More than 60% of crypto press releases distributed online were linked to high-risk or scam-flagged projects, raising fresh questions about the credibility of press release networks commonly used across the blockchain sector. The finding comes from an analysis cited by crypto communications firm Chainstory, which reviewed 2,893 crypto press releases collected over a four-month period and published through major distribution channels.
Only about 2% of releases covered material developments
The study found that most releases were not tied to meaningful business events. Out of 2,893 press releases, just 58 were connected to substantive developments such as funding rounds, mergers and acquisitions, or original research, equal to roughly 2%. A large share of the remaining material focused on routine updates, token promotions, or loosely described partnerships. The volume was high. The substance was often thin.
The language used in these releases also leaned heavily toward promotion. Around 54% of the sample was classified as “overstated,” while another 19% was labeled “promotional.” Only 10% used neutral, factual wording. That mix suggests hype has become the default communication style across many crypto press release wires.
Cloud mining showed the highest concentration of risky issuers
Risk was especially concentrated in certain segments. In cloud mining, about 90% of issuers fell into high-risk or scam categories, according to the analysis. That figure stood out sharply and points to uneven risk distribution across crypto verticals.
The report describes crypto press release platforms as industry-specific newswires that let blockchain companies pay to syndicate announcements across dozens of crypto news sites. This structure allows projects to secure placement without going through normal editorial review. Instead of earning coverage through news value or journalistic scrutiny, visibility is bought as a service.
Publication volume, not news value, often drives visibility
Chainstory said visibility on these platforms is often shaped by publication volume rather than the importance of the announcement itself. That creates a problem for readers trying to assess credibility, and it also puts pressure on media practices tied to crypto public relations. If high-risk projects can obtain broad placement through paid distribution, the appearance of coverage becomes a weaker signal of legitimacy.
The findings add to concerns about how information moves across crypto media channels. With most distributed releases linked to elevated-risk projects and only a small fraction tied to major events, press release networks may be amplifying noise and promotional messaging more than verified, decision-useful information.