Netflix has officially given the green light to an exciting new limited series titled "The Altruists", which will delve into the dramatic downfall of the eight-billion-dollar crypto exchange FTX and its co-founder, Sam Bankman-Fried. The show, produced by Barack and Michelle Obama’s Higher Ground banner, will feature Julia Garner, a three-time Emmy winner, in the role of former Alameda Research CEO Caroline Ellison, and Anthony Boyle as Sam Bankman-Fried.
The narrative of "The Altruists" will take viewers on a journey through FTX’s rapid rise to a valuation of thirty-two billion dollars in January 2022, the revelation of a customer shortfall, and Bankman-Fried’s eventual conviction in March 2024. The series will also explore the complex relationship between Bankman-Fried and Ellison, shedding light on their shared belief in effective altruism and how their actions, although initially framed as mission-driven, ultimately led to fraud.
One of the most intriguing aspects of the show will be how Sam Bankman-Fried is portrayed. Will he be depicted as a flawed altruist, as the title suggests, or as a mastermind intent on defrauding investors and the crypto community? Additionally, Higher Ground, as the production company behind the series, may need to navigate the political ties of its founders, especially considering Bankman-Fried’s bipartisan campaign donations.
Here’s what we know so far about "The Altruists":
Casting:
- Anthony Boyle ("Masters of the Air") will portray Sam Bankman-Fried, who has recently been sentenced to twenty-five years in a US federal prison.
- Julia Garner ("Ozark", "Inventing Anna") will take on the role of Caroline Ellison, who cooperated with prosecutors and received a two-year sentence.
Creative Team:
- The show will be led by Oscar-winning screenwriter Graham Moore ("The Imitation Game") and showrunner Jacqueline Hoyt ("The Good Wife").
- The pilot episode will be directed by James Ponsoldt ("The Spectacular Now"), known for his character-driven storytelling.
Production Timeline:
- Filming is scheduled to take place from July to October 2025 in Vancouver, Canada.
- The series is expected to premiere in 2026, aligning with Netflix’s existing true-crime lineup.
Key Numbers:
- $8 billion in misused customer funds.
- $32 billion peak valuation at FTX’s Series C round.
- 25 years is Bankman-Fried’s sentence.
- 2 years is Ellison’s sentence.
- 8 episodes have been commissioned by Netflix.
With the casting confirmed and pre-production in full swing, the production team is working on finalizing locations in Vancouver to recreate FTX’s former headquarters and crypto conference venues. The writers’ room is set to convene in June, focusing on the tension between philanthropic intentions and unchecked hubris.
As the anticipation for "The Altruists" continues to build, viewers can look forward to a gripping and thought-provoking exploration of one of the most significant events in the world of cryptocurrency and finance. Stay tuned for more updates on this highly anticipated series.