Netflix unveils trailer for eight-part FTX collapse drama starting in November
Netflix has released a trailer for *The Altruists*, an eight-episode miniseries about the rise and collapse of cryptocurrency exchange FTX. The series, starring Anthony Boyle as Sam Bankman-Fried and Julia Garner as Caroline Ellison, begins streaming on 19 November.
FTX once handled about $10 billion in daily trading, but collapsed in 2022 after customers withdrew funds amid fears of a liquidity crisis. The collapse exposed an $8 billion shortfall in customer money; Ellison testified that Bankman-Fried directed her to use those funds for property, political donations and Alameda Research. Bankman-Fried was convicted of seven fraud and conspiracy counts in 2023 and sentenced to 25 years in prison; an appeals court later rejected his challenge to the conviction.
- Netflix’s *The Altruists* premieres on 19 November.
- The eight-episode series follows FTX’s rise and collapse.
- FTX’s collapse revealed an $8 billion customer-fund shortfall.
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FTX was a cryptocurrency exchange that became one of the world's largest trading platforms, processing about ten billion dollars in daily transactions. Sam Bankman-Fried founded the company and became a prominent figure in the cryptocurrency industry, known for political donations and philanthropic contributions.
The exchange collapsed in 2022 when customers rushed to withdraw their money amid concerns about its financial stability. An investigation revealed an eight billion dollar gap between what the company owed customers and the funds it actually possessed. Bankman-Fried directed Caroline Ellison, who managed a trading firm called Alameda Research, to use customer money for property, political donations and other purposes.
Bankman-Fried was convicted of fraud and conspiracy in 2023 and sentenced to 25 years in prison; an appeals court later upheld his conviction. The collapse destroyed billions of dollars in customer savings and became one of the most significant financial scandals in recent years.
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Originally published by Engadget as “Netflix releases trailer for its miniseries about Sam Bankman-Fried’s scandal-ridden crypto exchange”.