Ben McKenzie Slams Cryptocurrency Industry as 'Biggest Ponzi Scheme in History'

American actor Ben McKenzie has released a documentary criticizing the cryptocurrency industry, titled Everyone Is Lying To You For Money. The film is based on a book McKenzie wrote with journalist Jacob Silverman and tells the story of events in the crypto market in 2022 and the collapse of FTX exchange.

McKenzie, who holds a degree in economics, became interested in cryptocurrencies during the COVID-19 pandemic, when low interest rates and fears of currency depreciation led to a surge in retail investors turning to Bitcoin.

In the documentary, McKenzie expresses his initial understanding of the appeal of cryptocurrencies for those skeptical of corporate influence on everyday life. However, he concludes that deregulating currencies is not the answer to problems following the global financial crisis.

McKenzie describes the cryptocurrency industry as 'the biggest Ponzi scheme in history' and states that moving trust from the public sphere to the private sphere is a 'very bad idea.'

The documentary includes an interview with FTX founder Sam Bankman-Fried, who was imprisoned for fraud. The interview was recorded five or six months before the exchange's collapse.