The Block is a crypto news website. Recently it published a news article that reported that OmiseGo had been acquired for $150 million by Charoen Pokphand Group- a leading Thailand based private company. The founder of Omise- Jun Hasegawa took offense on this report because as per him this news is fake.
Omise (Payment Gateway) has NOT been acquired by any company.
A recent article published by The Block, made false claims that we were recently acquired by CP Group.
We would like to confirm that this information is false.
For any further queries please reach us at [email protected]
— Omise (@Omise) March 30, 2019
Hasegawa, also, demanded a rectification in the article and demanded retraction as well as asked to take the necessary steps. He posted his anger response on Twitter and blamed ‘The Block’ for publishing fake news. He also warned the crypto news website that if there will not be any corrections; he will take legal actions against the website.
— JUNΞ 潤 (@JUN_Omise) March 30, 2019
Hasegawa’s heated Twitter post met with a strong response from the reporter from The Block. The reporter vouched for his story and said that he stands by his “extensive sourcing.” On Twitter, the reporter- Frank Caparro said-
Stand by our reporting. And his tweet responding to our story was deleted.
— Frank Chaparro (@fintechfrank) March 30, 2019
The entire issue started when ‘The Block’ reported on March 29th, that Charoen Pokphand Group has acquired Omise for $150 million. Here is an excerpt from the article-
“Thailand’s largest private company, Charoen Pokphand Group (CP Group), has acquired Asian payments company Omise for a reported $150 million, several sources close to the deal have told The Block.”
According to the article Charoen Pokphand Group owns the Charawanon family. The Charoen Pokphand Group has a net worth of $36 billion, according to Forbes Asia. The high net worth crowns Charawanon as the fourth richest family in Asia.
Also, last year, one of South Korea’s biggest banks- Shinhan partnered with Omise. This partnership was made keeping the acceleration of the blockchain technology in South Korea and Asia overall in mind. This made Jun Hasegawa express confidence in OmiseGo to revolutionize the digital payment systems and to bring about the ‘decentralized crypto economy.’
It is difficult to say which side of the story of the spat is true. We need to wait for time to unveil the truth. The pattern of big officials claiming the news stories to be fake is not so new. For instance, in January the founder of Binance Changpeng Zhao blamed CCN for reporting FUD. On Twitter, he expressed his amazement how CCN can make FUD reports “this bad.” He blamed irresponsible industry journalism.
Crypto industry leaders tend to expect to have positive reports to float around, whereas, the journalists simply are to do their job honestly without any discretion whatsoever. According to BreakerMag, there are a few crypto news websites which base the trade journalism on sheer honesty and don’t accept a bribe in lieu of positive news coverage. On such crypto news website is CCN.
Crypto industry is a new industry that is still in the process of deepening its roots. At this point of growth, it needs credibility. Such conflicts- of trade journalism and crypto industry giants do not churn our credibility. It rather takes us to more erratic times. At this time, when the crypto industry is struggling with scams, hacks, and many more potential hacks, working in harmony with truth principals is the only answer to gain credibility.