“Easy Money: Cryptocurrency, Casino Capitalism, and the Golden Age of Fraud” is a harsh criticism of crypto’s swift rise and sharp tumble.
Ben McKenzie Schenkkan, actor and author, speaks during a Senate Banking, Housing, and Urban Affairs Committee hearing on FTX in Washington, DC, US, on Wednesday, Dec. 14, 2022. US prosecutors in Manhattan yesterday revealed eight criminal counts against the FTX founder and federal regulators said he committed a range of securities and derivatives law violations.
This knowledge nudged the unemployed actor to team up with journalist Jacob Silverman on a quest to dig deeper into why an unproven and unregulated financial transaction system was creating immense wealth. The discoveries – including interviews with many of crypto’s leading proponents and critics – became a series of magazine stories,
This Q&A, edited for length and clarity, gives you McKenzie’s insight into the cryptocurrency rollercoaster.Crypto says they’re currency and they aren’t. You can’t buy anything with crypto. You can trade crypto and hope to cash out of crypto and then use the money to buy things. But that’s an investment.It’s private money, but we’ve tried private money and it failed.
You’re talking about pseudonymity, obscuring who is trading. I understand the appeal of secrecy, but that comes with a massive cost. If the good guys can use it, then the bad guys can use it.Blockchain has been around since 1991. It’s just a distributed ledger, not revolutionary. You can’t name a single company that uses blockchain technology other than the ones in crypto.
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