26 episodes

Bitcoin, the Blockchain, Web3, NFTs...welcome to the Scam Economy. Host Matt Binder (The Majority Report w/ Sam Seder, DOOMED) dives into the world of cryptocurrency in order to reveal the frauds, grifts, and scams. And there's plenty because, really, the whole thing is a scam. It's the Scam Economy.

Scam Economy Matt Binder

    • Technology
    • 4.9 • 281 Ratings

Bitcoin, the Blockchain, Web3, NFTs...welcome to the Scam Economy. Host Matt Binder (The Majority Report w/ Sam Seder, DOOMED) dives into the world of cryptocurrency in order to reveal the frauds, grifts, and scams. And there's plenty because, really, the whole thing is a scam. It's the Scam Economy.

    21: Coinspiracy: How QAnon Influencers Conned Their Followers with Crypto (w/ Ernie Piper & Nick Backovic of Logically.ai)

    21: Coinspiracy: How QAnon Influencers Conned Their Followers with Crypto (w/ Ernie Piper & Nick Backovic of Logically.ai)

    Logically.ai UK editor Ernie Piper and Senior OSINT Analyst Nick Backovic join Matt Binder on Scam Economy to discuss the tech-based anti-misinformation firm's report on the QAnon influencers scamming their followers with crypto pump-and-dump schemes. We discuss the QAnon conspiracy theory and how its conspiratorial right wing beliefs fit perfectly into the cryptocurrency scams, the Stellar network which makes minting of these tokens extremely easy, who are WhipLash347 and PatriotQakes (aka Emily Tang): the influencers involved in promoting these schemes to their followers, the real financial losses as well as the story of one individual who took their life after losing their money and business, and much more.

    Read the Logically.ai report: https://www.logically.ai/articles/qanon-crypto-lose-followers-2-million
    Check out ScamEconomy.com
    Support the show: http://www.patreon.com/mattbinder

    • 58 min
    20: Damn, the Torpedoes: The Story of Celsius (w/ Mike Burgersburg/Dirty Bubble Media)

    20: Damn, the Torpedoes: The Story of Celsius (w/ Mike Burgersburg/Dirty Bubble Media)

    Mike Burgersburg of Dirty Bubble Media joins Matt Binder on Scam Economy to breakdown his reporting on the crypto lender Celsius, how they contributed to the crypto crash, why they've frozen all of their customers accounts, its founder Alex Mashinsky and his interesting past, is Celsius a ponzi?, what is CEL token, how his @MikeBurgersburg account was hacked just as he was reporting on Celsius and another troubled cryptocurrency lender called Voyager, and much more!Check out Mike's new Twitter account: @dirtybubblemed and his reporting on Substack: https://dirtybubblemedia.substack.com. Visit: ScamEconomy.com. Support the show: http://www.patreon.com/mattbinder.

    • 1 hr 4 min
    19: Crypto Jenga Tower Collapse: Celsius & the Crypto Time Bombs (w/ David Gerard & Amy Castor)

    19: Crypto Jenga Tower Collapse: Celsius & the Crypto Time Bombs (w/ David Gerard & Amy Castor)

    Crypto critics David Gerard & Amy Castor join Matt Binder on Scam Economy to talk about the "Jenga stack of interconnected time bombs" that is this week's cryptocurrency crash. David and Amy breakdown how the entire crypto space is like a Jenga tower and all it takes is for one rug pull to knock down the stack, how Terra/Luna set the stage for the plunge, what Celsius is and why it was the next piece to take down what was left, what the role crypto exchanges like Coinbase play, why crypto hedge funds like Three Arrows Capital are now floundering, and how Tether, Bitcoin miners, and even Mt. Gox will continue to play a role in crypto's nosedive. Read David and Amy's piece, The Latecomer’s Guide to Crypto Crashing: https://amycastor.com/2022/06/14/the-latecomers-guide-to-crypto-crashing-a-quick-map-of-where-we-are-and-whats-ahead/ - Visit: ScamEconomy.com - Support the show: http://www.patreon.com/mattbinder

    • 1 hr 9 min
    18: They Lost Everything: How the Terra Crypto Crash Ruined Lives Around the World (w/ Leo Schwartz)

    18: They Lost Everything: How the Terra Crypto Crash Ruined Lives Around the World (w/ Leo Schwartz)

    Leo Schwartz, reporter at Rest of World, joins Scam Economy with Matt Binder to discuss his recent piece interviewing people from around the world who had invested in the stablecoin Terra and lost everything they had in the crash. We also discuss the predatory nature of crypto and DeFi, why people in countries like Argentina, Iran, and Nigeria invest in crypto, how the industry preys on the most economically vulnerable, and more! Check out Leo's pieces that we discuss on the show: 1) https://restofworld.org/2022/argentina-nigeria-terra-crash/ 2) https://restofworld.org/2022/crash-crypto-hodling-bitfinex-ardoino/ 3) https://restofworld.org/2021/insiders-and-experts-are-driving-a-massive-spike-in-crypto-transactions-new-data-shows/ Visit: ScamEconomy.com Support the show: http://www.patreon.com/mattbinder

    • 1 hr 13 min
    17: Bitcoin Nazis, Ethereum Grifters: A Tale of Two Communities (Scam Economy LIVE in Brooklyn w/ Michael E. Hayden)

    17: Bitcoin Nazis, Ethereum Grifters: A Tale of Two Communities (Scam Economy LIVE in Brooklyn w/ Michael E. Hayden)

    Michael Edison Hayden of the Southern Poverty Law Center joined Matt Binder for a LIVE episode of Scam Economy as part of the Digital Void Festival: Brooklyn on May 26 at Littlefield's. Matt takes a look at the two biggest crypto communities: the "artists"/hucksters of Ethereum (Gary Vee, Jimmy Fallon) and the cryptonazis of Bitcoin, how the real split in cryptocurrency is the 99.99% vs. the 0.01%, and Michael Hayden breaks down his recent reporting on the millions of dollars in crypto being sent to Alex Jones and how white supremacists have become rich with crypto cash. Check out Michael on Alex Jones and his Bitcoin donations: https://www.splcenter.org/hatewatch/2022/05/26/alex-jones-bitcoin-8-million-infowars. Michael on white supremacists and crypto: https://www.splcenter.org/hatewatch/2021/12/09/how-cryptocurrency-revolutionized-white-supremacist-movement. Visit http://www.ScamEconomy.com. Support the show: http://www.patreon.com/mattbinder

    • 41 min
    16: How Wikipedia Cancelled Crypto (w/ Molly White)

    16: How Wikipedia Cancelled Crypto (w/ Molly White)

    Longtime Wikipedia editor and Web3 is Going Great creator Molly White joins Matt Binder on Scam Economy to discuss why Wikipedia stopped taking cryptocurrency donations, how the Wiki community came together to make it happen, what happened when crypto advocates tried to stop the decision, the history of Wiki and cryptocurrency, and much more! Check out Web3 Is Going Great @ https://web3isgoinggreat.com. Visit ScamEconomy.com. Support the show: http://www.patreon.com/mattbinder

    • 56 min

Customer Reviews

4.9 out of 5
281 Ratings

281 Ratings

JFE1138 ,

Funny and Infomative

Great info, funny. Love the Theme song!

dinahcodes ,

Good show

Well balanced criticisms on crypto/web3

also a geezer ,

Scam economy is great

Watch it before getting involved with any web 3 crap.

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