Why Bitcoin Fans Are Outraged Over ABC News' Shocking $10 Million Accusation – You Won't Believe Their Response!

The Australian Bitcoin Industry Body (ABIB) has lodged a formal complaint against ABC News, raising concerns over an article published on December 2, 2025, discussing the recent downturn in the cryptocurrency market. The ABIB claims that the piece is riddled with “numerous factual errors” and exhibits a “one-sided interpretation” of Bitcoin’s role and significance.

The Australian Bitcoin Industry Body (ABIB) has lodged a formal complaint with the Australian Broadcasting Corporation (@abcnews) regarding its recent article on Bitcoin. The piece contained multiple factual errors, misleading claims, and one-sided framing that breach the ABC’s…

— Australian Bitcoin Industry Body (@AusBTCIndBody) December 2, 2025

ABC News, the largest media organization in Australia and a government-funded public broadcaster, published an analysis that questioned the utility of the first cryptocurrency. The article described Bitcoin, conceived nearly 18 years ago by the pseudonymous Satoshi Nakamoto, as a tool for “those operating in the shadows,” suggesting that its functional role has been overtaken by stablecoins like USDT.

“Conceived nearly 18 years ago by the mysterious Satoshi Nakamoto […] Bitcoin has yet to fulfill any of its stated goals and has no practical application,” the article states.

The complaint from the ABIB asserts that the article misrepresents Bitcoin’s purpose, conflates it with criminal activity, and relies on sensational language rather than factual evidence. The group provided a detailed account of each inaccuracy and discrepancy, emphasizing that the publication breaches ABC's editorial policy and Code of Conduct.

“The article misrepresented Bitcoin’s purpose, conflated it with criminal activity, overlooked publicly available information, and relied on sensational language rather than evidence to inform readers,” the activists noted.

In their formal complaint, ABIB representatives also highlighted their frequent reception of inquiries from the public who express disappointment at the continual misrepresentation of cryptocurrency in Australian media, especially from state-funded entities that have a legal obligation to provide accurate and impartial journalism. The organization is demanding corrections to the alleged errors in the ABC article.

This incident comes amid a broader backdrop of heightened scrutiny and skepticism toward cryptocurrencies, especially after high-profile controversies involving digital assets. Recently, U.S. President Donald Trump filed a $15 billion defamation lawsuit against The New York Times and book publisher Penguin Random House over allegations regarding his meme token, revealing the contentious landscape surrounding cryptocurrency discussions in the media.

As debates continue about the legitimacy and future of digital currencies, the fallout from ABIB’s complaint against ABC News underscores the significant tensions between media portrayals and the realities of the burgeoning cryptocurrency sector. With Bitcoin’s future still uncertain, how stories are told about it can have far-reaching implications for public perception, regulatory attitudes, and market behavior.

As the cryptocurrency landscape evolves, the importance of accurate reporting becomes crucial, not only for maintaining public trust but also for fostering an informed discussion about its role in the economy.