Netflix is stepping into the world of cryptocurrency with an upcoming limited series developed by Barack and Michelle Obama’s Higher Ground Productions. The show, titled The Altruists, will explore the dramatic rise and fall of the FTX crypto exchange and its controversial founder, Sam Bankman-Fried.
The series will delve into the lives of Bankman-Fried and Caroline Ellison, who was both his business partner and romantic interest. According to the official synopsis, it will depict “two brilliant and ambitious young idealists who set out to transform the global financial system overnight, ultimately leading each other into misappropriating $8 billion.”
Northern Irish actor Anthony Boyle is set to portray Bankman-Fried, while American actress Julia Garner will take on the role of Ellison. The show will have eight episodes and will be co-led by Graham Moore, known for his screenplay in The Imitation Game, and Jacqueline Hoyt, an executive producer of The Underground Railroad. James Ponsoldt, director of The Circle and Shrinking, will helm the project.
Graham Moore expressed his excitement about the series, stating, “For nearly three years, Sam and Caroline’s story has consumed my thoughts. I’m incredibly thankful to everyone at Netflix and Higher Ground for sharing in my vision.”
FTX, once a major player in the cryptocurrency industry with numerous celebrity endorsements, abruptly collapsed in late 2022 after a surge of customer withdrawals exposed a staggering $8 billion shortfall in customer funds. Bankman-Fried, a prominent advocate for “effective altruism” who contributed significantly to political campaigns, was convicted in November 2023 on multiple counts of fraud and conspiracy. He received a 25-year prison sentence and was ordered to forfeit $11 billion in assets.
Ellison, who served as CEO of the hedge fund Alameda Research and was a key witness for the prosecution against Bankman-Fried after her own guilty plea, will also be a central figure in the series.
This project marks Garner’s return to Netflix after her acclaimed performance as scam artist Anna Delvey in Inventing Anna. She previously won three Emmys for her role in Ozark. Boyle’s recent credits include Say Nothing and Masters of the Air.
The Altruists is one of several adaptations recounting this high-profile financial saga. Lena Dunham is currently working on a film for Apple based on Michael Lewis’s bestseller Going Infinite, while Amazon Prime is developing its own limited series from the Russo brothers. Additionally, various documentaries are in production, including one by Vice Media and another from Fortune focused on the relationship between Bankman-Fried and Binance CEO Changpeng “CZ” Zhao. Bloomberg previously aired a special titled Ruin: Money, Ego & Deception at FTX, further exploring this compelling story.
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