Actor Ben McKenzie has once again spoken out against cryptocurrency. He appeared on Bill Maher’s show and shared strong views about the industry and Donald Trump’s meme coin. McKenzie believes crypto is the largest scam of its kind in history.
What McKenzie Said on Real Time
During the discussion McKenzie explained how insiders always come out on top. He told Maher that regular people lose money on average. The talk turned to the Trump meme coin which has dropped sharply in value.
McKenzie pointed out that only a small group of people made real money. He said it could be as few as twenty people who gained the most. Everyone else lost big when the coin fell. McKenzie called it an insider trading scam on a huge scale.
The Trump Meme Coin Example
McKenzie gave a clear example with the Trump coin. The coin dropped 96 percent from its peak. People who bought in early lost most of their money. Meanwhile the creators and top holders sold at high prices. Some lucky buyers even got invited to dinner with the president as a reward.
Maher agreed and said this was like normal insider trading but much worse. McKenzie nodded and added that crypto makes these problems bigger and faster.
McKenzie’s Long Standing Warning
This is not the first time McKenzie has warned about crypto. Back in 2022 he told the Senate Banking Committee that cryptocurrency is the biggest Ponzi scheme ever. He said it could end up ten times larger than the famous Madoff fraud.
McKenzie also wrote a book about the topic. The book looks at how crypto works like casino gambling and leads to widespread fraud. He started warning celebrities about risky crypto projects and NFTs more than a year ago. Soon after his warnings the whole market lost around 70 percent of its value.
Why Insiders Win in Crypto
McKenzie explained the simple reason behind most losses. Early buyers and project creators control large amounts of coins. They sell when prices rise and leave later buyers with nothing. This pattern repeats with many meme coins and new tokens.
Regular investors often buy because of hype and famous names. They do not see the full picture until prices crash. McKenzie wants more people to understand this risk before they put money in.
Key Takeaways from the Interview
- Only a tiny group profits from most crypto launches.
- Trump’s meme coin lost 96 percent showing how fast values can drop.
- McKenzie compared crypto to the biggest frauds in history.
- Insiders sell to followers and keep the gains.
McKenzie hopes his message reaches everyday people who might be tempted by quick riches. He keeps using his platform to share these warnings in simple terms.
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