Zeke Faux
National Fellow, 2023
The 鈥渆ndlessly entertaining鈥 (Matt Levine) and 鈥渓udicrously compelling鈥 (Evan Osnos) account of the crypto delusion, and how Sam Bankman-Fried and a cast of fellow nerds and hustlers turned useless virtual coins into trillions of dollars.
In 2021 cryptocurrency went mainstream. Giant investment funds were buying it, celebrities like Tom Brady endorsed it, and TV ads hailed it as the future of money. Hardly anyone knew how it worked鈥攂ut why bother with the particulars when everyone was making a fortune from Dogecoin, Shiba Inu, or some other bizarrely named 鈥渄igital asset鈥?
As he observed this frenzy, investigative reporter Zeke Faux had a nagging question: Was it all just a confidence game of epic proportions? What started as curiosity鈥攚ith a dash of FOMO鈥攚ould morph into a two-year, globe-spanning quest to understand the wizards behind the world鈥檚 new financial machinery. Faux鈥檚 investigation would lead him to a schlubby, frizzy-haired twenty-nine-year-old named Sam Bankman-Fried (SBF for short) and a host of other crypto scammers, utopians, and overnight billionaires.
Faux follows the trail to a luxury resort in the Bahamas, where SBF boldly declares that he will use his crypto fortune to save the world. Faux talks his way onto the yacht of a former child actor turned crypto impresario and gains access to 鈥淎peFest,鈥 an elite party headlined by Snoop Dogg, by purchasing a $20,000 image of a cartoon monkey. In El Salvador, Faux learns what happens when a country wagers its treasury on Bitcoin, and in the Philippines, he stumbles upon聽a Pok茅mon knockoff mobile game聽touted by boosters as a cure for poverty.聽And in an astonishing development, a spam text leads Faux to Cambodia, where he uncovers a crypto-powered human-trafficking ring.
When the bubble suddenly bursts in 2022, Faux brings readers inside SBF鈥檚 penthouse as the fallen crypto king faces his imminent arrest. Fueled by the absurd details and authoritative reporting that earned Zeke Faux the accolade 鈥渙ur great poet of crime鈥 (Money Stuff columnist Matt Levine), Number Go Up is the essential chronicle, by turns harrowing and uproarious, of a $3 trillion financial delusion.