Grayscale Investments, a digital asset management company, has pulled out of a foray into a video advertising cryptocurrency trusts on Fox News. The reason was controversial comments from the host of the popular evening show Tucker Carlson regarding the shooting at the BLM protests.
On the August 27 broadcast, Tucker Carlson spoke words that could be interpreted as justifying the shooting of a 17-year-old, which killed two protesters and injured another.
Popular blogger and political columnist Brian Tyler Cohen said that eight advertisers for the show, including Grayscale, “sponsored Tucker Carlson, covering the killer on the air.”
Fred Guttenberg, who lost his 18-year-old daughter in a school shooting two years ago, said he hoped advertisers would turn their backs on Tucker, the “damn sleepwalker”, who “encourages killing”.
Grayscale’s response to public pressure drew both approval and criticism from investors. One of them decided to close an account with the company because of disagreement with the political position of its management.
The total assets under Grayscale management are $5.8 billion.
The most popular is GBTC, whose share in the company’s portfolio exceeds 80% ($4.79 billion). Grayscale Ethereum Trust with assets of $818 million is the second most popular among investors.
An ad campaign launched by Grayscale in August exploits the “Money printer go BRRR” meme, hinting at the Fed’s active printing press in the aftermath of the COVID-19 outbreak.
The videos will appear in commercial breaks on such TV channels as CNBC, MSNBC and FOX Business.