Ben McKenzie’s New Documentary Exposes Crypto Fraud: ‘Everybody Is Lying to You for Money’ Premieres at SXSW London

Can a Hollywood actor uncover the dark side of cryptocurrency? Ben McKenzie, known for his roles in “Gotham” and “The O.C.,” believes so. He’s directing a new documentary titled “Everybody Is Lying to You for Money,” which aims to expose the deceptive practices and financial losses within the cryptocurrency industry. Set to premiere at SXSW London in June, the film offers a critical look at the world of crypto.

• Ben McKenzie critiques the crypto industry in new documentary.
• Premiering at SXSW London in June.
• Features interviews with Sam Bankman-Fried and Alex Mashinsky.
• Explores El Salvador’s Bitcoin adoption.

Over three years, McKenzie and his collaborator Giorgio Angelini captured footage in New York, London, El Salvador, Miami, and Austin, delving deep into the heart of the crypto world. They interviewed key figures like Sam Bankman-Fried, the former CEO of FTX, and Alex Mashinsky, the ex-CEO of Celsius Network. Both men faced legal consequences for their actions, with Bankman-Fried receiving a 25-year prison sentence for fraud and Mashinsky pleading guilty to similar charges. These high-profile cases underscore the documentary’s focus on the industry’s darker aspects.

The documentary also examines El Salvador’s bold move under President Nayib Bukele to adopt Bitcoin as legal tender. When a country declares a cryptocurrency like Bitcoin as legal tender, it means that businesses must accept it as payment for goods and services, just like traditional currency. This decision, seen as visionary by some for pushing the boundaries of financial innovation, is considered risky by others due to Bitcoin’s volatility and lack of widespread adoption. McKenzie’s film provides a real-world case study on the potential and pitfalls of national-level cryptocurrency adoption.

McKenzie has been vocal about the dangers of crypto fraud since 2021, often facing significant backlash from online communities, which he humorously refers to as “the bros online.” His mission with the documentary is to answer a pressing question: “Why is the false story of crypto still spreading?” His journey into the crypto world, fueled by his economics background and personal experiences during the COVID-19 lockdown, has led him to this project, aiming to shed light on the industry’s deceptive practices.

With a touch of humor, McKenzie describes his documentary as “a comedy that treats crypto and the creeps shilling it with the respect they deserve: zero.” His previous work, including co-authoring the book “Easy Money: Cryptocurrency, Casino Capitalism, and the Golden Age of Fraud” with journalist Ben Silverman, further solidifies his critique of the industry. This documentary extends beyond Bitcoin to the broader crypto ecosystem, acknowledging the potential of blockchain technology while emphasizing the need to address fraud and manipulation.

As the crypto industry faces increasing scrutiny and regulatory action, McKenzie’s documentary serves as a timely reminder of the need for transparency and accountability. The high-profile legal battles of Sam Bankman-Fried and Alex Mashinsky, coupled with the global impact of El Salvador’s Bitcoin experiment, provide a rich narrative for McKenzie to explore. The film’s global filming locations highlight the varying regulatory environments and the universal challenges faced by the industry.

While some may argue that McKenzie’s perspective leans toward Bitcoin maximalism—the belief that Bitcoin is the only cryptocurrency worth investing in—his critique is broader, focusing on the need for the entire crypto ecosystem to address its issues. The documentary challenges viewers to question the narratives they encounter and consider the real-world implications of this financial revolution.

Key Questions and Takeaways

What is the main focus of Ben McKenzie’s new documentary?

The main focus is to critique and expose the deceptive practices within the cryptocurrency industry.

Who are some of the key figures featured in the documentary?

Key figures include Sam Bankman-Fried, Alex Mashinsky, and President Nayib Bukele of El Salvador.

What legal actions have been taken against the individuals featured in the documentary?

Sam Bankman-Fried was sentenced to 25 years in prison for fraud, and Alex Mashinsky pleaded guilty to fraud and market manipulation.

What is the significance of El Salvador in the context of the documentary?

El Salvador’s adoption of Bitcoin as legal tender under President Bukele is examined as part of the documentary’s exploration of global cryptocurrency adoption.

How has Ben McKenzie previously engaged with the cryptocurrency industry?

McKenzie has warned about crypto fraud, testified before the U.S. Senate Banking Committee on the collapse of FTX, and co-authored a book on the subject.

“When I started warning people about crypto fraud in the fall of 2021, I caught a bunch of flak from the bros online.” – Ben McKenzie

“Why is the false story of crypto still spreading? That’s the question I set out to answer with this film.” – Ben McKenzie

“I cannot wait for audiences to see ‘Everyone Is Lying to You for Money,’ a comedy that treats crypto and the creeps shilling it with the respect they deserve: zero.” – Ben McKenzie