Factually! with Adam Conover

Inside the Crypto Crash with Zeke Faux

Oct 11, 2023

Investigative reporter Zeke Faux delivers a captivating account of the sharp ascent and rapid collapse of cryptocurrency. They discuss the crypto bubble, the mysterious world of tether, the appeal and absurdity of NFT collections, risks of buying cryptocurrency, El Salvador's experience with crypto wallets, and blockchain in online scams.

01:07:31

Episode guests

Zeke Faux

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Episode notes

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Quick takeaways

Crypto scams and questionable practices fueled the bubble and led to the financial loss for many investors.

Investing heavily in games like Axie Infinity caused dire financial situations for families caught up in the crypto mania.

The adoption of Bitcoin as an official currency in El Salvador did not bring the expected economic boost and left many disillusioned.

Deep dives

The Rise and Fall of Crypto Mania

At the height of the crypto mania, the financial world was swept up in the frenzy. From Wall Street investors to average Americans, everyone was looking to make money in this new and exciting way. However, investigative reporter Zeke Fox delves deep into this world, revealing the absurdity and questionable practices that fueled the bubble. Companies like Tether came under scrutiny for their lack of transparency and questionable business practices. The crash that followed left many people disillusioned as they lost significant amounts of money. Overall, the crypto hype turned out to be nothing more than a smoking crater of failure.

Introduction

4min

The Crypto Bubble and Its Fallout

16min

The Mysterious World of Tether

13min

Entrepreneurial Energy, Board Ape, and Crypto Crash

5min

The Appeal and Absurdity of NFT Collections

4min

The Risks and Challenges of Buying Cryptocurrency

17min

El Salvador's Experience with Crypto Wallets and Bitcoin ATMs

2min

Blockchain in Online Scams

10min

Thanking the Guest, Book Promotion, and Tour Dates

2min

Remember crypto? Only a year ago, it seemed like the future of finance, but now it's a smoldering crater in the ground. Between large corporations and everyday people that got caught up in the grift, trillions of dollars vanished seemingly overnight. But what was it like in the heart of this surreal, million-dollar-monkey-jpeg storm? Zeke Faux, investigative reporter and author of Number Go Up: Inside Crypto's Wild Rise and Staggering Fall, joins Adam to deliver a captivating and hilarious account of the sharp ascent and rapid collapse of the world of cryptocurrency. Find Zeke's book at factuallypod.com/books

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