Netflix is bringing the FTX scandal to scripted television with The Altruists, an eight-episode limited series centered on Sam Bankman-Fried and Caroline Ellison. The streaming company has released a new trailer featuring Julia Garner as Ellison and Anthony Boyle as Bankman-Fried ahead of the show’s November 19 premiere.
The series follows the relationship between the two former crypto executives as their ambitions grow alongside the businesses surrounding FTX and Alameda Research. Netflix’s official synopsis describes them as young, highly ambitious idealists who attempted to reshape the global financial system before being accused of stealing $8 billion.
Netflix Brings the FTX Collapse to Screen
Garner, known for Ozark and Inventing Anna, plays Ellison, the former Alameda Research CEO who became a central figure in the FTX case. Boyle portrays Bankman-Fried, the founder of FTX who became one of the most recognizable figures in the cryptocurrency industry before the exchange collapsed in 2022.
The new trailer focuses heavily on the personal relationship between the two characters. Rather than presenting the story solely as a financial scandal, the series explores how their relationship developed alongside the rapid growth of their businesses and eventually became intertwined with the decisions that led to the collapse.
The Altruists was created by Graham Moore, who serves as writer, showrunner and executive producer alongside co-showrunner and co-writer Jacqueline Hoyt. The series is inspired by reporting published by New York Magazine, giving the production a foundation in accounts of the people and events surrounding FTX.
Moore has said the series aims to examine how Bankman-Fried and Ellison viewed themselves and their ambitions. The production is therefore designed as a character-driven drama rather than a straightforward documentary reconstruction of the FTX collapse.
The cast extends beyond the two central characters. Alex Lawther plays Sam Trabucco, Karan Soni portrays Nishad Singh, Naomi Okada plays Claire Watanabe, Madison Hu portrays Constance Wang, Matt Rife plays Ryan Salame and Eugene Young portrays Gary Wang.
Other cast members include Paul Reiser as Joe Bankman, Robin Weigert as Barbara Fried, Jennifer Grey as Sara Fisher Ellison and Terry Chen as CZ. The large ensemble reflects the number of prominent figures connected to the FTX and Alameda story.
The FTX Story Gets a Dramatic Retelling
The real events behind the series became one of the biggest scandals in cryptocurrency. FTX, once a major global crypto exchange, collapsed in November 2022 after a liquidity crisis exposed serious problems involving the company’s finances and its relationship with Alameda Research.
Bankman-Fried was later convicted on seven fraud and conspiracy counts and sentenced to 25 years in prison. Ellison pleaded guilty to charges connected to the collapse, cooperated with prosecutors and later served a prison sentence.
Those legal outcomes form the backdrop for The Altruists, but Netflix’s production is focused on the people behind the headlines. The series examines the ambitions, relationships and decisions that preceded the collapse rather than simply recounting the courtroom proceedings.
The show’s title also reflects the tension at the center of its story. Its creators have described Bankman-Fried and Ellison as people who initially believed they were pursuing goals that could benefit others, while the decisions portrayed in the series ultimately led to severe consequences.
The production has also received backing from Higher Ground Productions, with Barack and Michelle Obama among the executive producers. James Ponsoldt directed the first episode, while Kyle Patrick Alvarez, Mairzee Almas, Moore and Silver Tree also directed episodes of the limited series.
For the cryptocurrency industry, the Netflix release could introduce the FTX collapse to a much broader audience years after the exchange’s failure. The scandal remains one of the defining events of the modern crypto market, and a scripted production offers viewers a different way to revisit the people and decisions behind it.
The Altruists will premiere on Netflix on November 19, with all eight episodes scheduled to become available. With Garner and Boyle leading the cast, the series is set to put one of crypto’s most consequential corporate collapses back into the mainstream conversation.
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