Netflix Orders The Altruists Series on FTX Collapse

Netflix has given the green light to an eight-episode limited series titled The Altruists, which will dramatize the collapse of the crypto exchange FTX and the downfall of its co-founder, Sam Bankman-Fried. The series is produced under the banner of Barack and Michelle Obama’s Higher Ground production company. The narrative will chart FTX’s meteoric rise to a peak valuation of thirty-two billion dollars in January 2022, the exposure of the customer shortfall, and Bankman-Fried’s eventual conviction in March 2024.

The series will star Julia Garner, a three-time Emmy winner, as Caroline Ellison, the former chief executive of Alameda Research. Garner is known for her roles in Ozark and Inventing Anna. Anthony Boyle will portray Sam Bankman-Fried, who was recently sentenced to twenty-five years in US federal prison. The narrative will also explore the brief romance and professional partnership between Bankman-Fried and Ellison, whose shared belief in effective altruism framed their actions as ostensibly mission-driven even as fraud mounted.

There is significant interest in how Sam Bankman-Fried will be portrayed in the series. The title, The Altruists, suggests that he may be depicted as a flawed altruist, but it remains to be seen whether he will be shown as a criminal mastermind or a flawed individual driven by a desire to do good. The series will delve into the complexities of his character and the events leading up to the collapse of FTX.

The creative team behind the series includes Oscar-winning screenwriter Graham Moore, known for The Imitation Game, and veteran showrunner Jacqueline Hoyt, who has worked on The Good Wife. The pilot episode will be directed by James Ponsoldt, whose reputation for character-driven storytelling aligns with the project’s ambition to balance boardroom tension with personal drama. Filming is scheduled to take place from July to October 2025 in Vancouver, Canada, with a likely premiere in 2026.

Location scouts are finalizing Vancouver stand-ins for FTX’s former Nassau headquarters and crypto conference venues. The writers’ room will convene in June, and an initial outline is said to emphasize the tension between philanthropic intent and unchecked hubris. The series is expected to provide a comprehensive look at the rise and fall of FTX, offering insights into the personal and professional dynamics that led to its collapse.