Unpacking the crypto rollercoaster with Cryptomania author Andrew Chow

The world of crypto has often been equated with the Wild West - an untamed frontier, where the pioneers need to be ready and open to the many perils in waiting but also to the possibilities of striking gold, both metaphorically and literally. 

In crypto this can be seen through volatile price hikes and the subsequent dips of leading currencies, hype cycles of memecoins and NFTs, and the rise and fall of iconic market players such as the former cryptocurrency exchange FTX.

In the latest episode of "Decentralized with Cointelegraph," TIME magazine technology and business journalist Andrew Chow joins us to break down all of the industry’s Wild West-isms ahead of the release of his eagerly anticipated first book, Cryptomania, which is set to hit the shelves in August 2024.

"Cryptomania" promises to guide readers through the origins and workings of cryptocurrency, the frenzy of its numerous hype cycles, and the dramatic collapse of the FTX empire.

Chow offers a thought-provoking glimpse into the future of crypto, weighing its potential for both groundbreaking innovation and significant risk.

Origins of crypto

Chow is no stranger to exploring the intersections of these domains, having penned five cover stories for TIME, including deep dives into the artificial intelligence (AI) corporate arms race and a comprehensive profile of Vitalik Buterin, the visionary co-founder of Ethereum.

His passion for the intersection of technology and culture eventually led him to explore the revolutionary world of blockchain and non-fungible tokens (NFTs). Hear about his early experiences with the Clubhouse app, where vibrant discussions about NFTs in late 2020 sparked his deep dive into the myriad applications of blockchain technology.

“I was very intrigued and really wanted to learn more. So I started with the cultural aspect of it.”

Industry implications

Chow and Decentralize host, Savannah Fortis, also touch on the societal implications of blockchain technology itself and the potential it holds to influence areas like politics and supply chain management.

In the same line of thought, Chow also touches on the challenges the industry faces and the lessons learned from the spectacular rise and fall of various projects, like FTX. He called the crypto world “starving for main characters” which allowed for individuals like Sam Bankman-Fried and CZ to “rise really fast” on crypto internet spaces like Twitter.

“I think this is a sort of thread we're seeing right now with crypto's political valence tilting towards Trump right now.”

Chow’s outside insights into the space seek to breakdown its Wild West front, in order to understand what the future may hold for crypto.

To learn more about Cryptomania and Chow’s understanding of the crypto space, listen to the full episode of Decentralize with Cointelegraph on Cointelegraph’s podcast page, Spotify, Apple Podcasts or your podcast platform of choice. Don’t forget to check out Cointelegraph’s full lineup of other shows!