An increasingly large portion of information influencing the crypto asset market now comes not from journalists, but from paid press releases.

An analysis of 2,893 crypto asset press releases published between June and November 2025 shows that the distribution network operates as a parallel news market, capable of shaping sentiment and also temporarily moving prices, even before verification.

More than 60% of Releases Come from High-Risk Projects

The study found that 62% of press releases came from high-risk projects (35.6%) or projects that are clearly fraudulent (26.9%). Meanwhile, 27% fell into the low-risk category, and 10% were medium risk.

Unlike editorial coverage where journalists assess credibility, press release networks publish client content with minimal review. This situation allows misleading or exaggerated claims to quickly reach audiences, thereby affecting asset prices.

Only 2% of press releases (58 total) discuss substantive events such as funding, mergers, or research. Almost 50% are product or feature updates, and 24% relate to trading and exchange listings, which often flood the market with repetitive content that is overlooked by credible newsrooms.

Tone analysis shows that only 10% of releases are neutral, while 54% come across as exaggerated and 19% are highly promotional.

Overall, about 70% contain genuine marketing spins, using words like 'revolutionary,' 'game-changing,' or 'leading the future of Web3.'

Category% Of TotalProduct / Feature Updates48.98%Trading, Listing, Exchange23.99%Token Launches / Tokenomics14.00%Events, Conferences, Sponsorships6.01%Metrics, Research, Reports3.01%Funding / VC / Corporate Finance2.00%Vanity, Awards, Community2.00%

Market Impact and Manipulation Risks

Syndication practices further amplify this impact. Many platforms guarantee placement on dozens of sites, including crypto media and also mainstream media sidebars. This way, projects can showcase signals 'as seen on.'

Small or overlooked disclaimers can lead casual investors to consider promotional content as independent reporting.

Sensational content can trigger retail investor activity even from algorithmic trading bots, creating short-term price movements based solely on perception, not fundamentals.

This mimics traditional pump and dump tactics in penny stocks, where press releases historically create artificial demand before insiders sell their assets.

Therefore, this study delivers an important message for investors: exposure is not the same as validation. Press releases—especially from high-risk projects or those close to fraud—should first be viewed as promotional material and second, as signals that could move the market, with a skeptical attitude at every step.