied by overwhelming ridicule and criticism.
The main subjects 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 from escalating even further.
Upon closer examination of this group photo, it becomes clear that it is a work from the venerable celebrity magazine 'Vanity Fair,' featured on the cover of its latest issue's report titled 'Cryptocurrency's True Believers Demand to Be Taken Seriously.'
This article, through close observation of the industry's core circle, delves into how the crypto industry, after enduring multiple rounds of regulatory storms and market crashes, is attempting to redefine the global power landscape in 2026 with massive political donations and a 'savior-like' grand narrative.
Although the stories of crypto industry tycoons have already appeared in a series of traditional magazines such as '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 too much on complex industry trends but instead spends a significant amount of ink on the starkly contrasting private life details of these 'power redefiners.'
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, while on the other, 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 all we want (and we really do want to laugh) at these 'Vanity Fair' 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 eyes of most industry insiders, this article not only fails to positively portray the image of 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 the 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.
Analyzing Cathie Wood's close-up photo as an example, he said, 'Here, Cathie Wood is deliberately made to appear small. The camera shoots 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) atmosphere in the picture. 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. It's another 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 tycoons who rose to the top through the crypto industry originally attempted to seek more recognition and support from the outside world through 'Vanity Fair' magazine, but they didn't realize it was a huge 'trap,' instead appearing as clown-like figures in the public eye. This is undoubtedly a painful lesson.
At this point, the act of seeking recognition in mainstream magazines itself has become a target 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, network operation doesn't need it, the functioning of everything doesn't need it. We weren't built to cater to 'Vanity Fair' or 'Forbes.' We were built to resist everything they represent: gatekeepers, the system, 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 if the industry tries 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 nouveau riche 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 glossy reports of mainstream media, but in the code that can operate just fine without needing to be 'taken seriously.'
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