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Vanity Fair dresses down crypto’s elites — and exposes a deeper identity crisis

Vanity Fair dresses down crypto’s elites — and exposes a deeper identity crisis

Vanity Fair’s “crypto true believers” cover sparks backlash on X, reviving an old question: can an anti‑establishment movement win mainstream respect without losing its soul?

Summary

  • Vanity Fair’s “Crypto True Believers Demand to Be Taken Seriously” profiles Cathie Wood, Olaf Carlson-Wee and Michael Novogratz in imagery many in the industry see as mocking.
  • Crypto founders, photographers and market commentators argue the photos and prose are openly contemptuous, crystallizing how legacy media still frames the sector as spectacle.
  • The X backlash taps into Dean Eigenmann’s warning that crypto’s hunt for institutional approval has hollowed out its original mission, leaving it mainstream enough to mock but not quite…

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