Cold Wallet: A Cryptocurrency Thriller with a Dark Satire
The new film Cold Wallet is introduced as a "Steven Soderbergh presentation," although Soderbergh’s involvement appears minimal beyond this credit. The true achievements belong to director Cutter Hodierne and screenwriter John Hibey, who craft a sharp commentary on the murky world of cryptocurrency, revealing its capacity to corrupt those who engage in its dubious practices.
The narrative centres on Billy, portrayed by charismatic Raúl Castillo, a man grappling with his failures and overly invested in a cryptocurrency named Tulip. His intentions are noble; he wishes to cash out enough to improve his financial situation and reconnect with his daughter, who lives with his estranged wife (played by Zoe Winters, known for her role in Succession). Just as he seems on the brink of success, Tulip’s value plummets following shocking news about its founder’s supposed demise, leaving Billy in debt rather than profit.
Billy’s financial woes resonate with his friend Dom (Tony Cavalero), a carefree spirit who has also gambled on Tulip. Dom risks losing his gym business as a consequence of this investment. The plot thickens when Eva (Melonie Diaz), another Tulip enthusiast Billy meets through online forums, discovers that the founder, Charles Hegel (Josh Brener, recognized from Silicon Valley), is alive and well, hiding in a nearby mansion.
Determined to reclaim their losses, Billy, Eva, and Dom embark on a quest to confront Hegel and demand reparations not just for themselves, but for all affected by the Tulip crash. However, their plan faces numerous hurdles, highlighting a stark contrast between their earnest but flawed efforts and Hegel’s cunning and manipulative nature. The film navigates complex discussions about cryptocurrency’s technical aspects—like cold wallets and passkeys—but prioritises an exploration of human psychology over mere tech jargon.
Ultimately, Cold Wallet delves into the intricate dynamics of greed, frustration, and powerlessness that underpin the capitalist space. While it certainly offers a modern take on the risks associated with speculation in digital currencies, it also serves as a broader commentary on ambition and moral decay.
Cold Wallet is available on digital platforms from 3 March, promising to be both an entertaining and thought-provoking look at the impact of cryptocurrency on human lives.