In an era where digital currencies are reshaping global finance, a recent NPR headline, “Why there’s so much excitement around a cryptocurrency called stablecoin,” reveals a startling disconnect. Stablecoins, a decade-old innovation, are facilitating nearly $27 trillion in annual transactions—outpacing Visa and Mastercard combined. Yet, the media’s portrayal remains rooted in novelty. This gap in understanding underscores a significant communications failure in the $4 trillion crypto industry, leaving the public in the dark about transformative advances.
Media Blind Spots
Despite Bitcoin’s staggering 110% rise year-to-date and the remarkable success of Bitcoin ETFs attracting over $50 billion in net inflows, legacy media outlets seem oblivious. A report by Perception highlights this disparity: while Bitcoin shattered records in Q2 2024, The Wall Street Journal published a mere two articles on crypto. In contrast, CNBC churned out 141 pieces, casting a spotlight on the media’s uneven coverage. This uneven attention is further highlighted by the fact that crypto spot trading was down 22% in Q2, despite Bitcoin’s rally, revealing a complex landscape that is often oversimplified.
Legacy media’s reluctance to engage with crypto narratives leaves investors, policymakers, and the public uninformed about one of the most pivotal financial innovations of our time. The result? Crypto is often viewed as volatile and untrustworthy, a mere spectacle rather than a serious asset class. This perception influences legislation and public opinion, illustrating that narratives wield as much power as numbers.
A Narrative in Crisis
This isn’t just a branding crisis; it’s a structural issue. The crypto industry, in its quest for mass appeal, favored spectacle over substance. High-profile campaigns, Super Bowl ads, and stadium naming rights sought borrowed legitimacy. When operations like FTX and BlockFi collapsed, the public was left with fragmented stories and no coherent narrative to grasp.
Today, crypto’s success is anchored in tangible market data. Industry experts argue that the role of crypto communications is not to fabricate stories but to interpret the clear market signals already present. Yet, obstacles persist. Media focus on “Presidential” meme coins trivializes the technology, casting it as a mere political toy. Bitcoin’s involvement in the 2024 election further entrenched it in partisan debates, reducing its narrative to a talking point in culture wars. Meanwhile, legislative actions, such as the House’s upcoming vote on crypto market structure and stablecoins, underscore the ongoing regulatory challenges and the need for informed discourse.
The Path Forward
Bitcoin and crypto, like the internet, lack inherent ideology. Born from the financial crisis, they offer a system founded on math, code, and consensus—an alternative to eroding trust in central institutions. As global skepticism deepens, crypto proposes a paradigm built on self-determination, global access, and direct ownership. Established and legitimate, the industry must assert its own story.
This task won’t fall to a single campaign or stakeholder. It demands continuous narrative stewardship from builders, users, and communicators who can articulate crypto’s true story. If the industry fails to take charge, others will continue to misrepresent it.
In sum, the crypto community must pivot from seeking flash to grounding its narrative in market realities. Only then can it reshape perceptions and convey the true potential of digital currencies. As the industry stands at this crossroads, the challenge is clear: tell your own story—or let it be told for you.
Source
This article is based on: Crypto Has a Comms Issue
Further Reading
Deepen your understanding with these related articles:
- Crypto ETF Investors Want ‘Ethereum Over Bitcoin’ Amid Surging Demand: CoinShares
- Crypto Inflows Near $2 Billion as Ethereum Outshines Bitcoin in Altcoin-Led Rally
- Crypto funds post $3.7B inflows as Bitcoin soars to new highs
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
