Netflix previews FTX series on Bankman-Fried, Ellison

Netflix has released a trailer for an eight-episode series about the collapse of cryptocurrency exchange FTX. The story centers on Sam Bankman-Fried, FTX’s former chief executive, and Caroline Ellison, who led the exchange’s affiliated trading firm, Alameda Research. The series is scheduled to premiere Nov. 19.

Anthony Boyle portrays Bankman-Fried and Julia Garner portrays Ellison. Netflix described the series as focusing on the “love scorned prodigies behind the FTX scandal,” highlighting the personal and business relationship between the two executives.

In one scene, Garner’s character says, “Lying isn’t bad for a good cause.” The line echoes testimony Ellison gave during Bankman-Fried’s 2023 criminal trial. She told jurors that Bankman-Fried believed rules against lying and stealing did not always apply when pursuing effective altruism, a philosophy focused on maximizing charitable impact.

The trailer also mentions the idea that “going all-in every time is the mathematically optimal strategy.” The phrase relates to the high-risk decisions involving customer funds that preceded the collapse of FTX and Alameda.

Bankman-Fried, Ellison and other people connected to FTX and Alameda faced criminal charges after FTX collapsed and filed for bankruptcy in November 2022. Ellison pleaded guilty and testified against Bankman-Fried, who went to trial.

A jury found Bankman-Fried guilty on seven felony counts related to fraud. He was sentenced to 25 years in prison. As of October, he had pending requests for a presidential pardon from Donald Trump and for the U.S. Supreme Court to overturn his conviction. Ellison was released from federal custody in January.