Michael Arrington backs The Block’s Omise acquisition story; calls it brave journalism

Michael Arrington, Founder of TechCrunch and Partner at Arrington Capital, backed The Block’s claims of Omise’s acquisition by Thailand’s Charoen Pokphand Group [CP Group]. Omise and its executives had publicly denied the claim, labeling it “fake” and “false.”

Following the 30 March Twitter battle between The Block and Omise’s CEO, Arrington backed The Block’s claims that the South Asian Payment Gateway had indeed been acquired for $150 million by the largest private company in Thailand.

Responding to XRP Research Centre, who accused The Block of “single-handedly causing more harm to crypto’s reputation than the rest of the news’ sources combined,” Arrington said that the claims made by The Block were “entirely accurate.”

He stated,

Source: Twitter

Following Omise’s repeated denials, TheBlock has updated their article to state,

“Update: This article has been updated to include Omise’s denial of the acquisition.”

Arrington further believes that there is a deal in place between CP Group and Omise. He claimed that whenever the acquisition is officially announced, the latter will “show the denial of the denial.”

Arrington also shed some light on the language used in Omise’s earlier tweet denying the deal. Citing his own sources in Asia, the report is “essentially accurate,” he said.

His tweet read,

Source: Twitter

The TechCrunch founder concluded by commending The Block’s “brave” journalism. He called this form of journalism brave as it deviated from reporting only what the “companies wanted us to know, when they wanted us to know it.”

Apart from those questioning the veracity of The Block’s claims, many Twitter users also suggested that The Block’s reportage of the ‘deal’ between the two parties could adversely affect fledgling retail investors and artificially inflate the native token’s price.

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