• Thu. May 30th, 2024

The Collapsed FTX Ranks Behind Twitter On Worst Brands List: American Survey Claims

Maria Bartiromo

ByMaria Bartiromo

May 30, 2023

Axis and Harris Polling surveyed over 16,000 Americans to discover that people rate collapsed FTX which cost them millions of dollars over Twotter and Fox Corporation. Criminal behavior is a huge turn-off on this list.

The collapsed FTX exchange and its former SEO, Sam Bamkman-Fried, as been under constant media coverage ever since the firm filed for Chapter 11 bankruptcy. However, the recent survey result released by Axios and Harris Polling revealed that people didn’t even consider FTX as the worst among the 100 highly-visible worst brands in America.

Even though the troubled FTX has wreaked many havoc in the crypto industry such as crashing many dependent crypto platforms, causing investors to lose billions of dollars, and stirring doubts and misconceptions among crypto enthusiasts, it did not come out as the worst brand in the survey, as per the survey report.

According to the study, FTX came close to the bottom brands occupying the 97th and 98th positions which are Twitter and the Fox Corporation respectively. The study which sampled about 16, 000 Americans in March 2023 showed that the acquisition of Twitter by Elon Musk decimated social media while the Dominion lawsuit ruined Fox’s ranking.

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The widely reported commentary from Tucker Carlson where he claimed he hated the former US president, Donald Trump, was a major part of what deranged Fox’s cooperation from the American citizens’ perspective.

Bitcoin Stands In The 10th Position

FTX comes in the 99th position out of the 100 firms surveyed, trailing behind popular brands like Balenciaga, Meta, TikTok, and Spirit Airlines. In addition, Tesla, another firm owned by Elon Musk, has dropped by about 50 positions from the public perspective as compared with the previous year’s survey.

The survey executed by Axios was mainly based on people’s attitudes to firms, reputations on character, ethics, trusts, and other related metrics. 

The bankrupt FTX exchange was not the only cryptocurrency platform present in the bottom 100 brands sampled in the study. As Bitcoin is rapidly gaining wide adoption globally, it was also included in the analysis.

Even though its ranking is not as bad as that of FTX, Bitcoin stands in the 10th position on the list trailing just behind oil giant BP. Bitcoin has been the favorite of different organizations that are keen on taking advantage of the coin’s utility cases. Shortly after the rating result surfaced online, the New York Times released its ‘hit piece’ on the Bitcoin subject.

Giant Technology Firms Ranked Higher On The List

According to the survey, Patagonia and Costco are the two leading firms on the list. The duo is considered the most reputable firm in the territory by the Americans who participated in the survey. 

Making the top 10 list are giant tech firms like Amazon, Apple, and Samsung. Their position showed that people hold some giant tech with good and long-standing reputations in high esteem, making them popular.

FTX was accused of misappropriating customers’ funds, lavishly spending them for personal expenses like buying personal shares, organizing parties, paying rent in a penthouse, and funding other businesses which were out of customers’ knowledge.

It betrayed the public’s trust in it, hence it ranked so low in the lost. Hence, companies that came below the crypto firm can see it as a good achievement to see people have trust in them.

Generally, the only company considered worse than FTX by respondents was the Trump Organisation, coming 100th out of 100th on the list. The criminal behavior associated with the firms reportedly deranked it and eroded the public’s trust in it.

Maria Bartiromo

Maria Bartiromo

Maria Bartiromo is a renowned news writer and journalist, celebrated for her insightful reporting and authoritative voice. With a career spanning years, she has established herself as a trusted source of accurate and comprehensive news analysis, keeping readers informed on vital global developments.

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