Amazon orders limited series about the FTX crypto exchange scandal

The Russo brothers are making a sequence for Amazon primarily based on the story of how FTX, which was as soon as one of the crucial well-known crypto exchanges, met such a swift and scandalous finish. In keeping with Selection, Amazon has authorised a restricted sequence adaptation with eight episodes and is trying to begin manufacturing by spring subsequent 12 months. David Weil, who beforehand labored with the Russo brothers of their Prime Video sequence Citadel, will write and govt produce the pilot episode. In the meantime, Anthony and Joe Russo, recognized for steering 4 Marvel Cinematic Universe films, are reportedly in talks of directing on prime of serving because the present’s govt producers. 

FTX filed for chapter final week after a sequence of occasions finally led to its collapse in a brief period of time. The change’s FTT tokens had plummeted in worth earlier this month after rival change Binance announced that it was going to promote its remaining FTTs attributable to “current revelations.” Just a few days earlier than Binance determined to liquidate all its FTTs, CoinDesk had reported that Alameda Analysis, the buying and selling agency that was based by then-FTX CEO Sam Bankman-Fried, was principally backed by FTT tokens. “The state of affairs provides to proof that the ties between FTX and Alameda are unusually shut,” CoinDesk wrote. Alameda had reportedly been having monetary points and was allegedly utilizing FTX prospects’ deposits to pay money owed.

Smaller traders and bizarre prospects additionally sought to get out upon smelling bother within the air and submitted requests for withdrawals, which prompted a liquidity difficulty. Binance initially agreed to bail out FTX by shopping for it however finally backed out of the deal. After that, FTX filed for chapter, and Bankman-Fried resigned as CEO. There’s much more to the story, together with the thriller of the place billions of {dollars} of lacking or stolen funds had gone, that the Russo brothers may embrace of their present. 

It is nonetheless unclear what supply materials the Russos are planning to make use of, however Selection says the present could possibly be primarily based on “insider reporting” by journalists who’ve been investigating the FTX scandal. They’re additionally reportedly in talks with a number of Marvel actors to play key roles within the sequence. Earlier than Amazon confirmed that it was engaged on a present primarily based on FTX, Deadline reported that Apple was near signing a seven-figure deal for the rights on a e book about Bankman-Fried and the crypto change that is being written by Michael Lewis. That is the identical creator behind Moneyball, The Huge Quick and The Blind Facet. Not like Amazon, Apple is reportedly planning to show Lewis’ e book right into a characteristic movie. 

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