True Crime
![Ben Mckenzie - [object Object] author](https://res.cloudinary.com/readsomnia/image/upload/authors/a_B0C9YKHR5Q.jpg)
Easy Money: Cryptocurrency, Casino Capitalism, and the Golden Age of Fraud
From a famous actor and an experienced journalist, a wildly entertaining debunking of cryptocurrency, one of the greatest frauds in history and on course for a spectacular crash
At the height of the pandemic, TV star Ben McKenzie (The O.C., Gotham) was the perfect mark for cryptocurrency: a dad stuck at home with some cash in his pocket, worried about his family, armed with only the vague notion that people were making heaps of money on something he-despite a degree in economics-didn't entirely understand. Lured in by the promise of taking power from banks, possibly improving democracy, and sure, a touch of FOMO, McKenzie dove deep into blockchain, Bitcoin, and the various other coins and exchanges on which they are traded.
But after scratching the surface, he had to ask, "Am I crazy, or is this all a total scam?" In Easy Money, McKenzie enlists the help of journalist Jacob Silverman for a caper and exposé that points in shock to the climactic final days of cryptocurrency now upon us. Weaving together stories of average traders and victims, colorful crypto "visionaries," Hollywood's biggest true believers, anti-crypto whistleblowers, and government agents searching for solutions at the precipice of a major crash, Easy Money is an on-the-ground look at a perfect storm of 2008 Housing Bubble–level irresponsibility and criminal fraud potentially ten times more devastating than Bernie Madoff.
At the height of the pandemic, TV star Ben McKenzie (The O.C., Gotham) was the perfect mark for cryptocurrency: a dad stuck at home with some cash in his pocket, worried about his family, armed with only the vague notion that people were making heaps of money on something he-despite a degree in economics-didn't entirely understand. Lured in by the promise of taking power from banks, possibly improving democracy, and sure, a touch of FOMO, McKenzie dove deep into blockchain, Bitcoin, and the various other coins and exchanges on which they are traded.
But after scratching the surface, he had to ask, "Am I crazy, or is this all a total scam?" In Easy Money, McKenzie enlists the help of journalist Jacob Silverman for a caper and exposé that points in shock to the climactic final days of cryptocurrency now upon us. Weaving together stories of average traders and victims, colorful crypto "visionaries," Hollywood's biggest true believers, anti-crypto whistleblowers, and government agents searching for solutions at the precipice of a major crash, Easy Money is an on-the-ground look at a perfect storm of 2008 Housing Bubble–level irresponsibility and criminal fraud potentially ten times more devastating than Bernie Madoff.
Editorial Reviews
"If you're looking for a smart, savvy road map through the mayhem of the cryptocurrency madness, Easy Money is the guidebook for you. Ben McKenzie has given us a wry and knowing saga of his personal quest to expose the crypto charlatans, and his sleuthing uncovers a world of frauds, true believers, and opportunists that you won't soon forget."―Ron Chernow, Pulitzer Prize–winning and New York Times bestselling author of Alexander Hamilton and
"Ben McKenzie takes us on an amazing journey, guiding us through the astounding story of how a bizarre cast of swindlers and scammers persuaded millions of people to take leave of their senses and part with trillions of dollars, only to put them into the surreal and illusory world of so called ‘crypto assets' and watch them vanish into thin air. When it is all over, the last couple of years will prove to have been one of the strangest episodes in the history of money."―Liaquat Ahamed, Pulitzer Prize–winning author of Lords of Finance
"Ben McKenzie's Easy Money is a perfectly timed page-turner that gets to the heart of the fundamental scam that was (and is) the mania around cryptocurrency. It's a devastatingly well-told story of greed, con men, and endless gullibility. McKenzie goes down the rabbit hole, only to become a full-throated skeptic who then takes us along on his journey of enlightenment and discovery, proving once again that if something seems too good to be true, it probably is."―William D. Cohan New York Times bestselling author of Power Failure and House of Cards
"Superb . . . the terrible story of our economic times."―Julian Zelizer, coeditor of Myth America and professor of history and public affairs at Princeton Un
"Easy Money is a deceptively ambitious project-at once a riveting account of the financial crime of the century, and a thoughtful meditation on the nature of democracy and what we owe each other." ―Zachary Carter, author of The Price of Peace: Money, Democracy, and the Life of John Maynard Keynes
"Ben McKenzie takes us on an amazing journey, guiding us through the astounding story of how a bizarre cast of swindlers and scammers persuaded millions of people to take leave of their senses and part with trillions of dollars, only to put them into the surreal and illusory world of so called ‘crypto assets' and watch them vanish into thin air. When it is all over, the last couple of years will prove to have been one of the strangest episodes in the history of money."―Liaquat Ahamed, Pulitzer Prize–winning author of Lords of Finance
"Ben McKenzie's Easy Money is a perfectly timed page-turner that gets to the heart of the fundamental scam that was (and is) the mania around cryptocurrency. It's a devastatingly well-told story of greed, con men, and endless gullibility. McKenzie goes down the rabbit hole, only to become a full-throated skeptic who then takes us along on his journey of enlightenment and discovery, proving once again that if something seems too good to be true, it probably is."―William D. Cohan New York Times bestselling author of Power Failure and House of Cards
"Superb . . . the terrible story of our economic times."―Julian Zelizer, coeditor of Myth America and professor of history and public affairs at Princeton Un
"Easy Money is a deceptively ambitious project-at once a riveting account of the financial crime of the century, and a thoughtful meditation on the nature of democracy and what we owe each other." ―Zachary Carter, author of The Price of Peace: Money, Democracy, and the Life of John Maynard Keynes
Readers Top Reviews
Austin Minimalist
The premise of this book is that all crypto projects are unregistered securities. However, the SEC has already said - without any ambiguity - that the world's largest cryptocurrency (Bitcoin) is not a security. It's a commodity, which is governed by a vastly different set of rules. They have also hinted at the same for the second largest crypto (Ethereum). Just a week before the release of this book, a federal judge dismissed the SEC's lawsuit against Ripple (XRP) which, for the past three years, litigated the idea that XRP was an unregistered security. After hearing all the evidence that was found in discovery, the judge found in favor of XRP. So the foundation of the author's thesis has crumbled before the book was even released. It should also be noted that in previous articles this author has admitted that he tried to make money investing in crypto. When he bought, the market went down, he lost money. Deciding it was a scam that would keep going down, he tried shorting crypto, it went up, he lost money again. The same thing happens when people try to time the stock market. A better approach is to learn about projects before you invest, and play the long game. Crypto is not a way to get rich quick. Certainly not a safe way. The author is correct that a very small percent of people get filthy rich off the backs of others. But that is because people are afraid to miss out so they dive in without knowing what they are investing in. There are thousands of crypto projects out there and the vast majority of them are junk. They have zero utility, and will be gone in a couple years. Anyone can start a crypto project by cutting and pasting the code from an existing project. That is why it is so easy for scammers to start one, promote it to get people to buy in, and then take off with the money. This entire journey is the same as the dot.com stuff 25 years ago. People wanted to invest in anything that ended in dot.com, and when the bubble popped, they lost a lot of money. But from that turbulent time we also got companies like Amazon. I think we can all agree that Amazon would have been a great long-term investment in the late 90's and early 2000's. Crypto/blockchain is a new technology now, just like the internet was a new technology then. Does there need to be regulation? ABSOLUTELY. There needs to be oversight to catch (or at least deter) scammers like Sam Bankman-Fried, just like there needs to be oversight of scammers like Bernie Madoff. But to dismissed the entire industry as "Casino Capitalism, and the Golden Age of Fraud" is simply wrong. The author just seems disgruntled by his own poor decisions, and my guess is that this book is an attempt to recoup his loses....... off the backs of others.
Jeffrey A.Austin
Anyone thinking about buying anything crypto/web3 etc should read this first.
jwrocksJeffrey A.
Ben explores the unbelievable scheme in a way that people can really follow. I really recommend this book and look forward to more books from him if he continues to write.
JBjwrocksJeffrey
This is a great expose of the dark secrets of the crypto world. You should read this book before investing in crypto, or if you have existing holdings. If you proceed after that, good luck, but you were warned. Thanks Ben for an entertaining and fascinating view of the crypto world.
wutaojosiah futte
In his book, the author embarks on an interesting exploration of the ever-evolving world of 'crypto,' immersing readers in its multifaceted and often murky landscape. However, it's essential to acknowledge that his observations do not extend to BSV, a digital asset that remains true to the original Bitcoin vision and stands apart from conventional “cryptocurrencies”. In any case, prepare to be enthralled as the book uncovers gripping topics such as the alleged Tether shenanigans and exposes the questionable practices of influential individuals like Sam Bankman Fried. Brace yourself for shocking revelations about exchanges like Bitfinex, which have been accused of exploiting unsuspecting customers in their relentless pursuit of quick profits. Amid this thrilling journey, the author's meticulous research unveils a staggering revelation: a mere 10 to 15 percent of global crypto assets are genuinely backed by real fiat currencies. This eye-opening statistic casts a revealing light on the potential risks and lack of transparency that pervade the industry. However, while the book offers valuable insights into various cryptocurrency projects, it falls short in adequately distinguishing between different approaches to digital currency design. The notable missing point is an exploration of BSV's unique characteristics and mention of Dr. Craig S Wright—the visionary founder of Bitcoin and his book 'Satoshi's Vision: The Art of Bitcoin,'. If you want to achieve a deeper understanding of the profound impact and intricate nuances surrounding this groundbreaking technology, make sure you follow Dr. Craig S Wright and read his book. So strap in and get ready for an enthralling adventure through the captivating realm of crypto. BSV and Dr. Craig S Wright await your discoveries...
