The FTX saga and the developments that led to the crypto alternate’s collapse will likely be framed in a brand new documentary specializing in the risky relationship between Sam Bankman-Fried and one in every of his fiercest critics, Binance founder Changpeng Zhao.
In accordance to The Hollywood Reporter, the manufacturing is a partnership between media outlet Fortune and Unrealistic Concepts, a non-scripted manufacturing firm co-founded by American actor Mark Wahlberg, Stephen Levinson and Archie Gips.
“The tumultuous relationship between SBF and CZ has performed out to a sure extent in articles and on Twitter, however this definitive documentary will give individuals a 360-degree private take a look at the whole FTX saga,” Fortune editor-in-chief Alyson Shontell stated in an announcement shared with Cointelegraph.
The documentary will concentrate on how Bankman-Fried, born right into a outstanding tutorial household with political connections, and Zhao, whose household fled from China to Canada when he was 12, got here to be two of essentially the most related figures within the crypto area, and the way their relationship alternated between being allies and rivals.
For a quick recap, Zhao was on the epicenter of FTX’s dramatic collapse. Originally of November, the Binance CEO publicly disclosed plans to liquidate the corporate’s total place in FTX’s native token, FTT (FTT).
Associated: FTX debtors search subpoenas for internal circle of Sam Bankman-Fried
In keeping with CZ, the choice mirrored “post-exit threat administration” as a result of “current revelations” round FTX. On the time, he additionally argued that Binance “gained’t assist individuals who foyer towards different trade gamers behind their backs.”
FTX skilled an enormous financial institution run because of CZ’s feedback. Zhao’s transfer was essential to additional investigations concerning FTX’s administration of funds with its sister firm, Alameda Analysis.
One other noteworthy second within the relationship between the crypto entrepreneurs got here to mild on Dec. 14. In a listening to earlier than a United States Senate committee, investor Kevin O’Leary offered particulars about conversations with Bankman-Fried within the days earlier than FTX filed for chapter.
O’Leary stated on the listening to that “these two [SBF and CZ] in an unregulated market […] with this unbelievable enterprise by way of development had been at battle with one another, and one put the opposite out of enterprise, deliberately.”
The rise and fall of Bankman-Fried’s crypto empire are the matters of a number of movie tasks. As reported by Cointelegraph, Amazon’s video streaming service Prime is producing an eight-episode restricted collection in regards to the scandals behind the crypto alternate. Additionally, writer and monetary journalist Michael Lewis, recognized for his e-book The Large Quick, had spent six months with Bankman-Fried earlier than FTX’s implosion for a forthcoming e-book and has reportedly bought the movie rights to Apple.
