Number Go Up - Zeke Faux Interview
Source: YouTube · Patrick Boyle · published Sep 16, 2023 · 1:12:38
Zeke Fox discusses his book "Number Go Up," which chronicles his investigation into the crypto world's greatest financial mania, focusing on the human stories behind the scams and the rise of figures like Sam Bankman-Fried 1:00.
Key Takeaways:
• Fox framed the book as a social history rather than a technical manual, embedding himself with "hustlers, zealots, and con men" to witness the mania firsthand 1:21.
• He purchased a "Mutant Ape" NFT for $20,000 to access exclusive parties but found the community superficial and primarily driven by greed rather than shared interests 6:30.
• Major platforms like Celsius Network and Axie Infinity were exposed as unsustainable schemes that devastated vulnerable investors, with the latter even funding North Korean weapons programs 34:00.
• Despite claims of being the future of finance, crypto proved cumbersome and impractical for daily use, as seen when merchants in El Salvador rejected Bitcoin despite it being legal tender 25:00.
• Fox's investigation into Tether revealed its dark utility, linking the stablecoin to human trafficking and scam compounds in Southeast Asia where it was used to buy and sell victims 42:55.
Ultimately, Fox concludes that the crypto boom was largely a speculative bubble that prioritized getting rich over utility, leaving a trail of financial ruin in its wake 46:00.
Sources:
- 1:00 Introduction to the book and the financial mania
- 6:30 Buying a Bored Ape NFT and attending the party
- 25:00(https://www.youtube.com/wa
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First 800 characters of the transcript
welcome back everyone so I am delighted to have Zeke Fox on the channel the author of number go up which is a book that just came out two days ago and I kind of read it in a day and a half it's it's not a short book but it is awfully entertaining and so I spoke to him and asked him if he would come on the channel and talk to you guys and so the uh the book is basically it's about crypto it's about Sam bankman freed it's uh you know all of the stuff that you've probably been reading in the Press over the last few years but uh the thing that's most entertaining is it's not just sort of a technical Manual of kind of how things work in the world of crypto it's much more of uh kind of a social history of cryptocurrencies it's telling you about kind of what went on and how it affected real peopl…