An excellent deep-dive into the murky world of crypto

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?”

In Easy Money, McKenzie enlists the help of journalist Jacob Silverman for an investigative adventure into crypto and its remarkable crash. 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 is the book on cryptocurrency you’ve been waiting for.

An excellent piece of long-form journalism, Easy Money is a must-read for anyone who has looked at the crypto world and thought, “That doesn’t seem legit” — a category in which I very much include myself. I came away from Easy Money better and more informed on the workings of crypto and all the ways in which it is used and abused by a growing number of grifters. This is a very good book, and as the authors write: it’s a “parable of money and lying, or rather a parable of fake money and lying for money.”. Continue reading →