Netflix is set to dramatize the rise and fall of cryptocurrency exchange FTX with a limited series titled 'The Altruists'. The eight-episode project is produced by Barack and Michelle Obama's Higher Ground Productions in association with New York Magazine/Vox Media Studios and is targeting a late 2026 release.
Cast and Characters
According to Netflix, Julia Garner (known for 'Ozark' and 'Inventing Anna') will star as Caroline Ellison, the former CEO of Alameda Research, while Anthony Boyle ('The Plot Against America') takes on the role of FTX founder Sam Bankman-Fried. Showrunners Graham Moore ('The Imitation Game') and Jacqueline Hoyt ('The Leftovers') are executive producing, with James Ponsoldt directing the pilot.
Plot Focus
Netflix's official description calls Bankman-Fried and Ellison “hyper-smart, ambitious young idealists” who attempt to revolutionize global finance but ultimately pull off an $8 billion fraud. The series will explore how they “seduce each other into stealing” the funds, delving into their professional and personal dynamics, including their relationship and ethical unraveling.
Real-World Context
In reality, Bankman-Fried was sentenced to 25 years in prison in 2024 for defrauding FTX customers and investors. Ellison, who cooperated with prosecutors, received a two-year sentence. The November 2022 collapse of FTX triggered billions in losses, marking one of the largest financial frauds of the decade. 'The Altruists' draws from extensive public records and legal proceedings to deliver a gripping account of ambition and downfall.
Production Notes
The series continues Netflix's tradition of true-crime dramas, emphasizing character-driven storytelling and ethical ambiguities in tech entrepreneurship. Garner, who won an Emmy for her role in 'Ozark' and recently portrayed real-life con artist Anna Sorokin in 'Inventing Anna,' continues her trend of playing figures entangled in financial crime. Production is underway with no exact premiere date confirmed.