The allure of “easy money” has always been a siren song, particularly amplified in the volatile world of cryptocurrency. Like many, I viewed the crypto boom with a healthy dose of skepticism. During a virtual seminar in 2021 featuring (predictably) all-male crypto evangelists, my doubts solidified into full-blown disbelief. Their promises of revolutionary wealth felt more like a high-tech mirage than a sound financial future. It wasn’t long before the crypto bubble began to burst, validating the concerns of many onlookers.
This unsettling narrative of inflated promises and subsequent collapse is meticulously dissected in Easy Money: Cryptocurrency, Casino Capitalism, and The Golden Age of Fraud by Ben McKenzie and Jacob Silverman. This isn’t just another dry financial analysis; it’s a compelling deep dive into the crypto phenomenon, penned by an unlikely yet insightful duo.
Ben McKenzie, known for his role in The O.C., brings a unique perspective, having personally experienced financial loss through the Theranos scandal. His bewilderment at celebrity endorsements of crypto and NFTs led him to team up with Jacob Silverman, an investigative journalist already scrutinizing the shaky foundations of cryptocurrency. Their collaboration, which included articles in Slate and culminated in this book published by Abrams Press, offers a real-time chronicle of the crypto downfall. What makes this book particularly gripping is its ability to engage readers, even those who, like myself, followed the crypto saga as it unfolded. Reading Easy Money felt less like homework and more like an unexpected summer thriller – a narrative that captivates despite dealing with complex financial instruments. The book’s continued relevance is striking; even as I absorbed its pages, news broke about Sam Bankman-Fried, a figure interviewed within its chapters, facing jail time after his bail revocation. The crypto landscape remains dynamic, but Easy Money provides a crucial framework for understanding its inherent risks and the pervasive temptation of “easy money” schemes.
For those who’ve only peripherally encountered the crypto world and are unsure if Easy Money will resonate, consider dipping your toes in with supplementary audio resources. The podcast Behind the Bastards dedicates a two-part episode to Sam Bankman-Fried, offering a darkly comedic yet informative take on his crypto empire’s collapse. Separately, Jacob Silverman himself hosts a four-part CBC podcast, The Naked Emperor, focused solely on Bankman-Fried’s saga. While these podcasts serve as excellent primers, Easy Money stands alone as a comprehensive and captivating exploration of the crypto phenomenon. Much like the Theranos scandal, the crypto narrative, as illuminated by McKenzie and Silverman, becomes increasingly fascinating as those who peddled the illusion of “easy money” face accountability.
Nail polish enthusiasts might also appreciate noting: My Chihuahua Doesn’t Bite Anymore by OPI.
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