The Lead Market Analyst at Swan, Sam Callahan is holding The Wall Street Journal (WSJ) accountable over a recent publication error regarding Hamas and cryptocurrency funding.
Callahan has called on WSJ to issue a retraction for a new article that falsely claimed that Hamas received $90 million worth of crypto donations.
He also emphasized the importance of correcting these errors to prevent the misuse of misleading information to prevent politicians from using the erroneous report to attack the crypto inductry.
Last week, the WSJ published an article alleging that Hamas had received approximately $90 million in cryptocurrency funding.
Callahan pointed out that the seriousness of these claims prompted significant attention, especially from anti-crypto politicians who have seized the opportunity to write a petition to the White House and Treasury, urging them to address the perceived national security threat posed by cryptocurrency financing terrorism.
However, blockchain analysis company Chainalysis debunked the WSJ’s figures after reviewing the data.
Chainalysis confirmed that WSJ had mistakenly included an entire exchange’s trading volume, totalling $82 million as part of a terrorist group’s address and only $450,000 could be traced back to a known terror-affiliated wallet.
Furthermore, the blockchain analysis firm suggested that the individual or entity controlling the wallet is likely an unrelated service provider, not a terror group member
Given this discovery disproving their claim, Callahan insists the WSJ must publish a retraction to prevent misuse of their misinformation.
He believes that a retraction is not only necessary but crucial to prevent any misuse of the misinformation by individuals with political agendas who seek to discredit the entire cryptocurrency industry.
Callahan said the false information already empowered some officials, like Senator Elizabeth Warren, to send aggressive letters urging regulators to crack down on cryptocurrencies based on the misconstrued Hamas funding allegations.
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