Bitcoin and cryptocurrencies took a huge plunge in the last day, dropping to the pre-crypto levels of 2020. Forbes estimates that roughly a trillion dollars vanished into thin air, with bitcoin falling 12 percent overnight and dragging other cryptocurrencies down with it. In a matter of hours, rosy prophesies of the coming crypto revolution are starting to look very, very shaky.
This probably comes as no surprise to anyone who’s been paying attention to Ben McKenzie. The actor most famous for playing teen heartthrob Ryan Atwood on The OC and a young James Gordon on Gotham has made cryptocurrency his public enemy number one. He’s become a huge critic of crypto, urging anyone who will listen to steer clear of the perilous metaverse currency.
“I’m just a former teen idol standing here (alone?) asking people to consider downside risk and the possibility of fraud,” he tweeted earlier this year.
This has come as many celebrities from Larry David to Matt Damon to Brie Larson have been all too happy to encourage fans to get on board with cryptocurrency. Crypto became a hot celebrity item along with the infamous Bored Ape NFTs that have replaced many famous people’s avatars on social media. Many famous people that is, but not McKenzie.
He co-wrote an upcoming book with The New Republic’s Jacob Silverman called Easy Money, which argues that cryptocurrency is a scam driven by empty speculation instead of actual value. They say celebrities who promote crypto are — deliberately or otherwise — setting their fans up for ruin. “The Hollywoodization of crypto is a moral disaster,” they wrote for Slate. “And for celebrities’ fans, who likely have far less money to lose, it’s potentially a financial one, too.”
Given the past few days, it’s hard to argue.