Why do cryptocurrencies have a bad impression? Hollywood directors criticize meme hype culture: it's the crypto world's own fault

Netflix launches a romantic comedy with a crypto theme, attempting to reverse Hollywood’s long-standing narrative equating cryptocurrencies with crime and seeking new mainstream outlets for the industry’s image.

Can a romantic comedy break the crime label as Hollywood ventures into the crypto industry?

According to previous reports by “Crypto City,” streaming giant Netflix announced it is officially producing a romantic comedy film titled “One Attempt Remaining” centered around cryptocurrencies. This news has garnered significant industry attention because Hollywood mainstream studios have historically been cautious about making cryptocurrencies the core subject of films.

In the past, the portrayal of cryptocurrencies on screen was mostly associated with negative activities, often depicted as tools for crime or money laundering. However, as blockchain technology gradually enters the public eye and audiences become more familiar with it, Hollywood’s storytelling style seems to be slowly changing. Although cryptocurrencies have existed for years, their appearances in media have mostly been limited to indie films, direct-to-video thrillers involving crime, or visual elements used to add a futuristic feel.

Cutter Hoderine, director of the indie thriller “Cold Wallet,” pointed out that even though the U.S. government actively monitors digital currencies and Wall Street even regards Bitcoin as an economic indicator similar to the S&P 500, cryptocurrencies still appear marginalized in film depictions.

Leo Matchett, CEO of Web3 film fund Decentralized Pictures (DCP), analyzed that this phenomenon relates to the adoption curve of the technology. He compares it to the internet of the late 1990s and early 2000s, when films rarely involved internet content until it became deeply integrated into social life, after which a large number of works about hackers and online activities emerged.

Image source: IMDb Director Cutter Hoderine (left) of the indie thriller “Cold Wallet” and Leo Matchett (right) of Web3 film fund Decentralized Pictures (DCP)

Currently, cryptocurrencies are on a similar trajectory, but the lack of large-scale mainstream applications in daily life largely limits screenwriters’ creative space.

Meme Culture and the Image of Wealthy Newcomers: The Self-Demonization of Crypto Communities

The negative image of cryptocurrencies in media largely stems from their long-standing association with criminal activities.

For example, the 2019 film “Crypto” and the 2020 “Money Plane” directly linked digital assets with money laundering and criminals. Even in the mainstream blockbuster “Mission: Impossible – Dead Reckoning,” a scene involving a transaction to acquire cyber weapons was conducted via cryptocurrency, and the film even featured the absurd scene of a phone displaying “decrypting blockchain.”

Image source: Reddit/Bitcoin In “Mission: Impossible – Dead Reckoning,” a ridiculous scene appears where a phone shows “decrypting blockchain”

Even when not involving crime, crypto users in media are often portrayed as negative characters. In the 2023 film “The Quiet Maid,” the wealthy family enthusiastic about cryptocurrencies and showcasing CryptoPunks NFTs is portrayed as obnoxious. In 2024’s “The Beekeeper” and 2025’s “Play Dirty,” the “Crypto Bro” characters are more like Yuppie villains from 1980s movies.

Viviane Ford, director of the web series “Crypto Castle,” bluntly stated that much of this notorious image is “self-inflicted” by the crypto community.

She questions what kind of culture produces $PEPE meme coins and frenzied hype, or packs Lamborghini into Dogecoin ($DOGE) and takes pride in it. Ford believes that crypto supporters tend to “self-meme” online, becoming disliked by the public, and are speeding down the road of negative narratives.

Image source: Bold Journey Magazine Director Viviane Ford of the web series “Crypto Castle”

Furthermore, the collapse of FTX and Terra caused heavy losses for many investors, making the public more likely to see cryptocurrencies as a glamorous form of gambling. In this cultural atmosphere, even when cryptocurrencies serve as a medium of value in films, they are often just interchangeable props, like the gold bars stolen in “Die Hard with a Vengeance,” merely symbols of value.

Industry Cycle Asymmetry: Why Are Crypto Brands Rarely Featured in Films?

Another puzzling phenomenon is that, despite the crypto industry’s ample funding, brand placements are extremely rare in media productions. Matchett revealed that even in the film “Cold Wallet,” which they supported and featured a crypto wallet, the production team did not receive any placement funding.

A few exceptions include the short film “Límite,” which gained support from the Monero ($XMR) community through on-chain proposals, using Monero as a symbol of potential and talent of the protagonist. The reason for this resource scarcity in placements is that the market cycle of cryptocurrencies is completely out of sync with the film development cycle. The crypto industry exhibits an extreme “profitable or famine” state, where companies often need to hoard resources during bull markets to survive the long winter.

However, film production often takes years. A crypto company that actively participates early in film development and has substantial funding might have already gone bankrupt and disappeared by the time filming or release occurs due to market volatility. This uncertainty makes long-term business collaborations between traditional producers and crypto firms highly risky. Additionally, to help mainstream audiences understand complex technical concepts like crypto wallets and seed phrases, filmmakers tend to simplify the narrative to the extreme.

This also leads many media works to revert to traditional genre structures, such as heist or thriller films, depicting conflicts between crypto CEOs and investors who have been rug-pulled. While this conservative approach lowers the barrier to understanding, it further reinforces stereotypes linking cryptocurrencies with scams and crime.

Future Outlook: From Meme and Criminals to the Core of the Economy

Despite these challenges, the perception of cryptocurrencies in media seems to be shifting. Netflix’s new film “One Attempt Remaining” attempts to incorporate the operation of crypto wallets and seed phrases directly into the plot, rather than just background setting.

Viviane Ford’s “Crypto Castle” aims to offer a more nuanced perspective. She spent four years living in a crypto brotherhood community in San Francisco, transforming her real experiences into stand-up comedy and series, aiming to portray more human and even adorable characters—though this is not easy given the current social climate.

Ford points out that the original intent of blockchain, decentralization, and cross-border payments was very serious and revolutionary, but in the end, what remains in the public eye are silly memes and absurd stories of 13-year-olds getting rich overnight.

Matchett believes that the film industry still lacks successful positive stories to showcase the potential of this technology. He predicts that talented creators will soon find simple and clear ways to explain these concepts to audiences in a short time, and will focus their narratives on the conflict between “centralization and decentralization.”

As cryptocurrencies become an integral part of the global economy over the next decades, they will naturally integrate into various adventure and action movies, just like cash and credit cards today. From being merely a crime label to a story driven by technology, the transformation of cryptocurrencies in Hollywood is just beginning.