Author Zeke Faux discusses his book on cryptocurrency and insights from the Sam Bankman-Fried trial. Topics include the defense calling Martin Lewis as a witness, Sam's extreme views on politics and the world, the mindset of effective altruism, investigating Tether and the strange world of cryptocurrency, and the role of Tether in fueling the crypto market.
The podcast explores the shady characters and controversies surrounding the cryptocurrency industry, including the involvement of Brock Pierce and the controversial Tether coin.
The episode delves into the world of Tether, its role as the central bank of crypto, and its connection to illegal activities despite its shady reputation.
Deep dives
The Rise and Fall of Crypto: Insights from Bloomberg's Zeke Fox
Zeke Fox, the author of 'Number Go Up,' discusses the rise and fall of cryptocurrency in a podcast episode. He emphasizes the shady characters and bizarre events surrounding the industry, such as the involvement of former child actor Brock Pierce and the controversial Tether coin. Tether, referred to as the central bank of crypto, has raised red flags due to lawsuits and scandals, yet it continues to thrive. Fox also delves into the dark side of crypto, including pig butchering scams and illicit activities associated with the use of Tether. He also narrates his experiences at Ape Fest, a gathering of NFT enthusiasts that unfolded during the collapse of crypto prices. Overall, the episode provides a comprehensive overview of the crypto world, highlighting its eccentricities, controversies, and potential for financial fraud.
Tether: The Cryptocurrency Coin with Controversy
The podcast episode delves into the world of Tether, a cryptocurrency coin that acts as a stablecoin in the crypto market. Tether has been embroiled in controversies, including lawsuits and accusations of fraud. The episode explores the dual role of Tether as the central bank of crypto, creating money and being used in illegal activities such as pig butchering scams. Despite its shady reputation, Tether continues to be influential in the crypto market, underpinning the value of other cryptocurrencies. The episode discusses the lack of transparency and auditing in Tether's operations and its connection to other crypto companies like Celsius. It sheds light on the challenges faced by Tether and the larger implications for the crypto industry.
Inside Ape Fest: A Peek into the NFT Community
Ape Fest, an event for NFT enthusiasts, is explored in the podcast episode. Zeke Fox shares his experience attending Ape Fest during a time of plummeting crypto prices, leading to a somber atmosphere. The event serves as a simulation of community, filled with individuals who own NFTs called apes. The episode highlights the superficial nature of the event, with attendees focused on promoting their own apes and engaging in activities that lack genuine connections. The interaction with celebrity ape promoter Jimmy Fallon is recounted, emphasizing the dissonance between his role and the realities of ape ownership. Ape Fest reflects the cultural void and obsession over inflated values present in the NFT community.
The gang are joined by Zeke Faux (@zekefaux) to talk about his book "Number Go Up" and the Sam Bankman-Fried trial...
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