Netflix has revealed details of the series The Altruists, about the collapse of FTX and the key figures behind its creation.
The script is built around Sam Bankman-Fried and Caroline Ellison, who, while building a crypto business and simultaneously managing affiliated entities, allowed the commingling of funds and risk exposure, ultimately leading to the collapse of the entire system. The series will depict their relationship and the management decisions within FTX and Alameda Research that resulted in a roughly $8 B shortfall in user funds.
Context
FTX collapsed in 2022 after a surge in customer withdrawals exposed a lack of liquidity and gaps in how assets were accounted for. This story became one of the most widely discussed cases in the crypto industry, including both DeFi and centralized exchanges, where the issue of fund segregation remains critical.
According to the creators, the series is intended as an attempt to capture the events surrounding FTX in the format of a dramatized retelling, aimed at a broad audience while remaining grounded in real episodes and individuals involved in the case.
Read Also: