Actor Ben McKenzie Condemns Cryptocurrency Market as 'Ponzi Scheme' in New Documentary
American actor Ben McKenzie has released a documentary film called Everyone Is Lying To You For Money, which critiques the cryptocurrency market. The film explores the events of 2022, including the collapse of FTX, and features an interview with Sam Bankman-Fried, who was later convicted of fraud.
McKenzie, who has an economics degree, became interested in cryptocurrencies during the COVID-19 pandemic due to low interest rates and fear of currency devaluation. He initially saw why people were attracted to digital assets but eventually concluded that abandoning money regulation does not solve problems, but rather shifts risks to a less transparent environment.
The film argues that the cryptocurrency industry resembles the biggest Ponzi scheme in history, where early participants profit while late investors take on the main risk of a crash. McKenzie opened a short position against cryptocurrencies, betting on their price decline, and earned money from it.