'The Altruists': Netflix series on $8B FTX fraud is coming
What's the story
Netflix is set to explore the infamous FTX cryptocurrency exchange scandal with a new limited series titled The Altruists. The show will be produced by Barack and Michelle Obama's Higher Ground Productions and will delve into the rise and fall of FTX and its founder, Sam Bankman-Fried. Northern Irish actor Anthony Boyle has been cast as Bankman-Fried, while Julia Garner will portray his business partner, Caroline Ellison.
Series insights
'The Altruists' plot and production details revealed
The Altruists will explore the story of two ambitious young idealists who attempted to change the global financial system, only to end up stealing $8 billion from customers. The eight-episode series will be co-showrun by Graham Moore, known for The Imitation Game, and Jacqueline Hoyt, an executive producer on Prime Video's The Underground Railroad. James Ponsoldt, director of The Circle and Shrinking, is going to direct the series.
Series focus
'The Altruists' to explore FTX's downfall and Bankman-Fried's conviction
The Altruists will focus on the downfall of FTX, one of the world's most popular cryptocurrency exchange platforms, which collapsed in 2022, following a run on customer withdrawals that revealed an $8 billion shortfall. Bankman-Fried, who donated heavily to both political parties and is a proponent of "effective altruism," faced conviction in November 2023 on seven counts of fraud and conspiracy. He was sentenced to 25 years in prison and ordered to forfeit $11 billion in assets.
Key player
Ellison's role in the FTX scandal and her plea deal
Ellison, who was the CEO of FTX's sister hedge fund Alameda Research and Bankman-Fried's on-and-off girlfriend, became a key witness for the prosecution following a guilty plea on separate charges. The Altruists marks Garner's return to Netflix after her Emmy-winning role in Ozark and her portrayal as infamous scammer Anna Delvey in Inventing Anna.