‘Crypto Critic’ – Hollywood insider has post for celebrities interested in token projects

Ben McKenzie, the actor known for his roles in television series including Gotham and CO, speaks out against public figures who approve projects in the crypto space without seemingly disparaging the technology itself.

Working with Jacob Silverman, editor of The New Republic, McKenzie made waves in early October after parked a play by Slate with his partner titled “Celebrity Crypto Shilling Is a Moral Disaster”. The duo drew attention to Kim Kardashian’s Instagram account promoting the EthereumMax (EMAX) token in early June, a project whose price rose 116,000% in just one week before losing more than 99% of its value. , leaving a lot in the red.

“Celebrities lend their names and promotional skills to everything from NFTs and crypto exchanges to their own custom coin offerings,” said Silverman and McKenzie. “Together, they communicate something clear but terribly misleading: that cryptocurrencies and the many shady domains of this gray market economy offer a path to lasting wealth. The truth is almost always the opposite.

They added:

“These rich and famous artists might as well offer payday loans or sit their audience at a rigged blackjack table. While the wild swings in crypto can be exciting for some, the rewards for many are delusional. “

While much of Silverman and McKenzie’s criticism is directed at actors and influencers who aren’t necessarily familiar with the types of projects they seemingly encourage their followers to invest in, they’ve also called on lawmakers. When New York City Mayor-elect Eric Adams announced he would be accepting his first three Bitcoin (BTC) paychecks, the duo referred to it as “an embarrassing and stupid gesture” other than just trying to get publicity – it may raise the bar higher for other political candidates.

“Taking allegiance to the cult of Bitcoin, promising to become a low-tax crypto playground, laying out the red carpet for venture capitalists investing in this industry – these are quickly becoming table stakes for forward-thinking mayors, ”said Silverman and McKenzie. “[It’s not] a good idea for a government official to promote gambling with full salary in what is essentially an unlicensed and unregulated casino.

Related: Celebrities are massively adopting TVN

CNN published an interview with McKenzie on November 23, referring to the actor as someone who “stands virtually alone as a celebrity ready to publicly reverse the crypto trend.” Unlike some numbers like gold bug Peter Schiff who routinely calls BTC investments lower than traditional assets, McKenzie seemed to be more concerned with the trends around pump and dump projects and their famous backers who are “unconsciously involved in something that is harmful to others.” According to the actor, crypto and blockchain technology can still play an important role in the future of finance, but “the rich and famous pushing these products” have not. won investor confidence to make seemingly misleading statements.

Related: Celebrities and Crypto in 2020: Blockchain Cities, Bitcoin Newbies, and Twitter Trolling

McKenzie hasn’t run out of numbers to target, as many professional sports players, including Tom Brady and Aaron Rodgers, have tied their names to crypto exchanges through sponsorship deals. In Hollywood, Matt Damon recently became one of the biggest celebrities to promote a crypto business after appearing in a TV commercial for Crypto.com.

In their October 7 Slate post, the ‘Crypto Critic’ pair added:

Whether it’s Lindsay Lohan peddling five-digit NFTs, laser-eyed Tom Brady endorsing the FTX exchange, or Akon promising to build a $ 6 billion crypto-inspired town in Senegal, there is a lot of capital that This industry swirls around, and a lot of reason to be concerned. Celebrities are encouraging their fans to bet on speculative, unproven investments that could soon see major regulatory crackdown or even outright implosion of the market. “

About Eileen W. Sudduth

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