
From “one of the crypto industry’s unlikely but most prominent critics” (Washington Post), an entertaining and well-researched account of the rise and fall of cryptocurrency. Weaving together stories of average traders and victims, colorful crypto “visionaries,” Hollywood’s biggest true believers, anti-crypto whistleblowers, and government operatives, Easy Money is an on-the-ground look at a perfect storm of irresponsibility and criminal fraud. Based on original reporting across the country and abroad, including interviews with Sam Bankman-Fried, Tether cofounder Brock Pierce, Celsius’s Alex Mashinsky, and more, this honest look at cryptocurrency is more relevant than ever. At the height of the pandemic, TV star Ben McKenzie 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 grandiose, utopian promises, and sure, a little bit 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?” With journalist Jacob Silverman, McKenzie brings the entertaining but terrifying truth to readers with Easy Money.
Very nicely put.
Book recommendations: Faux Number go up is beautifully reported, in particular on the many scam and trafficking victims, the culture (Bored Ape parties), some of the players (eg SBF, the Tether people, etc.), and the underlying anarcho-capitalist mindset.
On the impact on the underprivileged (that the "check your financial privilege" and "banking the unbanked" predatory inclusion crypto crowd purports to care so much for), the green-washing of Bitcoin, the crypto philanthropy "bad samaritans", Metaverse and Web3, check Peter Howson's Let Them Eat Crypto.
Ben McKenzie and Jacob Silverman's Easy Money is another non-technical examination of fraud in crypto, El Salvador, and the severe consequences for victims.
Ah. Crypto.
Relevant new book on crypto and influencers: "Easy Money", by Ben McKenzie and Jacob Silverman.
