More than 60% of crypto press releases distributed online are linked to high-risk or scam-flagged projects, raising concerns about the credibility of press release distribution platforms widely used in the blockchain industry.
The finding comes from an analysis cited by crypto communications firm Chainstory, which examined 2,893 crypto press releases collected over a four-month period and published across major distribution networks.
High concentrations of risky activity were observed in sectors such as cloud mining, where around 90% of issuers fell into high-risk or scam categories.
Crypto press release wires allow projects to buy placement on popular news websites, bypassing traditional editorial judgment. Instead of earning coverage through newsworthiness or journalistic scrutiny, article placement becomes a paid service, turning visibility into a commodity rather than a signal of credibility.
According to the research, only 58 of the 2,893 releases, or about 2%, were tied to substantive developments like funding rounds, mergers and acquisitions, or original research.
A large share of crypto press releases originated from projects flagged for elevated risk, with many announcements focused on routine updates, token promotions or vague partnerships rather than substantive developments.
Around 54% of releases were classified as “overstated,” while another 19% were labeled “promotional.” Neutral, factual language accounted for just 10% of the dataset, suggesting hype has become the default communication style on crypto wires.
Crypto press release distribution platforms operate as industry-specific newswires, allowing blockchain companies to syndicate announcements across dozens of crypto news sites for a fee.
Chainstory notes that high publication volume, rather than newsworthiness, often drives visibility on these platforms.
