Crypto’s Shocking Truth: ‘Like Subprime, But Dumber’ – Ben McKenzie’s New Documentary Exposes It All

Have you ever wondered if cryptocurrency is just a repeat of past financial disasters, but worse? Actor Ben McKenzie thinks so. In his new documentary, Everyone Is Lying to You for Money, he dives deep into the crypto world. He calls it And he’s showing it in Portland right now.

McKenzie, known for roles in The O.C. and Gotham, became a crypto skeptic by chance. He wrote a book on it and now made this self-funded film. As the star, he travels the world to uncover the truth. His big takeaway? Crypto is mostly a scam built on hype and lies.

What Sparked Ben McKenzie’s Crypto Journey?

McKenzie did not plan to fight crypto scams. It started when he saw friends lose money in the 2022 crash. Big names like FTX and Celsius collapsed. He dug in and found a pattern of false promises.

The film mixes humor, facts, and tough questions. McKenzie interviews believers, victims, and even future convicts like Sam Bankman-Fried (SBF). He visits Bitcoin Beach in El Salvador and empty “Bitcoin City.” Everywhere, he finds the same story: big dreams, no real value.

Crypto Mirrors the Subprime Crisis – But Dumber

Remember the 2008 financial crash? Banks sold risky home loans (subprime mortgages). People lost homes, but bankers got bonuses. No one went to jail. Bitcoin’s white paper came out right then, in October 2008. It promised to fix the broken system.

Fast forward to today. Cryptocurrency does the same tricks:

• Leverage everywhere: Traders borrow real money to bet on fake digital coins.
• Mixing with banks: Crypto enters traditional finance, risking another meltdown.
• No real assets: Subprime had houses. Crypto? Just code and hype. That’s why it’s

McKenzie warns: If crypto crashes again, it could hit banks hard. In 2023, three US banks failed – all linked to crypto – right after FTX blew up.

Funny Fails: Bitcoin in El Salvador

El Salvador made Bitcoin legal money first. Sounds cool, right? McKenzie went there to test it. Spoiler: No one wanted Bitcoin. Shops took US dollars only.

Then he found Bitcoin City – a dream project funded by volcano Bitcoin mining. It’s empty. One guy, Corbin Keegan, lives in a cinderblock shack on the beach. He quit a good US job for this.

McKenzie asked: “Sell some Bitcoin. Buy a real house!” Corbin said no. Selling means giving up the dream. McKenzie calls hardcore crypto fans a cult. They believe “Bitcoin fixes this” – a meme, not math. Evidence shows otherwise, but faith stays strong.

Why Do People Still Believe After Losses?

Celsius went bust. Users lost savings. Yet many still buy crypto. Why?

McKenzie points to a study called When Prophecy Fails. It looks at cults. When doomsday predictions fail, believers double down. Admitting wrong hurts too much. It’s cognitive dissonance.

Only 5-6% of people are die-hard crypto fans. McKenzie made the film for the other 84% who skipped it, and the 10% who dabbled. He wants them to feel good about avoiding FOMO (fear of missing out). Crypto pushes you to invest in what you don’t get.

Fact: Most crypto investors lose money. Hype says otherwise.

Interviews with Crypto’s Fallen Stars

McKenzie nailed timely chats. Sam Bankman-Fried, FTX boss, looked nervous. He got convicted of fraud in 2023. Others he spoke to ended up in jail too.

Still, celebs push crypto ads. Even top leaders launch coins like World Liberty Financial. Why does it last?

US crypto ownership dropped. Fed data: From 16% in 2021 (Super Bowl ad era) to 8% now. But politics revived it. One leader flipped from calling Bitcoin a scam to embracing it in 2024. Changes followed:

• DOJ crypto crime team dismantled.
• SEC weakened.
• “Genius Act” lets firms make stablecoins – corporate money.

This pulls crypto deeper into banks. Risky mix.

Is Crypto Just Hype and Dreams?

McKenzie sees crypto as a mirror of investor hopes. Each coin promises riches. But data says no. It’s gambling, not investing.

Lessons for you:

1. Check facts: White papers sound smart. Read the risks.

1. Avoid cults: Memes aren’t strategies.
2. Watch regulation: Loose rules mean more scams.

The film educates without preaching. Humor makes hard truths easy.

Catch the Documentary in Portland

See Everyone Is Lying to You for Money at Living Room Theaters in Portland, May 8-12. Get tickets at everyoneislying.com.

Whether you’re new to crypto news or a skeptic, this film changes views. Crypto isn’t going away. But understanding its flaws helps you stay safe.

What do you think? Is crypto the future or a bubble? Share below!

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