Actor Ben McKenzie calls crypto industry “largest Ponzi scheme in history”

Actor Ben McKenzie, who is best known for his role as Ryan Atwood on the television show “The O.C.” and is an outspoken critic of the cryptocurrency industry, testified to the U.S. Senate Banking Committee on Wednesday, comparing crypto to the fraud perpetrated by Bernie Madoff.

McKenzie said the cryptocurrency market was the “largest Ponzi scheme in history.”

McKenzie said crypto has highlighted the “myriad failures” of America’s regulatory and banking systems. He said people are encouraged to invest in cryptocurrency when they see other people invest and that cryptocurrency has “roped in tens of millions of Americans from all walks of life.”

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