The Socio-Political Connotations of Cryptocurrency: A Comparative Analysis of Crypto-Related Discourse in Fox News and The New York Times

Abstract

Although cryptocurrency is typically conceptualized as a bipartisan issue and neutral technology, the United States’ legislature has been unable to develop a unified regulatory response. This thesis conducts a qualitative analysis of 349 crypto-related news articles from Fox News and The New York to explore the socio-political values underlying both political ideologies’ framing of cryptocurrency. Through assessing the discussion of cryptocurrency price and regulation by “conservative” and “liberal” media outlets, this study finds that the similar positions towards cryptocurrency and its prospective regulation are informed by different socio-political values, priorities, and concerns. In particular, Fox News frames cryptocurrency’s threat to American national security as the primary concern whereas The New York Times prioritizes the threat to consumer protection. Furthermore, attitudes from both parties towards cryptocurrency, particularly surrounding its viability as an investment, are dynamic and largely contingent on current social and economic developments.