FTX Is Getting The Netflix Treatment: Here's What We Know So Far

• Netflix’s planned take on the FTX saga spotlights Sam Bankman-Fried and Caroline Ellison’s involvement in the effective altruism movement.
• Anthony Boyle and Julia Garner are set to star in the show.
• The show has a link to the Obamas.

The story of FTX’s rapid rise and stunning fall is heading to the world’s largest streaming service. Netflix NFLX announced last week the name of its planned limited series on what is widely considered one of the biggest financial fraud cases in history. 

Casting for the roles of disgraced FTX founder Sam Bankman-Fried and his on-and-off-again girlfriend and business partner, Caroline Ellison, were also confirmed.

Here’s what we know about the show so far.

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‘The Altruists’

The title, "The Altruists," is a nod to Bankman-Fried's and Ellison’s involvement in the effective altruism movement. Effective altruism is a philosophy that seeks to identify and act on the best way to do the most good based on empirical evidence. For Bankman-Fried, this meant making as much money as possible to give large sums to causes he supported.

Beyond giving to humanitarian causes, he donated heavily to politicians to influence policy in Washington while also nursing presidential ambitions. The catch? A significant portion of these donations were funded with customer funds.

Netflix said "The Altruists" is about “two hyper-smart, ambitious young idealists who tried to remake the global financial system in the blink of an eye — and then seduced, coaxed, and teased each other into stealing $8 billion.”

An Obama Family Production

“The Altruists” is set to be produced by Higher Ground Productions, founded by Barack Obama and Michelle Obama, Netflix said. 

“The Imitation Game” screenplay writer Graham Moore and “The Good Wife” producer Jacqueline Hoyt will serve as co-showrunners. 

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“For nearly three years now, Sam and Caroline’s story has been my daily obsession,” Moore told Netflix companion site Tudum. “I’m so grateful to my friends at Netflix and Higher Ground for loving this story not only as much as I do, but in the same way that I do. And we can’t wait to show all of you why.”

The series is expected to have eight episodes, with Variety reporting that filming is scheduled to start this summer.

Leading Actors Confirmed

Anthony Boyle is set to star as Bankman-Fried, while Julia Garner plays Ellison. Garner will also executive produce the show.

Boyle’s recent TV roles include “Say Nothing” at FX, Apple TV+'s “Manhunt” and “Masters of the Air” and Disney+'s “Shardlake.” He has also starred in the films “Tetris” and “Tolkien.”

Garner is best known for her role in the hit Netflix series “Ozark,” which earned her three Emmy nominations and wins for best supporting actress in a drama.

FTX, at its peak, was the second-largest cryptocurrency exchange by volume, with a valuation of approximately $32 billion. The exchange collapsed in November 2022 amid revelations of fraud and gross mismanagement. Bankman-Fried and Ellison were convicted on multiple counts of fraud and money laundering in 2023 and are both currently serving prison sentences.

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