Netflix Greenlights FTX Drama ‘The Altruists,’ Produced by the Obamas

Netflix is taking a swing at crypto history with The Altruists, a limited series dramatizing the meteoric rise and collapse of crypto exchange FTX and its founder, Sam Bankman-Fried. The series is being developed by Barack and Michelle Obama’s production company, Higher Ground, and will star Anthony Boyle as Bankman-Fried and Julia Garner as Caroline Ellison, the former CEO of Alameda Research.

Set across eight episodes, The Altruists promises to explore the high-stakes world of cryptocurrency, effective altruism, and financial ambition turned scandal. According to the show’s logline, the story follows “two hyper-smart, ambitious young idealists who tried to remake the global financial system in the blink of an eye—only to seduce, coax, and tease each other into stealing $8 billion.”

A High-Profile Creative Team

The series is led by Graham Moore, Oscar-winning writer of The Imitation Game, and Jacqueline Hoyt, executive producer of The Underground Railroad. James Ponsoldt (The Circle, Shrinking) is set to direct.

“For nearly three years now, Sam and Caroline’s story has been my daily obsession,” Moore said in a statement to Netflix’s Tudum. “We can’t wait to show all of you why.”

From Crypto Giant to Criminal Trial

FTX, once considered a pillar of the crypto industry with celebrity endorsements and a $32 billion valuation, collapsed in late 2022. The fallout exposed a massive hole in customer funds and triggered one of the biggest scandals in the industry’s short history.

Sam Bankman-Fried was convicted in 2023 on seven counts of fraud and conspiracy and sentenced to 25 years in prison, forfeiting $11 billion in assets. Caroline Ellison, his close associate and on-and-off girlfriend, cooperated with prosecutors after pleading guilty to multiple charges.

A Crowded Field of FTX Adaptations

The Altruists is one of several projects in development centered on the FTX saga. Apple and A24 have tapped Lena Dunham to write a feature film adaptation of Michael Lewis’s Going Infinite. Amazon is developing its own limited series with directors Joe and Anthony Russo.

Documentaries are also in the works, including projects from Vice Media, XTR, and Fortune. Each aims to examine different aspects of the fallout—from effective altruism to international regulation to the rivalry between Bankman-Fried and Binance CEO Changpeng “CZ” Zhao.

Netflix has not yet announced a release date for The Altruists, but the streaming platform appears ready to tap into public fascination with crypto, ambition, and the fragile line between innovation and fraud.