In the mid 21st century, a Swiss cyber-security firm tasked with countering ransomware attacks on major financial institutions exposes a Russian criminal gang supported by a top North Korean hacker. This leads to the discovery of a much more dangerous plot to destroy economic databases, aimed at causing chaos on a global scale. The defence against this threat requires extending the abilities of neural networks run on an advanced quantum computer, creating a form of artificial intelligence which can compromise the cryptography forming the basis of the security of both computer networks and electronic communication. Not only does this tool exceed expectations, it opens a Pandora's Box of other possible applications that could risk destruction of civil liberties and the entire basis of free democracies. The team use this tool to combat threats from China, the USA and also criminal organisations who are competing to gain control of such power. Inevitably, this leads to inflicting punishments that are comparable with the impacts of conventional warfare. Recognising the dangers of wider access to this technological singularity, they decide to actively limit further developments in this direction elsewhere so that, for the near future, this small group are reluctantly placed in the position of a global oligarchy - with all the responsibilities and dangers that this entails.
'A gripping real-life financial thriller.' CLAER BARRETT, AUTHOR OF WHAT THEY DON'T TEACH YOU ABOUT MONEY 'Anybody who wants to understand the cryptocurrency mania should read Hype Machine.' LIONEL BARBER, FORMER EDITOR OF THE FINANCIAL TIMES On 2 November 2023, in one of the largest fraud trials in history, Sam Bankman-Fried was found guilty of stealing billions of dollars from the customers of his crypto-exchange, FTX. How did this 31-year-old Californian in shorts and a T-shirt manage to become one of the most famous CEOs in the world? How did greed, fear and free money inflate the crypto bubble until it finally popped with devastating consequences for millions of people who lost money in the crash? Who were the enablers, investors and innovators who transformed the original promise of crypto into a digital Wild West? Hype Machine is the definitive story of the boom and bust of crypto, written by award-winning Financial Times journalist Joshua Oliver. Expansive, nuanced and eminently entertaining, it demystifies the crypto circus by following the journeys of its most influential participants and the trajectory of SBF, its enigmatic ringmaster. Oliver, who reported on the crypto crash with extensive access to SBF himself, introduces readers to the people and ideas that shaped crypto's wild rise and fall, including Arthur Hayes, Changpeng Zhao and the coterie of acolytes who surrounded FTX. Through exclusive interviews, compelling research and with ringside seats at the trial of the decade, he paints a vivid, detailed and tragi-comic picture of this defining financial moment of our times.
This incisive and thought-provoking book examines the regulation of cryptocurrency trading by state and federal financial services regulators, in order to understand why these statutes proved to be ineffective in regulating this new asset class. Furthermore, it analyzes and evaluates pending proposals in Congress for more effective cryptocurrency regulation.
Why the dollar is—and will remain—the dominant global currency The U.S. dollar's dominance seems under threat. The near collapse of the U.S. financial system in 2008–2009, political paralysis that has blocked effective policymaking, and emerging competitors such as the Chinese renminbi have heightened speculation about the dollar’s looming displacement as the main reserve currency. Yet, as The Dollar Trap powerfully argues, the financial crisis, a dysfunctional international monetary system, and U.S. policies have paradoxically strengthened the dollar’s importance. Eswar Prasad examines how the dollar came to have a central role in the world economy and demonstrates that it will remain the cornerstone of global finance for the foreseeable future. Marshaling a range of arguments and data, and drawing on the latest research, Prasad shows why it will be difficult to dislodge the dollar-centric system. With vast amounts of foreign financial capital locked up in dollar assets, including U.S. government securities, other countries now have a strong incentive to prevent a dollar crash. Prasad takes the reader through key contemporary issues in international finance—including the growing economic influence of emerging markets, the currency wars, the complexities of the China-U.S. relationship, and the role of institutions like the International Monetary Fund—and offers new ideas for fixing the flawed monetary system. Readers are also given a rare look into some of the intrigue and backdoor scheming in the corridors of international finance. The Dollar Trap offers a panoramic analysis of the fragile state of global finance and makes a compelling case that, despite all its flaws, the dollar will remain the ultimate safe-haven currency.
This book explains how the crypto industry started and evolved, and how everything in crypto is ultimately connected. It shows the players behind the $3trn industry (at its peak) and how billions of dollars were lost. "If you want to understand how everything in crypto is related, and why and when crypto prices move up or down, this book is for you." Praise for CRYPTO TITANS “Fortunes are won and lost when transformations happen. Bitcoin is transforming the entire economy, and there will be many fortunes won and lost. But the drumbeat continues. Technology always shines in the end. Read this book. Great lessons learned.” ― Tim Draper, Founder, Draper Associates “This book is essential reading for anyone interested in understanding the history of crypto. Markus has done an excellent job covering all the important names and stories that have shaped the crypto industry, consistently hitting the nail on the head with accurate analysis to help readers understand the motivations and personal characteristics. I highly recommend this book to anyone.” ― Jihan Wu, Founder, Bitdeer and Matrixport In this book you'll learn: How each of the four crypto bull markets of 2011, 2013, 2017, and 2021 unfolded, the drivers behind them, and what caused prices to correct violently during bear markets How crypto markets naturally progressed, and how everything is therefore related The players involved, and how they have made money—while others have lost large sums. Understanding these points may help the reader to identify the next crypto bull market. The last 3yrs have been the most instrumental in the development of the market, with the adoption level reaching not only individuals but also asset managers and corporate executives—only for the development to be cataclysmically overshadowed by bankruptcies of multi-billion-dollar crypto lending firms and crypto trading desks. Overview: The 1st of the book describes how Bitcoin started as a peer-to-peer payment system, and how the first crypto bubble was facilitated by onramp payment companies in 2011, which mainly funneled money into the notorious Mt. Gox exchange, eventually leading to investors’ funds being stolen. The 2nd analyzes how China embraced Bitcoin and hailed it as a new form of money, which set off a massive speculative bubble in 2013. The 3rd describes how Ethereum got really started and set off the period of initial coin offerings (ICOs) that would lead to the third bull market in 2017. It also identifies the decisions that caused Tether to become the most important stablecoin. The 4th of the book shows how decentralized finance (DeFi) started, and how the speculative mania that was set off by the COVID stimulus checks would reach its peak. Binance became the largest crypto exchange despite its controversies, and effectively dethroned BitMEX as the most important crypto exchange. The crypto trading firms Alameda Research and Three Arrows Capital also became multi-billion-dollar players in the crypto bull market. The 5th of the book takes a deep dive into the 2022 bear market, exploring how crypto spectacularly crashed from a multi-trillion-dollar valuation and why the implosion of the Terra stablecoin caused $60bn to vanish within a few days. The 6th contemplates the events that led to the implosion of Sam Bankman-Fried’s crypto exchange FTX, once valued at $32bn, after a meteoric 4yr rise.
Blockchain: A Hype or a Hoax? fills a gap in the book market to provide material that is not only technical but also caters to business readers. This book was written to keep in mind various stakeholders and the current gap in blockchain education as well as use case implementation. This book reviews blockchain technology, discusses why proof of concept fails, offers examples of use cases that have been successful and that have failed and articulates a framework that should be used before deciding whether blockchain is the right technology for transformation. It uses strategic models and frameworks to assist organisations to see a fit score for their specific use cases. This book provides guidance on how to create a blockchain strategy and a business case to pitch for the budget. It also includes a case study to apply the knowledge on practical use cases for blockchain and a technical overview of most of the blockchain use cases in the market including crypto, non-fungible tokens, decentralised finance, and decentralised autonomous organisations, as well as financial and non-financial industry use cases. This book also provides a detailed overview of most of the mainstream blockchain products currently available in the market. It also offers guidance on how readers can best educate themselves on blockchain technology that is available through commercial and free resources. It concludes with a clear direction on selecting blockchain to solve real-life use cases that are best fit. A financial and non-financial value-adding framework is discussed throughout this book to assist business leaders, programme managers, product managers and information technology leaders to make strategic choices, and business cases and develop strategies for digital transformation through the use of blockchain. The distinctive feature of this book is the critical analysis of blockchain from a technology and business perspective. This is the first book to focus on business, technology and blockchain selection framework. The most unique feature of this book would be to apply Michael Porter’s competitive advantage strategy theory on blockchain use cases and their impact on companies. This book is aimed at technology students, technology professionals, blockchain and fintech consultant and business leaders. It will also be useful for readers who are building a business case to adopt blockchain into an organisation or are seeking to grow their knowledge of blockchain and improve their fintech strategy.
A fun and authoritative guide to bitcoin and the future of money In Catching Up to Crypto: Your Guide to Bitcoin and the New Digital Economy, celebrated crypto and Bitcoin expert Ben Armstrong delivers an exciting and fresh new exploration of Bitcoin and digital currencies. He explains what Bitcoin is, how it works, and how and why we’re all transitioning to a digital economy as we speak. He discusses the deficiencies of traditional fiat currency, how it’s commonly manipulated, and how we can all benefit from the adoption of new, digital assets. In the book, you’ll discover how Bitcoin operates in the real-world and how the underlying technology—known as the blockchain—operates. You’ll also learn about: The importance of decentralization, trust-less commerce and cryptographic consensus. The humble origins of Bitcoin, as well as how it nearly died out, and how it went on to take over the world How monetary and financial policy is being revolutionized by the introduction of Bitcoin and other crypto-assets. An essential and engaging review of Bitcoin, digital assets, and the new digital economy, Catching Up to Crypto is the hands-on and comprehensive introduction to crypto that investors, enthusiasts, the crypto-curious, and finance professionals have been waiting for.
A straightforward, practical guide to the newest frontier in investment strategy—crypto—from #1 New York Times bestselling author and personal finance expert Ric Edelman. Blockchain and bitcoin are here to stay—and as the Bank of England stated, this new technology could “transform the global financial system.” No wonder PWC says blockchain technology will add $2 trillion to the world’s $80 trillion economy by 2030. Indeed, blockchain technology and the digital assets it makes possible are revolutionary, the most profound innovation for commerce since the invention of the internet. And yet, the average investor—and the investment advisors who manage two-thirds of all their money—aren’t aware of all this, or of the incredible investment opportunities now available. Fortunately, Ric Edelman, one of the most influential experts in the financial field, shows investors how they can engage and thrive in today’s new investment marketplace. Featuring the prophetic insights you’d expect from one of most acclaimed financial advisors, The Truth About Crypto is fun to read and easy to understand—and most importantly gives readers the sound, practical advice we all need to succeed with this new asset class. Best of all, Edelman shows how blockchain works, the difference between digital currency and digital assets, and a comprehensive look at every aspect of the field. This book is a must-read guide if you want to achieve investment success today.
How the Coming Global Crash Will Create a Historic Gold Rush demonstrates the causal relationship between a deep economic crisis and a historical increase in the price of gold. Through the last years of his presidency, Jimmy Carter struggled with the legacy of the OPEC oil embargo causing large lines at the gas pump to pay surging gasoline costs. After the 1973 embargo, the price of oil quadrupled, forcing the United States into a deep recession that lasted into 1975. Gold surged during this period of stagflation, the unusual economic condition in which stagnant economic growth and high inflation coincide. In 1980, when Ronald Reagan was elected president, gold hit a high of $843/ounce. In 2008–2009, the collapse of the subprime mortgage market and the bursting of the real estate bubble caused a Great Recession in which prestigious financial institutions failed across the globe and serious investors poured their money into gold to maintain their total asset value. In 2010, gold’s price hit a high of $1,426/ounce. In the wake of the economic collapse caused by the COVID-19 lockdown, gold hit a yearly high of $2,058.40 in 2020, on the way to an all-time high of $2,074.60 on March 8, 2022. The global economy faces an economic meltdown in 2023, the magnitude of which we have not seen since the Great Depression in the 1930s. When the bubble in hedge funds and derivative contracts bursts, financial institutions worldwide will have to absorb billions and possibly even trillions of dollars in losses, an amount of money almost inconceivable in any other era of global financial history. In this book, Dean Heskin and Jerome R. Corsi explain the reality of 2022–2023: the dollar may collapse, and mounting unemployment and plummeting property values may accelerate the near disappearance of the middle class. In the dystopian world we are entering, gold and silver may be the only “money” that will hold its value.
She met the man of her dreams and suddenly had it all. Then, in one fateful night, she lost everything, and the nightmare began Jennifer Robertson was working hard to build a life for herself from the ashes of her first marriage. Still only twenty-six, she swiped right on a dating app and met Gerry Cotten, a man she would not normally have considered—too young and not her type—but found she’d met her match. Eccentric but funny and kind, Cotten turned out to be a bitcoin wizard who quickly amassed substantial wealth through his company, Quadriga. The couple travelled the world, first class all the way, while Cotten worked on his multitude of encrypted laptops. Then, while the couple was on their honeymoon in India, opening an orphanage in their name, Gerry fell ill and died in a matter of hours. Jennifer was consumed by grief and guilt, but that was only the beginning. It turned out that Gerry owed $250 million to Quadriga customers, and all the passwords to his encrypted virtual vaults, hidden on his many laptops, had died with him. Jennifer was left with more than one hundred thousand investors looking for their money, and questions, suspicions and accusations spiralling dangerously out of control. The Quadriga scandal touched off major investment and criminal investigations, not to mention Internet rumours circulating on dark message boards, including claims that Gerry had faked his own death and that his wife was the real mastermind behind a sophisticated sting operation. While Jennifer waited for a dead man’s switch e-mail that would probably never come, it became clear that Cotten had gambled away about $100 million of the funds entrusted to him for investment in his many schemes, leaving Robertson holding the bag. Bitcoin Widow is Catch Me If You Can meets a widow betrayed, a life of fairy-tale romance and private jets torched by duplicity, as Jennifer Robertson tries to reset her life in the wake of one of the biggest investment scandals of the digital age.
