The Amazon Crypto Fiasco, Explained

<div><div><p>It all began quite innocently.</p><p>Word leaked out late last week that Amazon <a href="https://markets.businessinsider.com/news/currencies/amazon-digital-currency-crypto-blockchain-initiatives-ledger-lead-job-posting-2021-7">posted a job opportunity</a> for a crypto lead. We’d seen this sort of thing before with Apple. It didn’t move the markets much<span>. Everyone went on living their life.</span></p><p>At least, until a lesser than English newspaper got involved.</p><h2>An Unlikely Source, An Unlikelier Paper</h2><p lang="en" dir="ltr">I don’t know about you but that quote seems 100% legitimate and IMO a real Amazon insider said that quote for real <a href="https://t.co/7ITnsULL3r">pic.twitter.com/7ITnsULL3r</a></p><p>— cobie (@CryptoCobain) <a href="https://twitter.com/CryptoCobain/status/1419434917784588290?ref_src=twsrc%5Etfw">July 25, 2021</a></p><p>London-based City A.M. is one of those free papers you pass the time with on the train. That is, if your subway system doesn’t have free Wi-Fi. Regardless, City A.M. is not the first place an insider goes to spill the tea.</p><p>Nevertheless, an Amazon insider <a href="https://markets.businessinsider.com/news/currencies/amazon-digital-currency-crypto-blockchain-initiatives-ledger-lead-job-posting-2021-7">chose to divulge some details</a> regarding the behemoth’s adoption of crypto to one of their writers, Darren Parker. She divulged Amazon’s grand plans to accept Bitcoin, Ethereum, Cardano, and Bitcoin Cash, as well as bring to market its own native token. Not to mention, she said to expect crypto payment options by end of year.</p><p>As fanciful as all that sounds, one quote in particular was by far the most sus.</p><p>“It begins with Bitcoin – this is the key first stage of this crypto project, and the directive is coming from the very top… Jeff Bezos himself,” she said.</p><p>There’s something off. Maybe it’s the fact that it sounds like first draft stageplay dialogue (“Jeff Bezos himself!”). Or, maybe it’s cause it comes off like an Illuminati YouTuber on a riff. Who knows, maybe someone did actually say that. It definitely doesn’t pass the smell test, though.</p><p>So when Crypto Cobain (real name: Jordan Fish) tweeted about tricking a journalist into thinking he was an Amazon insider, he assumed everyone would know he was joking.</p><p>He was wrong.</p><h2>Crypto Cobain, Amazon Exec</h2><p><p class="embed-responsive embed-responsive-16by9 post-embed"><iframe class="embed-responsive-item" src="https://www.youtube.com/embed/XQ-YilAufSs?enablejsapi=1&amp;autoplay=0&amp;cc_load_policy=0&amp;cc_lang_pref=&amp;iv_load_policy=1&amp;loop=0&amp;modestbranding=0&amp;rel=0&amp;fs=1&amp;playsinline=0&amp;autohide=2&amp;theme=dark&amp;color=red&amp;controls=1&amp;" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe></p></p><p>Crypto Cobain, to the uninitiated, is a crypto influencer/raconteur. When he isn’t pissing off Bitcoin maxis or <a href="https://cryptosrus.com/smart-contracts-coming-to-cardano-in-90-days/">Cardano stans</a>, he’s duping unsuspecting journalists.</p><p>“Lmao just convinced a stupid crypto journalist that I was an Amazon executive insider and made loads of shit up,” Crypto Cobain tweeted on Sunday.</p><p>The tweet came after Cobie (that’s his nom de guerre’s nickname) already said he thought the quote sounded fake. Tweeting something like that alone is disqualifying. But only to anyone who bothered to scroll down.</p><p>Various journalists seized on the opportunity. Zack Seward from Coindesk said that “a crypto influencer claimed that he had orchestrated this hoax.” He said this in the context of a discussion on the City A.M. piece, which was deemed uncorroborated and unworthy of Bitcoin’s price action on Sunday.</p><p>Though, Seward took no issue with bringing up an uncorroborated hoax. Not to mention, a hoax perpetrated by a male. The unnamed insider, you’ll remember, is a woman.</p><p>“The same people that believed that Amazon was going to accept F****** BCASH AND CARDANO and launch their own native Amazon token now also believe that I dressed up as a woman and used a lawnmower receipt to trick a journalist into believing I was an Amazon executive…” Cobie said.</p><h2>Corroboration For Thee, But Not For Me</h2><p>Word quickly spread about the hoax that wasn’t. Many took glee in pointing out how hypocritical it is for the crypto world to cry foul when <a href="https://cryptosrus.com/usdc-is-killing-tether-fud/">BS FUD</a> stories come out, but spread misinformation when it suits them. Be the change you want to see, or whatever.</p><p>Shortly after, Amazon denied the report saying that they would not be adding crypto by the end of the year. It was met with a chorus of “I told you so” from the City A.M. haters. Ironically, the report included only one unnamed spokesperson from Amazon.</p><p>Why a spokesperson would choose to go unnamed is a mystery to me. Also, a mystery is why uncorroborated sources are sometimes okay.</p></div></div>