Citation Needed membership drive

iI recently launched a membership drive to mark a major milestone for Citation Needed: 100 recap issues, and 196 posts overall. My goal is to add 50 new supporters by my 200th post — and the response so far has been remarkable.

The newsletter is free or pay-what-you-want because I believe everyone should be able to access critical information, regardless of their ability to pay. Reader support is what makes that possible: it’s how I’m able to do this work full-time while keeping it free for those who can’t afford to contribute.

Why this work matters now

Trump and his administration are systematically dismantling crypto oversight while building a personal crypto empire worth billions. Mainstream media aren’t covering this consistently or in depth. And I may be the only independent journalist focused on crypto who isn’t funded by the industry or profiting from boosterism.

As crypto sheds accountability and gains unprecedented influence over government, someone needs to be documenting it. Even when it feels like nothing is being done, this work matters: creating a record for future accountability and preventing the industry from rewriting history.

Citation Needed comes out roughly weekly, but the work is continuous. Each issue involves research, fact-checking, interviewing experts, writing, and editing. I also record an audio version of every post, which takes significant additional time but helps make the newsletter accessible to more people.

The newsletter is just the most visible part of my work. Paid subscriptions support the full scope of what I do:

• server and infrastructure costs
• PACER fees to track lawsuits
• programming work to build and maintain sites like Web3 is Going Just Great or scrape data for Follow the Crypto
• responding to tips and speaking to sources
• following breaking news constantly — including nights and weekends when major stories break

Press and media

In the past year alone, there are 119 entries on my press coverage list. That includes podcast, television, and radio appearances; interviews for print reporting; and analysis and supplemental expert research for journalists covering crypto and tech policy. It doesn’t include the many on-background conversations, fact-checking assistance, and analytical support I provide to help journalists navigate crypto’s complexity and frame their stories accurately — work that’s time-intensive but largely invisible.

Major media publications generally don’t devote the resources or cultivate the expertise that good crypto coverage requires. There’s extremely rarely a dedicated crypto reporter. Instead, it’s often someone covering an extremely broad beat like tech or finance with very little familiarity with the space, and without the experience to cut through crypto companies’ press smokescreens and distinguish truth from hype. While I think this needs to be fixed, I help where I can — unpaid and sometimes uncredited — to ensure that mainstream media coverage, which reaches a much broader audience than my publication, is as accurate, hard-hitting, and impactful as possible.

Policy

Policy decisions around crypto affect millions of people across areas like consumer protection, financial stability, and campaign finance. The crypto industry spent $133 million installing pro-crypto lawmakers in 2024. They spent $285 million on lobbying mentioning digital assets last year. There is not a similarly funded effort on the other side, but I do what I can to offset that imbalance. When lawmakers and their staff are trying to understand what’s actually happening in crypto, they need to hear voices from all sides of the issue — not just the ones with hundreds of millions of dollars in funding.

I meet with Congressional staffers and others in government to help them understand crypto issues. My work has been cited in official documents, which over the past year have included the House Oversight Democrats’ staff report on Trump’s crypto self-enrichment, a letter from the Ranking Member of the House Judiciary Committee about Trump’s corruption surrounding his memecoin dinner, and press releases from the Ranking Member of the House Financial Services Committee on crypto crashes and the 2025 government shutdown.

Related research and tracking projects

Beyond the newsletter, I maintain several research and tracking projects that document what’s happening in crypto.

Web3 is Going Just Great documented 114 crypto disasters in the past year alone.

Follow the Crypto tracks crypto industry political spending. Right now I’m updating it for the 2026 election cycle, where crypto super PACs have already raised more than double what they spent during their record-breaking 2024 spending spree. People need to know which lawmakers are being bankrolled by the crypto lobby and what that money is buying.

I create and maintain other resources as issues emerge, like graphics tracking the Trump family’s crypto grifts or lists of quid pro quo deals between crypto firms and the Trump administration.

These tools track industry influence and inform critical reporting. Web3 is Going Just Great and Follow the Crypto are widely cited by journalists and researchers covering crypto misconduct and the industry’s role in politics.

Supporting other independent media

As traditional journalism continues to degrade, independent and uncaptured reporters are increasingly important. I help other independent writers build sustainable practices that don’t rely on walled garden platforms. This includes providing expertise and advice to outlets migrating away from platforms like Substack to systems they fully control, and advocating for models that prioritize independence, ethical reporting, and self-sufficiency.

Building and maintaining an independent platform requires knowledge that isn’t taught in journalism schools or newsrooms. Last year I spoke at SXSW about how independent media can own their online presence, and my inbox has always been open to writers seeking advice. Independent journalists need to support each other and share our experience — we’re stronger when we work together.

Molly White understands the crypto world. It’s crazy complicated, but she’s a great guide. Heather Cox Richardson (Letters from an American)

Molly White does a great job covering the crypto industry in a skeptical way. Subscribe to her. Marc Elias (Democracy Docket)

If you value what I do and can afford to contribute, please consider signing up for a paid subscription. I don’t have a set price — you choose what works for your budget. Every subscription helps me continue this work full-time and keep the newsletter free for everyone.

For those who want to provide extra support, I also offer founding member subscriptions starting at $250/year or $25/month. These make a significant difference in allowing me to take on more ambitious projects.

My goal is 50 new subscribers by my 200th post. Less than 24 hours after launching this drive, I’m already almost halfway there, which is honestly amazing. If you value this work and want to see more of it, joining now makes a real difference.