Ben McKenzie, “O.C.” Celebrity, Pivots to Crypto Critic

ROCKDALE, Texas — Ben McKenzie used to be riding his father’s silver Subaru via Texas farmland, speaking in breathless bursts about cash: who has it, who wishes it, what makes it genuine or faux. He detailed the perils of cryptocurrency exchanges, the web agents that promote Bitcoin and Ether to speculators, then delivered a sparkling endorsement of “Capital within the Twenty-First Century,” a 700-page e-book through the economist Thomas Piketty about source of revenue inequality and the facility of rich capitalists.

“If they may be able to earn money on it, they’ll do it,” Mr. McKenzie, 43, mentioned as he sped previous livestock farms and run-down fuel stations one morning in March.

Mr. McKenzie used to be on his approach to Whinstone U.S., a crypto mining operation about an hour outdoor Austin, the place rows of energy-guzzling machines generate new Bitcoins. Over the past six months, as A-list celebrities have shilled for digital currencies and NFTs, Mr. McKenzie, a TV actor absolute best identified for his starring position in “The O.C.,” has turn out to be an outspoken skeptic. He’s written seriously concerning the #advert for little-known cash that Kim Kardashian posted on Instagram and earnestly asked Reese Witherspoon to prevent proselytizing concerning the metaverse, all whilst acknowledging that he’s no longer a monetary knowledgeable.

“I’m only a former teenager idol status right here (on my own?) asking other people to believe drawback possibility and the potential for fraud,” he tweeted in February.

Mr. McKenzie rose to prominence within the early 2000s enjoying Ryan Atwood, a brooding, musclebound teen from the fallacious aspect of the tracks who strikes in with a rich circle of relatives in Newport Seaside, Calif. After “The O.C.” wrapped, he went directly to big name in two different TV dramas, “Southland” and “Gotham,” either one of which ran for 5 seasons.

However performing paintings dried up all through the pandemic, and prefer many of us, Mr. McKenzie quickly discovered himself sucked down a crypto rabbit hollow. After a few pals inspired him to speculate, he took a 24-part on-line course on cryptocurrencies taught through Gary Gensler, the chairman of the Securities and Alternate Fee (or simply “Gary,” as Mr. McKenzie fondly calls him; they’ve by no means met).

The crypto marketplace appeared tailored for fraud, Mr. McKenzie mentioned. He used to be satisfied the skyrocketing valuations of fashionable cash have been fueled through reckless hypothesis, quite than any sensible software of the generation. “It doesn’t do what currencies do,” he mentioned. “It’s no longer a competent retailer of price, unit of account or medium of trade.”

In August, Mr. McKenzie despatched a Twitter DM to Jacob Silverman, a tech author for The New Republic who had not too long ago revealed an essay titled “Even Donald Trump Is aware of Bitcoin Is a Rip-off.” “I’d love to pick out your mind,” the actor wrote. “Be happy to omit this if it’s all too bizarre.”

Mr. Silverman, an “O.C.” viewer, used to be intrigued. He and Mr. McKenzie each live in Brooklyn, and so they met for beer and burgers at Henry Public. Mr. McKenzie proposed a e-book mission; Mr. Silverman agreed at the spot. “I began additionally to know Ben’s sense of concern at what he noticed and on a regular basis other people doubtlessly getting fleeced,” Mr. Silverman mentioned. Abrams Press is making plans to post their e-book, “Easy Money,” in 2023.

Mr. McKenzie mentioned his newfound hobby has left pals “supportive however perplexed,” whilst his spouse, the previous “Gotham” big name Morena Baccarin, is “simply uninterested in me speaking about it.” Mr. McKenzie has a bachelor’s level in economics from the College of Virginia, and through the years he has every now and then chatted concerning the intersection of legislation and finance along with his father, Pete Schenkkan, a regulatory legal professional in Austin. Nonetheless, Mr. Schenkkan mentioned, he used to be “astonished” to be told of his son’s crypto fixation. “It used to be a soar sideways from the remainder of his existence.”

The mission may be a deviation from what number of celebrities have approached crypto. Matt Damon gave the impression in a now-infamous business for Crypto.com, a buying and selling platform. Paris Hilton has been hawking NFTs. In an essay for Slate in October, Mr. Silverman and Mr. McKenzie wrote that superstar endorsements are exposing abnormal shoppers to scams similar to “rug pulls,” during which an nameless developer solicits finances from buyers after which disappears with the cash. “The Hollywoodization of crypto,” they wrote, “is an ethical crisis.”

Mr. McKenzie has joined a rising staff of skeptics and critics referred to as “no-coiners.” In February, he gave the impression on “Crypto Critics’ Corner,” a podcast hosted through Bennett Tomlin and Cas Piancey, who publish two episodes per week concerning the dangers of decentralized finance and different crypto ventures.

No-coiners are regularly the targets of on-line abuse, regardless that the trolling can run each tactics. “I’ve picked numerous fights,” Mr. Tomlin mentioned. “Frequently I used to be the only seeking to begin conflicts through seeking to indicate to people who ‘Prior to you mentioned this, now you’re announcing this.’”

The no-coiners have one of the crucial identical idiosyncratic obsessiveness because the crypto bros; like their antagonists, they acquire on Discord and Twitter to switch guidelines and memes, and so they’re fluent in acronym-heavy jargon. Mr. McKenzie recognizes that he’s an strange addition to their ranks, which consist in large part of journalists, software engineers and teachers. “I’m an actor,” he mentioned. “I don’t know what I’m doing.”

Mr. McKenzie’s background additionally offers him some benefits. Many crypto bros attempt to silence skeptics with the similar mic drop: “Have fun staying poor.” “They don’t use that line a lot with me,” Mr. McKenzie mentioned. “You need to check real-money financial institution accounts?”

However within the noisy international of crypto, TV reputation doesn’t essentially translate to steer. Prior to atmosphere out for the mine, Mr. McKenzie led a panel at South through Southwest referred to as “Believe Me I’m Well-known.” The consultation happened in a big auditorium, with many rows of empty seats. A bunch of younger fanatics cheered when Mr. McKenzie offered himself as Ryan from “The O.C.,” then spent the remainder of the development glued to their smartphones whilst he held forth at the risks of unregulated securities buying and selling. (He discovered his 6-year-old daughter, Frances, slumped in her seat on the finish of the panel. “I understand it used to be dull,” he advised her. “Are you mad at me?”)

Nor did Mr. McKenzie’s superstar open any doorways at Whinstone, the place he and Mr. Silverman have been hoping to do a little e-book analysis. When Mr. McKenzie pulled into the parking zone, a concerned-looking safety guard requested him to spot himself. “I’m an actor,” Mr. McKenzie mentioned. Had the guard observed “Gotham”? No. What about “The O.C.”? Additionally no. “Ask your daughter about ‘The O.C.,’” Mr. McKenzie responded with a smile. A 2nd safety guard mentioned he had watched “The O.C.” however didn’t acknowledge Mr. McKenzie.

After a couple of extra mins of bewilderment (one of the crucial guards stored regarding the mine’s superstar customer as “Invoice McKlensley”), the protection crew despatched Mr. McKenzie, Mr. Silverman and a cameraman who used to be documenting their travel to satisfy Chad Harris, a former Christmas tree salesman who now manages the Whinstone plant, which used to be obtained closing 12 months through the publicly traded Bitcoin mining corporate Insurrection Blockchain.

Mr. Harris appeared as relaxed in entrance of the digital camera because the actor grew to become critic who’d confirmed as much as spar with him; he mentioned he’d given 1,000 excursions of the ability. When photographers arrive on the mine, he mentioned, “I do know which approach to flip my shoulder.”

Mr. Harris mentioned he used to be assured he may just pass toe to toe with any skeptic; he bragged that he’d not too long ago schooled some crypto haters from Vice Information. “You’ll’t bash one thing for those who don’t know the entire details,” he mentioned. At one level, he boldly predicted that he may just alternate Mr. McKenzie’s thoughts about crypto with a unmarried sentence. He proceeded to talk for a number of mins instantly concerning the financial advantages of Bitcoin mining.

Mr. Harris led Mr. McKenzie and Mr. Silverman via an infinite warehouse full of masses of whirring machines. The cameraman captured photos of Mr. McKenzie in a difficult hat, nodding sagely whilst Mr. Harris defined the intricacies of the liquid-immersion cooling gadget that helps to keep the mining machines from getting too sizzling. On “The O.C.,” Ryan is a smartly of repressed emotion, hardly ever betraying a touch of his ideas. Mr. McKenzie, conversely, is a chatterbox: For 2 hours, he grilled Mr. Harris at the calories prices of crypto mining and the sensible software of Bitcoin because the digital camera rolled.

Mr. McKenzie and Mr. Silverman have floated the theory of adapting their still-unwritten e-book into some kind of Hollywood manufacturing. They’re modeling the mission on “The Large Quick,” Michael Lewis’s e-book concerning the savvy buyers who predicted the 2008 housing marketplace crash. The film adaptation options Margot Robbie consuming champagne in a tub as she explains the subprime loan disaster.

“Jacob and me in thongs,” Mr. McKenzie mentioned. “It will almost certainly flip other people away.” Mr. Silverman laughed. “I will be able to pass to the fitness center for one month,” he mentioned.

If that doesn’t figure out, there’s all the time TV. Mr. McKenzie mentioned he pitched Josh Schwartz, the “O.C.” author, on a reboot during which a cryptocurrency billionaire, possibly the son of Luke Ward, whose collection arc strains an evolution from villain to liked himbo, strikes to Newport Seaside and takes keep watch over of the native genuine property marketplace.

Mr. Schwartz “laughed in a well mannered way,” Mr. McKenzie mentioned. (In an interview, Mr. Schwartz urged an alternative crypto-themed follow-up involving advanced political machinations masterminded through Luke’s more youthful brothers. He added that Seth Cohen, Ryan’s geeky absolute best buddy performed through Adam Brody, would “undoubtedly be seeking to promote some NFTs.” Mr. Brody, reached through textual content, mentioned he agreed. “Or he’d be promoting bongs out of a van,” he mentioned. “I don’t know.”)

After the excursion, Mr. Harris led Mr. McKenzie and Mr. Silverman to a development that the mining team of workers name “the White Area” — the web site of the mine’s government place of work. Status through the door, Mr. McKenzie pressed Mr. Harris on his cryptocurrency commitments. Wasn’t it simply every other type of playing? A high-stakes poker sport and not using a genuine societal price?

Mr. Harris shrugged. He mentioned he used to be relaxed taking monetary dangers. “Consider it in parallel with your personal existence,” he mentioned. Mr. McKenzie had taken a destroy from performing and put his recognition at the line to write down a e-book arguing that the country’s tech elites are selling a glorified Ponzi scheme. “Existence’s a bet,” Mr. Harris mentioned.

For a break up 2nd, Mr. McKenzie gave the impression of Ryan Atwood once more, brooding thoughtfully.

“That’s true,” he mentioned. “That’s true.”