Number Go Up by Zeke Faux Summary

Number Go Up by Zeke Faux is an investigative deep dive into the cryptocurrency boom and collapse, exposing scams, questionable practices, and key players like Sam Bankman-Fried. The book traces crypto’s meteoric rise, the fall of FTX, and global scams like Cambodian “pig butchering” schemes, blending sharp analysis with dark humor. It was named a 2023 Book of the Year by The Washington Post and Financial Times.

This book is ideal for investors, finance professionals, and anyone curious about crypto’s risks and realities. Faux’s accessible storytelling suits both crypto skeptics and enthusiasts seeking a critical perspective. It’s particularly valuable for readers interested in financial fraud investigations or the societal impacts of speculative markets.

Yes. Faux’s witty, gripping narrative combines intrepid reporting with punchy prose, making complex topics like Tether and blockchain wallets digestible. The book offers rare insights into crypto’s underworld, including exclusive interviews with Sam Bankman-Fried before his arrest. Critics praise it as the definitive account of crypto’s 2022 collapse.

Faux argues crypto lacks real-world utility, thrives on hype, and enables fraud. He highlights Tether’s opaque reserves, FTX’s mismanagement, and how crypto facilitated human trafficking in Cambodia. The book questions whether blockchain technology solves actual problems or merely enriches promoters.

While both cover Sam Bankman-Fried and FTX, Number Go Up is praised as more incisive and critical. Faux focuses on systemic issues and global scams, whereas Lewis centers on SBF’s persona. Critics note Faux’s investigative rigor and dark humor set it apart.

• “Number go up”: A mantra reflecting crypto’s growth-through-speculation model.
• “A technology without utility cannot succeed”: Faux’s conclusion about crypto’s fundamental flaws.
• “Have fun staying poor”: A crypto bro slogan emblematic of the industry’s elitism.

The book examines El Salvador’s troubled Bitcoin adoption, Cambodian trafficking compounds using crypto for scams, and how Tether’s stablecoin propped up volatile markets. Faux reveals how crypto’s anonymity aids criminal enterprises and destabilizes economies.

Faux’s interviews and evidence from Number Go Up were cited in SBF’s fraud trial. His access to FTX’s inner circle provided critical context for prosecutors, underscoring the book’s role as a primary source on the case.

The book was named a 2023 Book of the Year by The Washington Post, Financial Times, and Wired. Faux, a Gerald Loeb Award winner, is lauded for blending rigorous investigation with engaging storytelling.

As a Bloomberg investigative reporter, Faux spent a decade exposing financial scams. His skepticism of crypto and expertise in fraud made him uniquely positioned to dissect its hype, culminating in a two-year global investigation for the book.

Faux emphasizes due diligence, questioning promoters’ claims, and recognizing hype cycles. The book serves as a cautionary tale about speculative manias and the importance of transparency in financial systems.

Despite crypto’s 2022 crash, Faux’s exposé remains vital as new speculative bubbles emerge. Its insights into fraud patterns, regulatory gaps, and technological overpromises help readers navigate evolving financial landscapes.