Ben McKenzie (left), played Ryan Atwood on the hit TV series "The O.C." J. Merritt/Getty Images
Star from "The O.C." A star from "The O.C." has published an article criticizing celebrities who promote crypto coins to their fans.
Ben McKenzie, the actor who played Ryan on the show, stated that the "Hollywoodization" of crypto was a moral disaster.
He stated that crypto is extremely dangerous and that many celebrities are "promoting the financial equivalent to Russian roulette."
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The O.C. was a hit TV series that aired in the early 2000s. Ryan Atwood, a young man from the wrong track with strong moral values, was featured on the hit TV show "The O.C."
Ben McKenzie, who was Ryan's actor, now has a principled position on cryptocurrency. He criticizes his fellow celebrities for selling risky tokens to unassured amateur investors.
McKenzie wrote that "The Hollywoodization" of crypto was a moral disaster in a piece published in Slate on Thursday. In the article, McKenzie criticized celebrities like Kim Kardashian for "promoting Russian roulette's financial equivalent."
In June, Kardashian shared an Instagram story encouraging her 250 million followers (and others) to invest in ethereum max, a lesser-known cryptocurrency. The price has plunged since then. Kardashian was given a ticking-off by the UK financial regulator for her post, which stated that she was putting retail investors’ money at risk.
McKenzie stated that celebrities, especially Kardashian, who is "400x more famous than me", should be more responsible when promoting crypto tokens.
He wrote that Lindsay Lohan selling five-figure NFTs, Tom Brady's laser-eyed endorsement of FTX or Akon's promise to build a crypto-inspired, $6 billion city in Senegal is all part of the capital swirling around this sector.
Continue reading: The scam of the crypto pump-and-dump con artists victims into spending hundreds of thousands of dollars. Four experts share the 3 smartest ways to spot scams and invest safely.
Celebrities are encouraging their fans gamble on speculative and unproven investments. This could lead to a regulatory crackdown or even an implosion of markets.
McKenzie was famous for his role as Ryan Atwood on "The O.C." McKenzie, who rose to fame as Ryan Atwood in "The O.C." in 2003, studied economics at the University of Virginia. He is also deeply interested in markets according to his Twitter. McKenzie was also the detective James Gordon in Fox’s Batman spinoff, "Gotham."
Jacob Silverman, a journalist who co-authored his Slate article with McKenzie, wrote the article.
According to the actor, cryptocurrency has many problems and is full of scams like "rug pulls", which are when tokens' creators take all funds.
"The Hollywoodization and abuse of crypto is a moral disaster." McKenzie also wrote that celebrities' fans have less to lose and it could be a financial disaster. "These famous and wealthy entertainers could as easily be pushing payday loans or seating at a rigged blackjack tables.