What Next: TBD | Tech, power, and the future - Everyone Is Lying to You For Money

In this episode of What Next TBD, host Lizzie O'Leary interviews Ben McKenzie, actor and director of the documentary *Everyone Is Lying to You for Money*, about his journey from playing Ryan Atwood on *The O.C.* to becoming a vocal critic of the cryptocurrency industry. McKenzie reflects on how his fame as a teen heartthrob continues to follow him, even as he tries to establish credibility as a crypto skeptic and journalist. The documentary chronicles his deep dive into crypto during the pandemic, including visits to El Salvador’s failed Bitcoin City project and interviews with figures like Sam Bankman-Fried and Alex Mashinsky—both now in jail. McKenzie argues that crypto’s promise of a decentralized financial utopia is a myth, replaced by a system built on speculation, manipulation, and corporate capture. Despite the film’s critical acclaim and sold-out screenings, it faced major distribution challenges, likely due to political pressure under the Trump administration. The episode also explores how crypto has gained unprecedented political influence—spending $272 million in the 2026 election cycle—while regulators remain divided, with powerful bills like the Genius Act enabling corporate-issued stablecoins. McKenzie calls for strict regulation of speculative cryptos as securities and warns against allowing private money to infiltrate the public financial system, emphasizing that the real danger lies not in crypto’s size, but in its integration with traditional finance and its ability to evade oversight. Key takeaways include: 1) Crypto’s appeal is rooted in belief, not rational investment—making it cult-like in nature; 2) The collapse of crypto firms like Celsius and FTX exposed systemic risks, but the financial system absorbed the shock due to swift bailouts; 3) The real threat is not crypto’s market share, but its growing entanglement with regulated banking; 4) Corporate stablecoins are effectively counterfeit money and should be regulated as such; 5) The crypto industry’s political spending has captured Congress, with even progressive lawmakers voting for pro-crypto legislation; 6) Public awareness and critical media are essential to counteract the industry’s narrative; 7) Despite setbacks, crypto remains resilient due to its narrative power and ability to rebrand after failures; 8) The documentary’s struggle for distribution highlights the chilling effect of political interference on independent media.