{"id":25706,"date":"2023-07-18T21:24:21","date_gmt":"2023-07-18T21:24:21","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/07\/18\/actor-ben-mckenzie-says-crypto-is-like-a-ponzi-scheme\/"},"modified":"2023-07-18T21:24:21","modified_gmt":"2023-07-18T21:24:21","slug":"actor-ben-mckenzie-says-crypto-is-like-a-ponzi-scheme","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/07\/18\/actor-ben-mckenzie-says-crypto-is-like-a-ponzi-scheme\/","title":{"rendered":"Actor Ben McKenzie says crypto is like a \u2018Ponzi scheme\u2019"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/07\/actionvance-n-2_KHgeAy0-unsplash-min-1-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/07\/actionvance-n-2_KHgeAy0-unsplash-min-1-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/07\/actionvance-n-2_KHgeAy0-unsplash-min-1-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/07\/actionvance-n-2_KHgeAy0-unsplash-min-1-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/><img decoding=\"async\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2023\/07\/actionvance-n-2_KHgeAy0-unsplash-min-1.jpg\" alt=\"actor ben mckenzie crypto is like ponzi scheme\" width=\"100%\" height=\"100%\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>McKenzie says cryptocurrencies resemble an MLM scheme.<\/li>\n<li>He requires the necessity to higher regulate and license this market.<\/li>\n<li>Bitcoin is at present up a whopping 80% versus the beginning of 2023.<\/li>\n<\/ul>\n<p>An 80% year-to-date rally in <a href=\"https:\/\/coinjournal.net\/news\/tag\/bitcoin\/\">Bitcoin<\/a> is not sufficient to substantiate the legitimacy of cryptocurrencies for actor Ben McKenzie.<\/p>\n<h2>McKenzie dubs crypto an MLM scheme<\/h2>\n<p>McKenzie doesn&#8217;t see cryptocurrencies as monetary property per se.<\/p>\n<p>He views them extra as a \u201cstory\u201d that may be pushed out of existence if individuals stopped believing in them. On CNBC\u2019s \u201c<a href=\"https:\/\/www.cnbc.com\/video\/2023\/07\/18\/cryptocurrency-closely-resembles-a-ponzi-scheme-or-multi-level-marketing-says-actor-ben-mckenzie.html\" target=\"_blank\" rel=\"noopener\">Squawk Box<\/a>\u201d, the actor who performed James Gordon in \u201cGotham\u201d mentioned:<\/p>\n<blockquote>\n<p>Crypto resembles a Ponzi scheme or multi-level advertising and marketing scheme. In MLMs, 99% of individuals lose and 1.0% profit. In crypto, it\u2019d be change homeowners, VC corporations, folks that challenge the cash.<\/p>\n<\/blockquote>\n<p>Still, the U.S. Securities &amp; Exchange Commission has lately acquired a number of purposes together with from <a href=\"https:\/\/www.coindesk.com\/tech\/2023\/07\/03\/blackrock-bitcoin-etf-application-refiled-naming-coinbase-as-surveillance-sharing-partner\/\" target=\"_blank\" rel=\"noopener\">BlackRock Inc<\/a> for a Spot Bitcoin ETF that sign institutional curiosity in BTC.<\/p>\n<h2>McKenzie says regulation will assist<\/h2>\n<p>Last month, the regulator sued each Binance and <a href=\"https:\/\/coinjournal.net\/exchanges\/coinbase\/\">Coinbase Global Inc<\/a> for violating U.S. securities legal guidelines.<\/p>\n<p>According to Ben McKenzie, better regulation and extra refined licensing might certainly assist flip crypto into a correct monetary market.<\/p>\n<blockquote>\n<p>You\u2019re speaking about an unregulated, unlicensed market run via shell corps in Caribbean. Crypto has benefitted from grey space between how we classify securities and commodities.<\/p>\n<\/blockquote>\n<p>The veteran actor is much more bearish on cryptocurrencies apart from Bitcoin because the latter is a minimum of restricted when it comes to provide. Also on Tuesday, Professor Carol Alexander of Sussex University mentioned <a href=\"https:\/\/www.cnbc.com\/2023\/07\/18\/bitcoin-btc-mid-year-update-market-experts-predict-prices-for-2023.html\" target=\"_blank\" rel=\"noopener\">BTC could hit $50,000<\/a> by the top of 2023.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this text<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/actor-ben-mckenzie-crypto-is-like-ponzi-scheme\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] McKenzie says cryptocurrencies resemble an MLM scheme. He requires the necessity to higher regulate and license this market. Bitcoin is at present up a whopping 80% versus the beginning of 2023. An 80% year-to-date rally in Bitcoin is not sufficient to substantiate the legitimacy of cryptocurrencies for actor Ben McKenzie. McKenzie dubs crypto an [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":25708,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[3],"tags":[7532,6875,24,7533,2534,1258],"class_list":["post-25706","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-actor","tag-ben","tag-crypto","tag-mckenzie","tag-ponzi","tag-scheme","entry","has-media","owp-thumbs-layout-horizontal","owp-btn-normal","owp-tabs-layout-horizontal","has-no-thumbnails","has-product-nav"],"_links":{"self":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/25706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/comments?post=25706"}],"version-history":[{"count":1,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/25706\/revisions"}],"predecessor-version":[{"id":25707,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/25706\/revisions\/25707"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media\/25708"}],"wp:attachment":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media?parent=25706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/categories?post=25706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/tags?post=25706"}],"curies":[{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