How not to act when you lose on shorts

If you don’t want to embarrass yourself, the first you’ll want not to do, is write a book about it.

It seems that Hollywood actor Ben McKenzie, has put his acting skills to use in the cryptocurrency world. He’s managed to fabricate a persona of an “anti-crypto crusader,” using his TV charm to sell his narrative. But before you jump on this particular bandwagon, it’s worth noting that there’s more to this story than meets the eye.

McKenzie, having taken a hit in the crypto market, is now trying to convince everyone else that crypto is a scam and everyone will lost their money.

“Look, I lost my money and so will you” — (maybe not sober) Ben McKenzie

McKenzie, armed with an economics degree older than some of the crypto millionaires, decided to embark on a quest against the digital currency world because he essentially open a short position that got liquidated when the market started to pump.

In true WallStreetBets fashion, McKenzie ignored the margin call and instead took a big ol’ whiff of the glue he had inevitably been sniffing all this time, and decided to take to the media and explain to everyone that, because he lost his money on a short position, everyone else will lose their money in crypto.

Believe or not, he even wrote a book about it: “Easy Money: Cryptocurrency, Casino Capitalism, and the Golden Age of Fraud”. Sounds ominous, doesn’t it? Let’s delve a little deeper.

In his book, McKenzie seems to oscillate between self-deprecation and a sense of vindication, using his ‘mid-level celebrity’ status to smooth talk his way into interviews with crypto exchange founders and CEOs. He even humorously tries to enlist the help of a CIA operative. All this to expose the evils of cryptocurrency and the people who made it big, particularly when it collapsed. The tragic story of the average Joe losing their savings is a theme that McKenzie leans heavily upon. But here’s the twist: his concern only manifested after he himself got burnt in the market.

Ben lost most of his speculative bet against crypto, seems to have turned his pain into a crusade against the very thing that defeated him. One can’t help but sense a classic case of sour grapes, repackaged as a heroic quest to protect the innocents from the big, bad crypto world.

Imagine you’re at a Formula One race and you bet that Hamilton will lose, and he ends up winning instead. What do you then once you lost your money? Well if you took a page from McKenzie’s book of dealing with financial loss, you call Hamilton a fraud and try to tell everyone they will lose their money if they back Hamilton.

McKenzie’s scorned rantings are less a profound revelation and more a rehashed collection of crypto criticisms. What he conveniently forgets to mention, is that the world of finance, much like acting, is not without its risks and it’s not for the faint-hearted. If you can’t stand the heat, perhaps it’s best to stick to the safety of Hollywood where make-believe is king.

I don’t normally report on this kind of content but I find it hilarious that the guy’s $250,000 short got liquidated and he decided to start an entire crusade against crypto because of it.

Wallstreet bests is eagerly awaiting your Loss Porn, Ben.