Netflix has officially given the green light to a dramatic series that delves into the meteoric rise and catastrophic fall of cryptocurrency exchange FTX. At the heart of this story are two central figures: Sam Bankman-Fried and Caroline Ellison, whose intertwined lives became a global spectacle.
The series, titled The Altruists, promises to unravel the complex narrative of how these two brilliant yet ambitious young idealists attempted to revolutionize the global financial system almost overnight. However, their journey took a darker turn as they allegedly conspired together, ultimately leading to the theft of $8 billion. The role of Caroline Ellison will be portrayed by the critically acclaimed Julia Garner, while Anthony Boyle will step into the shoes of Sam Bankman-Fried.
Co-showrunners Graham Moore (The Imitation Game, The Outfit) and Jacqueline Hoyt (The Leftovers, The Underground Railroad) will helm the project, with James Ponsoldt (Shrinking) set to direct. Produced under Barack and Michelle Obama’s Higher Ground Productions—exclusive partners with Netflix—the series aims to explore not just the financial scandal but also the human drama behind it.
“Sam and Caroline’s story has consumed me for nearly three years,” shared Moore. “I am deeply grateful to my collaborators at Netflix and Higher Ground for sharing my passion for this tale—not only in its magnitude but in its intricate emotional layers. We can’t wait to share why this story resonates so profoundly.”
In late 2022, FTX collapsed following a massive withdrawal rush that exposed an $8 billion discrepancy in its accounts. By November 2023, Bankman-Fried was convicted on seven counts of fraud and conspiracy. Meanwhile, Ellison, who served as co-CEO of Alameda Research—a hedge fund closely linked to FTX—and was once Bankman-Fried’s partner, testified against him after pleading guilty to separate charges.
For fans of Julia Garner, The Altruists marks her return to Netflix, where she earned three Emmy Awards for her stellar performance in Ozark and received additional recognition for Inventing Anna. Her next big screen appearance will be as the Silver Surfer in Marvel’s The Fantastic Four: First Steps, releasing in theaters this July.
Anthony Boyle, known for his work in FX’s Say Nothing and Apple’s Masters of the Air and Manhunt, adds another high-profile role to his repertoire with this project.
Alongside Moore, Hoyt, and Ponsoldt, executive producers include Vinnie Malhotra and Jessie Dicovitsky from Higher Ground, Scoop Wasserstein representing New York Magazine/Vox Media Studios, Tonia Davis, Lauren Morelli, and Garner herself.
This adaptation is one among several TV and film projects exploring the enigmatic world of Sam Bankman-Fried and FTX. Notably, Lena Dunham is penning a feature film for Apple and A24, while Amazon Prime Video commissioned a limited series from Joe and Anthony Russo’s AGBO and writer David Weil shortly after FTX's collapse. On the documentary front, Mark Wahlberg’s Unrealistic Ideas and Fortune magazine are collaborating on a project, complemented by Bloomberg's own take on the company's downfall.
