NFT Ethics has targeted OhhShiny due to his association with Steve Cohen. However, CryptoTwitter is defending OhhShiny and questioning NFT Ethics’ research methods and conclusions.
So, what’s the Ohhshiny controversy about?
According to NFT Ethics, OhhShiny co-founded his company, Digital, with Steve Cohen. Cohen is a hedge fund manager whose company, S.A.C. Capital Advisors pleaded guilty to insider trading and agreed to pay $1.8 billion fines in one of the largest criminal cases against a hedge fund. As a result, the civil court banned Cohen from managing outside money for two years.
NFT Ethics continues: “OhhShiny himself admitted that a friend “tipped him off” about cannabis stocks two weeks before they became legal and banked more than $300k. He also admitted having worked under a pseudonym when selling drug paraphernalia was illegal. Digital has invested in a variety of different companies in the Web3 space.”
The backlash against NFT Ethics
Twitter users are firing back and accusing NFT Ethics of association fallacy. A fallacy of association occurs when someone connects an opponent with a vilified group of people or a bad person to discredit his argument.
@niftycore tweeted: “What NFT Ethics is doing is called “Association fallacy” @supercoolmisfit agreed with @niftycore and tweeted: “Cohen pleaded guilty to insider trading. @ohhshiny MAY have been tipped off about cannabis before it was legal. Where is the criminality? Your threads are usually more researched, credible & hard-hitting. This one isn’t.”
NFT Ethics is popular for uncovering the inconvenient truths about the NFT space. However, only time will tell whether NFT Ethics’s conclusions about OhhShiny’s association with Cohen prove true.