Wall Street Journal corrects article misciting Hamas’ crypto terrorism funding data
” This is hardly a correction,” he added.Nic Carter, a partner at Castle Island Ventures, as well as a number of other popular individuals in crypto, are now contacting United States Senator Elizabeth Warren to retract a related letter backed by over 100 U.S. lawmakers composed to the White House on Oct. 17. The letter mentioned The WSJs misinterpreted information from Elliptic in an effort to argue that cryptocurrency postures a “nationwide security risk” to the U.S. which Congress and the Biden administration must act promptly before cryptocurrencies are utilized to finance another “disaster.” Liz Warren wyd? pic.twitter.com/e0Ew2TQzRb— nic carter (@nic__carter) October 27, 2023.
Related: Elizabeth Warren utilizes Hamas as her newest scapegoat in war on crypto Coinbases chief legal officer Paul Grewal also kept in mind that The WSJs opening paragraph is still framed as though cryptocurrency was the main financing source behind Hamas Oct. 7 attack on Israel.2/ @WSJs lede still preserves that the funding supported Hamas attacks hinged on “One answer: cryptocurrency.” Theres no evidence of that, and WSJ knows it. pic.twitter.com/BQK80b1jMd— paulgrewal.eth (@iampaulgrewal) October 27, 2023
An earlier version of this post improperly said PIJ had sent out more than $12 million in crypto to Hezbollah given that 2021,” The WSJ said.The publication said it updated other parts of the post to include “additional context” about Elliptics research.Corrections made by The WSJs Oct. 10 post. Source: The WSJThe WSJs retraction follows an Oct. 25 statement by Elliptic, which called on The WSJ to correct its misinterpretation of the data. Elliptic included that cryptocurrency funding by Hamas stays “tiny” relative to other funding sources.On Oct. 27, Elliptic was pleased to see The WSJ acknowledge its errors but said it wouldve liked to see it be more specific about its corrections.Were delighted to see the Wall Street Journal release some corrections to their post based on our feedback.
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An earlier variation of this short article incorrectly stated PIJ had actually sent out more than $12 million in crypto to Hezbollah considering that 2021,” The WSJ said.The publication said it upgraded other parts of the short article to include “extra context” about Elliptics research.Corrections made by The WSJs Oct. 10 post. Source: The WSJThe WSJs retraction follows an Oct. 25 declaration by Elliptic, which called on The WSJ to remedy its misconception of the data. Elliptic added that cryptocurrency financing by Hamas remains “small” relative to other financing sources.On Oct. 27, Elliptic was pleased to see The WSJ acknowledge its mistakes however said it wouldve liked to see it be more specific about its corrections.Were pleased to see the Wall Street Journal issue some corrections to their short article based on our feedback.
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Other Questions People Ask
What prompted the Wall Street Journal to correct its article misciting Hamas’ crypto terrorism funding data?
The Wall Street Journal issued corrections after receiving feedback from Elliptic, which highlighted misinterpretations of data regarding Hamas' funding sources. The corrections were made in response to concerns raised by crypto experts, including Nic Carter and Paul Grewal, who argued that the WSJ's framing inaccurately suggested cryptocurrency was a primary funding source for Hamas. This led to calls for retraction of a related letter by U.S. lawmakers that cited the WSJ's claims.
How did the Wall Street Journal's correction impact the narrative around cryptocurrency and terrorism funding?
The Wall Street Journal's correction shifted the narrative by acknowledging that cryptocurrency funding for Hamas is relatively small compared to other sources. This acknowledgment counters the earlier assertion that cryptocurrency posed a significant national security risk, as suggested in a letter to the White House backed by over 100 lawmakers. The correction aims to clarify misconceptions and reduce the stigma surrounding cryptocurrency in relation to terrorism financing.
What was the reaction from crypto experts regarding the Wall Street Journal's corrections on Hamas’ funding data?
Crypto experts, including Nic Carter and Paul Grewal, expressed that while they appreciated the Wall Street Journal's corrections, they felt the publication could have been more specific about the inaccuracies. They emphasized that the initial framing of cryptocurrency as a major funding source for Hamas was misleading and lacked evidence. The experts are advocating for more accurate reporting to prevent further misinterpretation of cryptocurrency's role in terrorism financing.
What specific errors did the Wall Street Journal acknowledge in its article about Hamas’ crypto terrorism funding?
The Wall Street Journal acknowledged that an earlier version of its article incorrectly stated that Palestinian Islamic Jihad (PIJ) had sent over $12 million in cryptocurrency to Hezbollah since 2021. Additionally, the WSJ admitted to misrepresenting the overall significance of cryptocurrency in Hamas' funding strategy. These corrections were made to provide additional context based on Elliptic's research, which indicated that cryptocurrency funding remains minor compared to traditional funding sources.
What steps are being taken by lawmakers in response to the Wall Street Journal's article on Hamas and cryptocurrency?
In light of the Wall Street Journal's misinterpretation of data, lawmakers, led by Senator Elizabeth Warren, are being urged to retract a letter that called for urgent action against cryptocurrency due to perceived national security risks. The letter referenced the WSJ's claims, which have now been corrected, raising concerns about the potential for cryptocurrencies to finance terrorism. This situation highlights the importance of accurate information in legislative discussions surrounding cryptocurrency regulation.