Ben McKenzie Crypto Book Exposes $2T Grift as BTC Hits $77K

Ben McKenzie crypto book 'Everyone Is Lying To You For Money' exposes the cryptocurrency industry's $2 trillion grift. Bitcoin reached $77,262, up 3.0% on October 10, 2024, per CoinGecko. The Fear & Greed Index hit 21, signaling Extreme Fear (Alternative.me).

Ethereum rose 3.7% to $2,432. XRP gained 2.2% to $1.48. BNB increased 1.6% to $644.68. USDT held steady at $1.00.

• Asset: BTC · Price (USD): 77,262 · 24h Change: +3.0% · Market Cap (USD): 1.53T
• Asset: ETH · Price (USD): 2,432 · 24h Change: +3.7% · Market Cap (USD): 293B
• Asset: USDT · Price (USD): 1.00 · 24h Change: 0.0% · Market Cap (USD): 119B
• Asset: XRP · Price (USD): 1.48 · 24h Change: +2.2% · Market Cap (USD): 84B
• Asset: BNB · Price (USD): 644.68 · 24h Change: +1.6% · Market Cap (USD): 94B

Total crypto market cap hit $2.1 trillion (CoinGecko).

Cloud Infrastructure Fuels Crypto Grift Scale

Ben McKenzie crypto book spotlights token launches via cloud-hosted smart contracts on Ethereum. Amazon Web Services (AWS) powers thousands of daily Uniswap deployments. Solana processes high-speed trades on cloud servers, enabling rug pulls and exit scams.

Coinbase and Binance run DeFi apps on cloud platforms. McKenzie cites Glassnode data: whale inflows spiked during fear phases like index 21.

Google Cloud runs Ethereum validators, mixing centralization into decentralization claims. This supports 1 million+ daily DeFi transactions (Dune Analytics). AWS holds 40% of blockchain workloads, per Q3 2024 earnings call.

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BlackRock Bitcoin ETFs, approved January 2024, drew $28 billion inflows by October 2024 (ETF.com). BlackRock's IBIT ETF manages $20.5 billion AUM as of October 8, 2024.

April 2024 halving cut BTC issuance to 3.125 coins per block, targeting 21 million supply cap. Ethereum's 2022 Merge to Proof-of-Stake reduced energy use by 99.95% (Ethereum Foundation).

Chainlink oracles feed prices, but errors boost volatility in futures positions.

Extreme Fear Index at 21 Echoes Past Bottoms

Fear & Greed at 21 matches 2022 BTC low of $15,500. Institutions bought via BlackRock ETFs, with $1.2 billion net inflows last week (Farside Investors).

XRP rises on Ripple court wins. BNB lags amid Binance meme coin launches on cloud platforms. McKenzie flags impermanent loss: liquidity pools lose 20-50% in failed projects (Dune Analytics).

Traders watch BTC resistance at $77,262 and ETH above $2,432, per TradingView charts.

Cloud Tech Drives DeFi Expansion and Risks

AWS dominates serverless DeFi with 40% workloads (AWS Q3 2024). Google Cloud validators spark permissioned network worries. McKenzie demands protocol audits.

EU MiCA rules hit stablecoins January 2026. Tether pegs $1.00 with $119 billion reserves (attestations). Federal Reserve cut rates to 4.75%, fueling inflation hedges. ECB tightens cross-border rules.

Google Cloud earned $36 billion revenue in Q3 2024, up 35% year-over-year, partly from blockchain nodes. AWS crypto services contribute to $25 billion infrastructure segment (Amazon filings).

Ben McKenzie crypto book equips investors against grifts. Cloud innovations like zk-SNARKs boost privacy but enable sophisticated scams. Audit protocols for sustainable returns.