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Cryptomania : hype, hope, and the fall of FTX's billion-dollar fintech empire / Andrew R. Chow.

By: Material type: TextTextLanguage: English Publisher: New York : Simon Acumen, 2024Edition: First Simon Acumen hardcover editionDescription: viii, 404 pages : illustrations ; 24 cmContent type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISBN:
  • 9781668038161
Subject(s): LOC classification:
  • HG1710.3 .C552c 2024
Contents:
Prologue -- Introduction -- Part I: The idealists. Gas money -- A chance to be free -- Down the rabbit hole -- Earn to give -- A piece of history -- Losers' club -- Planet of the apes -- Casino with a view -- Million-dollar man -- Part II: The kingpin. The traditional buyer -- Dead simple arbitrage -- FTX -- Shitcoins -- Sam's APE SZN -- Total rug -- Philanthropist and colonizer -- Playing games -- The world's riches twenty-nine-year-old -- Island boy -- NFTs for good -- Part III: The power struggle. Vitalik's warning -- Christine and Amy -- Axie fatigue -- Sam pays off the umpires -- More Veep than West Wing -- "FTX will always be there" -- Trouble in paradise -- Coronation -- Part IV: The fall. Have fun staying poor -- Bulletproof? -- Crypto's J.P. Morgan -- We're not all gonna make it -- The "next level" alliance -- Vitalik's breakthrough -- Unknown unknowns -- Withdrawals -- Doomscrolling -- House arrest -- One last roulette spin -- Mania at work -- Epilogue: Zuzalu.
Summary: "As cryptocurrency rose in popularity during the pandemic, new converts bought into the idea that crypto would not only make them rich, but would usher in imminent revolutions across art, finance, politics, and gaming. Cryptocurrency caught the zeitgeist through figures like FTX CEO Sam Bankman-Fried, who only two years later would be convicted of one of the most calamitous acts of financial fraud in US history. During his meteoric rise, Sam Bankman-Fried outflanked idealists in the movement like Vitalik Buterin, who sought to build fairer, more democratic systems through Ethereum. Bankman-Fried pursued a growth-obsessed, by-any-means approach to crypto, which proved seductive to those who just wanted to get rich. But this Silicon Valley-like approach also drove the creation of a spate of high-risk financial instruments that mirrored those of the 2008 financial crisis. Accused of misleading investors and mishandling funds, Bankman-Fried became a target of prosecutors. Now, Cryptomania unfolds the tumultuous twenty months inside this male-dominated, overhyped industry that led to its downfall. Drawing on exclusive reporting and an extensive network in the global NFT community, Andrew Chow chronicles the battle for crypto's soul, and the human toll of its economic meltdown--from the conmen and eccentrics driving the bubble to the victims caught in its burst"-- Amazon.com.
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Holdings
Item type Current library Home library Collection Shelving location Call number Copy number Status Barcode
Libro Libro Biblioteca Juan Bosch Biblioteca Juan Bosch Automatización y Procesos Técnicos Automatización y Procesos Técnicos (1er. Piso) HG1710.3 .C552c 2024 (Browse shelf(Opens below)) 1 Available 00000198056

Includes bibliographical references (pages 319-387) and index.

Prologue -- Introduction -- Part I: The idealists. Gas money -- A chance to be free -- Down the rabbit hole -- Earn to give -- A piece of history -- Losers' club -- Planet of the apes -- Casino with a view -- Million-dollar man -- Part II: The kingpin. The traditional buyer -- Dead simple arbitrage -- FTX -- Shitcoins -- Sam's APE SZN -- Total rug -- Philanthropist and colonizer -- Playing games -- The world's riches twenty-nine-year-old -- Island boy -- NFTs for good -- Part III: The power struggle. Vitalik's warning -- Christine and Amy -- Axie fatigue -- Sam pays off the umpires -- More Veep than West Wing -- "FTX will always be there" -- Trouble in paradise -- Coronation -- Part IV: The fall. Have fun staying poor -- Bulletproof? -- Crypto's J.P. Morgan -- We're not all gonna make it -- The "next level" alliance -- Vitalik's breakthrough -- Unknown unknowns -- Withdrawals -- Doomscrolling -- House arrest -- One last roulette spin -- Mania at work -- Epilogue: Zuzalu.

"As cryptocurrency rose in popularity during the pandemic, new converts bought into the idea that crypto would not only make them rich, but would usher in imminent revolutions across art, finance, politics, and gaming. Cryptocurrency caught the zeitgeist through figures like FTX CEO Sam Bankman-Fried, who only two years later would be convicted of one of the most calamitous acts of financial fraud in US history. During his meteoric rise, Sam Bankman-Fried outflanked idealists in the movement like Vitalik Buterin, who sought to build fairer, more democratic systems through Ethereum. Bankman-Fried pursued a growth-obsessed, by-any-means approach to crypto, which proved seductive to those who just wanted to get rich. But this Silicon Valley-like approach also drove the creation of a spate of high-risk financial instruments that mirrored those of the 2008 financial crisis. Accused of misleading investors and mishandling funds, Bankman-Fried became a target of prosecutors. Now, Cryptomania unfolds the tumultuous twenty months inside this male-dominated, overhyped industry that led to its downfall. Drawing on exclusive reporting and an extensive network in the global NFT community, Andrew Chow chronicles the battle for crypto's soul, and the human toll of its economic meltdown--from the conmen and eccentrics driving the bubble to the victims caught in its burst"-- Amazon.com.

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