I Wrote a Play About Crypto's Outlaws; the Sequel Had to Be About Power
Summary
A journalist who covered cryptocurrency for years wrote a play about the industry's early figures and scandals, including the FTX collapse. After President Donald Trump’s 2024 election and his supportive actions toward crypto, the industry's story shifted from being outsiders facing jail to becoming more integrated with political power and mainstream influence.Key Facts
- The author spent a decade reporting on cryptocurrency, including the FTX collapse and its founder Sam Bankman-Fried’s 25-year sentence.
- The play "Happenstance" opened in New York in October 2024 and features characters inspired by real crypto figures like Charlie Shrem and Sam Bankman-Fried’s family.
- Early crypto stories focused on founders facing legal troubles, such as Ross Ulbricht and Arthur Hayes.
- Two weeks after the play closed, President Donald Trump was elected in 2024.
- President Trump pardoned several crypto figures and reduced some prosecutions against crypto industry players.
- The Trump family launched a “Trump memecoin” that reportedly made $625 million in 2025.
- President Trump gave a keynote speech at the 2024 Bitcoin Conference, promoting America as a crypto leader.
- Under the Biden administration, crypto faced regulatory challenges, including SEC lawsuits and bank account shutdowns.
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