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How Paid Hype Pumps Tokens and Silences Critics

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Chainwire Collaborations with Crypto News Outlets

Crypto news stories are vanishing without a trace. Articles questioning the influence of paid press releases have quietly disappeared from major crypto websites, leaving little evidence they were ever published.

At the same time, thousands of promotional announcements continue to flood the industry, shaping narratives, moving markets, and blurring the line between journalism and advertising.

The Shadow Pipeline That Fuels FOMO

Chainstory analyzed 2,893 press releases distributed between June 16 and November 1, 2025. Using AI-driven sentiment tagging and risk classification, cross-referenced with blacklists like CryptoLegal.uk, Trustpilot, and scam alert feeds, the report found that:

  • 62% originated from high-risk (35.6%) or confirmed scam projects (26.9%).
  • Low-risk issuers accounted for only 27% of releases.
  • In certain niches, such as cloud mining, scam, or high-risk content, dominated ~90% of releases.

The tone of the content was heavily promotional:

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  • Neutral: 10%
  • Overstated: 54%
  • Overtly promotional: 19%

Content type breakdown further highlighted the triviality of much coverage:

  • Product tweaks or minor feature updates: 49%
  • Exchange listing announcements (spam): 24%
  • Substantive corporate events (funding, M&A): 2% (58 releases)

Based on this, the researchers concluded that these dynamics create a “manufactured legitimacy loop.” Dubious projects buy guaranteed placements across dozens of outlets, including mainstream financial portals, sidebars, and niche crypto aggregators.

Placement allows these projects to populate “As Seen On” sections, leveraging recognition to drive retail FOMO.

Headlines are deliberately loaded with marketing buzzwords like “AI-Powered Revolution,” “RWA Game-Changer,” terms editorial desks would likely reject if scrutinized.

PR Dollars Speak Louder Than Facts

The ecosystem echoes TradFi abuses. SEC data shows press releases fueled 73% of OTC penny-stock pump-and-dump schemes from 2002–2015.

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In crypto, the effect is amplified, with algorithmic trading bots that scrape keywords such as “partnership” or “listing,” automatically triggering buy orders.

The result is a short-term price pump, often followed by unexpected declines once the underlying project fails to meet expectations.

Complicating matters, FTC rules for native advertising require clear disclosure. In practice, many crypto “Press Release” sections appear neutral, erasing the sponsored stigma and conferring the illusion of independent validation.

Retail investors often interpret the placement of content on recognized domains as evidence of legitimacy.

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Who Pulls the Strings Behind Crypto Coverage?

Chainstory’s findings initially gained traction across crypto media, with coverage appearing on TradingView, KuCoin, MEXC, and other outlets. Yet, key articles disappeared without explanation on several outlets.

  • Investing.com – formerly titled “Crypto press releases dominated by high-risk projects, Chainstory study finds.”
  • CryptoPotato, which had described wire services turning placement into a “paid commodity.”

There were no 404 errors or notices. Posts were simply erased from search and archive.

As seen by BeInCrypto via email, sources indicate that an executive from a company implicated in the pay-to-play ecosystem contacted these outlets, citing alleged data faults or bias.

Some editorial teams complied, suggesting a broader vulnerability: advertiser leverage over editorial independence.

It is imperative to note that most crypto outlets rely heavily on PR distribution revenue, particularly during bear markets or when ad budgets are tight.

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Therefore, it may be safe to assume that critical reports threatening that revenue stream can prompt quiet removals or editorial self-censorship.

“I’m not involved in the day-to-day of the site/ editorial. I need to ask about this,” CryptoPotato’s Yuval Gov responded to BeInCrypto’s request for comments.

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The Man at the Center: Nadav Dakner and Chainwire

At the core of the paid-PR ecosystem is Nadav Dakner, co-founder and CEO of Chainwire (MediaFuse Ltd.), which markets “guaranteed coverage” across crypto and TradFi sites.

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“Broadcast your crypto & blockchain news with guaranteed coverage, in industry-leading publications,” read an excerpt on the Chainwire website.

A source close to the matter told BeInCrypto that Nadav is the force behind the article takedowns.

Chainwire mirrors the practices highlighted by Chainstory: syndication to dozens of outlets in exchange for visibility, often leveraged to influence retail behavior.

Chainwire Collaborations with Crypto News Outlets
Chainwire Collaborations with Crypto News Outlets. Source: Chainwire Website

Despite scrutiny, Chainwire remains influential:

  • Named “Best PR Wire” at the 2026 CoinGape Awards (February 2, 2026).
  • Maintains strong G2 ratings for 2025 campaigns.

Meanwhile, Dakner’s past ventures provide further context. He co-founded MarketAcross and InboundJunction and was involved in the 2017 Gladius Network ICO, which raised approximately $12.7 million in ETH.

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The SEC settled with Gladius in February 2019 for unregistered securities violations, requiring refunds and registration, but no fines due to self-reporting.

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Gladius dissolved later that year without full compliance, leaving investors uncompensated.

Court documents from Gladius v. Krypton Blockchain Holdings (2018) describe Dakner introducing Gladius to Krypton Capital (founded by Ilan Tzorya). InboundJunction appeared in the whitepaper as a marketing/PR partner.

Some reports frame Dakner as the de facto CMO and investor. Investigative reporting by FinTelegram and CryptoTicker (October 2025) notes proximity to funding conduits linked to broader fraud networks involving figures such as Gery Shalon, Vladimir Smirnov, and Gal Barak.

Importantly, these connections are indirect, as no charges were filed against Dakner.

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Chainwire also faced separate 2025 allegations of exploitative practices, including unpaid “test” campaigns and ghosting publishers.

Notably, no direct link exists between Dakner or Chainwire and Chainstory takedowns.

However, overlap in ecosystems and timing raises questions about whether commercial relationships suppress critical reporting.

The Quiet Amplifiers That Shape Crypto Markets

Chainstory’s research exposes a market where credibility can be bought, manipulated, or quietly erased. When critical reports vanish from archives, it reinforces the opacity and manufactured legitimacy that fueled the original concerns.

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For retail participants within crypto’s hype-driven environment, skepticism is essential. Verification via on-chain data, independent sources, and awareness of PR revenue dependence is crucial to avoid falling prey to the pay-to-play cycle.

In crypto’s ongoing information wars, the quietest edits—deleted posts, altered archives, and erased analysis—may speak loudest, revealing the subtle levers that shape perception, sentiment, and ultimately, market outcomes.

Chainwire did not immediately respond to BeInCrypto’s request for comment.

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Analysts weigh in on Bitwise CIO Matt Hougan’s $1 million bitcoin call

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Analysts weigh in on Bitwise CIO Matt Hougan’s $1 million bitcoin call

Bitcoin could eventually reach $1 million per coin if it captures a larger share of the global store-of-value market currently dominated by gold and government bonds, according to Bitwise Asset Management CIO Matt Hougan.

In a report earlier this week, Hougan said bitcoin’s long-term upside depends less on short-term market cycles and more on how much of the world’s wealth preservation market the cryptocurrency absorbs over time.

“One million sounds crazy,” said Hougan. “It implies bitcoin will rise 14x from today’s price.”

He pointed to several factors supporting that forecast, among them the rapid growth of the global store-of-value market, including gold, government bonds and other defensive assets, which has expanded from roughly $2.5 trillion in 2004 to nearly $40 trillion today. Bitcoin currently represents only about 4% of that market by value.

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If the largest cryptocurrency were to capture roughly half of that market under current conditions, its price could approach that $1 million mark within roughly a decade, Hougan said. If the broader store-of-value market continues expanding, bitcoin would require a smaller share to reach that level.

The $1 million price fixation

The $1 million forecast has become a recurring theme across the crypto industry. President Donald Trump’s son Eric recently doubled down on his $1 million BTC call. In August, Coinbase CEO Brian Armstrong said bitcoin could reach that price by 2030.

Jack Dorsey, who ran X (formerly Twitter) until 2021 and co-founded payments firm Block (formerly Square), said bitcoin could reach $1 million in five years. Arthur Hayes, former BitMEX CEO, believes it could come as soon as 2028. Cathie Wood’s Ark Invest projected that bitcoin could reach $3.8 million by the end of the decade. Bernstein in 2024 forecast $1 million by 2033.

So why has the $1 million target become such a widely cited benchmark for bitcoin? CoinDesk asked several market analysts.

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“It’s a clean headline and shorthand for the idea that Bitcoin could rival gold as a store of value. The exact number matters less than the share of global wealth Bitcoin captures,” said Mati Greenspan, market analyst and Quantum Economics founder.

For Jason Fernandes, also a market analyst and an AdLunam co-founder, the milestone is more psychological than a precise valuation target, reflecting the belief that bitcoin could ultimately win the store-of-value debate.

However, he also believes part of the narrative is driven by marketing dynamics. “Some of the narrative is promotional because round numbers travel well and align with holder incentives,” Fernandes said, though he added that the underlying thesis is not purely hype.

“I think many investors make a ‘static denominator’ mistake, valuing bitcoin against today’s store-of-value market instead of a much larger future one,” he said.

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For Fernandes, the real question is not whether $1 million bitcoin is theoretically possible, but whether institutional adoption compounds long enough to justify that price.

Analysts agree on direction, but not the timeline

Some of the analysts who shared their comments with CoinDesk said Hougan’s projection is plausible over the long term, though most frame it as a decade-scale adoption story rather than a near-term forecast.

“Geopolitical tension strengthens the Bitcoin thesis,” said Greenspan. “In uncertain times, investors look for neutral stores of value, and Bitcoin increasingly sits in that bucket alongside gold.”

Greenspan said the milestone is possible but would likely take a decade or more, requiring continued institutional adoption and broader regulatory clarity.

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Fernandes said Hougan’s argument is essentially a market-share thesis. Bitcoin does not need to replace gold outright, he said; it only needs to capture a portion of a growing global store-of-value market.

“A $1 million bitcoin assumes long-term adoption and market-share gains within the global store-of-value market,” Fernandes said. “It’s a thesis about bitcoin’s end state if it matures into a major global monetary asset.”

Institutional adoption remains the key driver

Hougan has argued that bitcoin’s fixed supply of 21 million coins and its decentralized network give it characteristics similar to those of traditional stores of value, such as gold.

Fernandes said the long-term $1 million thesis depends largely on continued institutional adoption and growth in the global store-of-value market.

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“BTC doesn’t need to replace gold or fiat; it only needs to capture about 17% of a projected $121 trillion store-of-value market over the next decade to justify a $1 million price,” Fernandes said.

Greenspan said geopolitical uncertainty could further strengthen bitcoin’s appeal as a neutral asset.

“In uncertain times, investors look for neutral stores of value, and bitcoin increasingly sits in that bucket alongside gold,” he said, though he added that reaching such a valuation would likely take years of sustained adoption.

Nima Beni, founder of Bitlease, said the timeline could accelerate if confidence in traditional financial assets weakens.

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“Bitcoin reaches $1 million when confidence in traditional ‘safe’ assets breaks,” he said, pointing to potential sovereign debt crises or disruptions in the gold market as possible catalysts.

Despite the bullish projections, analysts said bitcoin’s path toward such valuations would depend more on long-term adoption and macroeconomic conditions than on short-term market cycles.

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Draft $5M Deal Linked to Milei’s Libra Promotion Found on Lobbyist’s Phone

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Draft $5M Deal Linked to Milei’s Libra Promotion Found on Lobbyist’s Phone

New forensic findings from the phone of crypto lobbyist Mauricio Novelli have revealed a draft document suggesting a possible $5 million agreement connected to Argentine President Javier Milei’s promotion of the Libra token, according to local media reports.

The document, recovered from Novelli’s iPhone during a judicial investigation into the Libra crypto scandal, outlines a three-part payment structure totaling $5 million. Screenshots of the note surfaced after expert materials held by prosecutor Eduardo Taiano since November were made public, Argentine outlet El Destape reported.

The draft note was reportedly written in English on Feb. 11, 2025, just three days before Milei posted about the Libra token on X. “Hello friends, this is the final agreement discussed with H,” the text begins, which is believed to refer to crypto entrepreneur Hayden Davis.

The document then details the payment structure. “$1.5M of liquid tokens or cash as an advance. $1.5M in liquid tokens or cash = Milei announces on Twitter that his advisor is Hayden Davis/Kelsier/the Davis family. $2M in tokens or cash = contract signed in person with Milei for blockchain/AI consulting for the Argentine government and/or Javier Milei and review with Javier and Karina,” the text reads.

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An excerpt of the draft document. Source: El Destape

Notably, the draft note does not specify who would receive the funds.

Related: Argentina turns up the heat in Libra scandal with sweeping asset freeze

Another note outlines crisis message after scandal

Investigators also recovered a separate note drafted on Feb. 16, 2025, two days after the Libra controversy erupted online. The message appears to outline a public statement intended to calm the situation.

“This is what I want for the tweet. This is the only thing that saves him, me, and us,” the note’s translation from Spanish reads. The draft message then states support for the Libra project while denying any financial involvement and attributing accusations of wrongdoing to political opponents.

Authorities believe the message may have been prepared for Milei to post on social media or reference in an interview, according to local media reports.

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Novelli was in Dallas during the token’s launch. Call records show he communicated with Milei and his sister Karina shortly before and after the president’s social media post about the token. As the controversy spread online, Novelli also held multiple calls with presidential adviser Santiago Caputo while the government managed the crisis.

Related: Argentine exchange Ripio bets on peso stablecoins amid cautious 2026 outlook

Libra hit $4 billion after Milei post before crashing

In February last year, Milei posted on X about the Libra (LIBRA) memecoin, which briefly reached a $4 billion market capitalization before plunging 94% within hours.