Number Go Up: Inside Crypto's Wild Rise and Staggering Fall

Wow, Zeke Faux manages to make the dry world of digital finance read like a high-stakes spy novel. I was hooked from the first chapter where he starts hunting for the mysterious "Tethers" that seem to prop up the entire market. His writing style is punchy, cynical, and incredibly funny. You can feel his frustration as he tracks down the "wunderkind" Sam Bankman-Fried in the Bahamas, only to find a guy in cargo shorts who may or may not be running a multi-billion dollar Ponzi scheme. The way Faux describes the absurdity of Ape Fest—rich people partying while their investments evaporate—is just chef's kiss. To be fair, he’s clearly a skeptic, and if you’re a crypto true believer, you’re going to hate this. But for the rest of us? It’s a masterclass in narrative journalism. I finished it in two sittings because the pacing is just that good.

The investigative depth regarding the 'pig butchering' scams in Cambodia is what sets this apart from other financial books. Most authors stay in the boardrooms or on Twitter, but Faux actually goes to the source. He finds people who were kidnapped and forced to run crypto scams at gunpoint. It’s horrifying. This isn't just a book about people losing money on monkey cartoons; it's about the real-world human cost of an unregulated, shadowy financial system. While the author's voice is prominent, the reporting here is vital. You see the connection between flashy Miami parties and dark slave compounds in Southeast Asia. It’s a sobering reminder that while some were chasing a speculative high, others were being exploited in the most brutal ways imaginable. Essential reading for anyone who thinks crypto is a victimless game.

Frankly, this is the book Michael Lewis should have written if he hadn't been so charmed by Sam Bankman-Fried. Faux doesn't fall for the 'altruistic genius' act for a second. Instead, he treats SBF and the rest of the crypto elite with the skepticism they deserved. The reporting is globe-spanning and genuinely impressive. He takes you from the sterile offices of hedge funds to the dusty roads of El Salvador, where Bitcoin City remains a pipe dream. The prose is sharp and the moral compass is steady. He captures the 'get-rich-quick' mania of the pandemic years perfectly. It’s the definitive account of the crypto bubble. If you want to understand how billions of dollars vanished into thin air while everyone was distracted by hype, look no further. This is investigative journalism at its finest.

Look, if you want a technical manual on blockchain, go elsewhere. But if you want a riveting, appalling tale of how the world went collectively insane for three years, this is your book. Faux's persistence is amazing. He goes to places most journalists wouldn't dare just to see if the 'digital gold' actually exists. Spoiler: it usually doesn't. The narrative is cohesive, compelling, and moves faster than the price of Dogecoin in 2021. I loved the contrast between the utopian dreams of the crypto bros and the gritty reality of the slave labor camps in Cambodia. It’s a gut-punch of a book that exposes the 'no there there' at the heart of the industry. Zeke Faux has nerves of steel. I haven't been this entertained by a business book in years. Absolutely brilliant.

Ever wonder why people were spending millions on cartoon monkeys? This book provides the most entertaining answer you'll ever find. Faux has a real gift for wit and humor that makes the staggering fall of the crypto market actually fun to read about. He doesn't just sit behind a desk; he travels to the Bahamas, Miami, and El Salvador to see the madness firsthand. I particularly enjoyed the awkward conversations he had with his wife about why he needed to buy an NFT. It’s hilarious yet tragic. My only minor gripe is that he sometimes focuses too much on his own reactions rather than the people he’s interviewing. Still, the storytelling is top-notch and it moves at a breakneck speed. If you want a deep dive into the 'Number Go Up' mentality, this is it.

Picked this up on a whim after the FTX collapse and couldn't put it down. Faux's wit is his greatest weapon as he navigates a world of billionaires, scammers, and delusional 'visionaries.' The book is incredibly informative, giving a clear-eyed look at how zero interest rates fueled a market where 'worthless' digital art could sell for a fortune. I loved the chapters on Ape Fest—the sheer absurdity of the celebrity endorsements is mind-boggling in retrospect. Frankly, the book reads like a comedy of errors until it reaches the darker parts of the industry. My only criticism is that the narrative structure feels a bit disjointed in the middle. However, the author’s dogged pursuit of the truth behind USDT keeps you turning the pages. It's a fantastic expose of modern greed.

El Salvador’s failed Bitcoin experiment gets a brutal, necessary spotlight here. Faux meets with local farmers whose land is being eyed for 'Bitcoin City' and asks the questions the government would rather ignore. It’s a great example of how this 'revolution' actually impacts regular people. The book is bleakly humorous but never loses sight of the wreckage left behind by these schemes. Faux is a great writer who knows how to balance technical explanations with human interest stories. I do wish he had spent a little more time on the technical uniqueness of blockchains instead of just mocking them, but I understand that wasn't his goal. He wanted to find the fraud, and he found plenty of it. Highly recommended for anyone who likes a well-told story of inanity and greed.

Finally got around to reading this and it’s basically a horror story disguised as a business book. Faux captures the sheer inanity of the crypto boom with a wit that is both sharp and necessary. From the FOMO-driven behavior at Miami conferences to the staggering fall of FTX, he covers it all. The reporting on 'pig butchering' scams was particularly eye-opening for me. It’s easy to laugh at 'monkey cartoons,' but it’s much harder to laugh when you see the criminal infrastructure powered by these currencies. To be fair, the author’s 'hater' energy is high, and he definitely backstabs some of his sources. But in a world where so many people were lying to make the 'number go up,' his blunt honesty is refreshing. A fast-moving, informative, and deeply cynical read.

As a long-term crypto investor, I found Faux’s tone incredibly patronizing at times. He enters every situation with his mind already made up, dismissing complex blockchain technology as basically just a spreadsheet. This book is less about 'learning' crypto and more about a journalist wanting to show everyone how smart he is for not falling for the hype. He spends 300 pages talking about himself, often glossing over the actual utility of decentralized finance in developing nations. To be fair, his reporting on the FTX collapse is quite vivid, and he definitely has a way with words. But the ego-centric perspective gets exhausting after a while. It’s a well-written narrative, sure, but it feels like a hit piece designed to make 'crypto bros' look as stupid as possible without engaging with the tech.

In my experience, books by Bloomberg journalists usually have a bit more technical rigor than what Faux offers here. He spends a lot of time calling blockchains 'just a spreadsheet' and mocking the culture, which is fine for a laugh, but it leaves some of the actual innovation ignored. He seems much more interested in the loud personalities and the obvious scams than the underlying tech. The chapters on Tether are fascinating, yet he never quite manages to prove the insolvency he’s so obsessed with. Truth is, the book leans heavily on his own persona as the 'confused gringo' wandering through crypto-land. It’s an entertaining read, don’t get me wrong. I just wish there was more 'how it works' and a little less 'look at this weirdo I met in a bar.' Good for a plane ride.