Back to today’s briefing

Story perspectives

Ben McKenzie Labels Crypto Ponzi Scheme, $TRUMP Plummets 96%

5/19/2026

45 9 Full Breakdown

Summary

Story summary

Ben McKenzie called the cryptocurrency sector a Ponzi scheme during a televised interview.
He told Bill Maher $TRUMP meme coin fell 96% and only a few insiders profited, recalling his 2022 Senate Banking Committee testimony warning crypto could be larger than Madoff’s fraud.
He noted that after his October warning on crypto endorsements, the market peaked in November, then lost 70-75% of value, and investors dined with President Donald Trump.

1 of 1

Story summary

Ben McKenzie called the cryptocurrency sector a Ponzi scheme during a televised interview.
He told Bill Maher $TRUMP meme coin fell 96% and only a few insiders profited, recalling his 2022 Senate Banking Committee testimony warning crypto could be larger than Madoff’s fraud.
He noted that after his October warning on crypto endorsements, the market peaked in November, then lost 70-75% of value, and investors dined with President Donald Trump.