A number of movie initiatives concerning the downfall of the FTX crypto trade are within the works

It’s the aftermath of the GameStop saga yet again. The newest information stemming from the crypto trade FTX’s colossal downfall — and the large authorized cloud that now hangs over CEO Sam Bankman-Fried — is that Apple is near a deal for the rights to Michael Lewis’ forthcoming ebook about the entire messy affair.

The iPhone maker is rumored to be taking a look at a seven-figure deal to adapt the ebook right into a film for Apple TV Plus, one in all a number of movie and documentary initiatives within the works proper now about FTX, because it additionally faces nonstop information protection, lawsuits, and investigations. By my depend, there are a minimum of 4 such FTX-related movie initiatives in some stage of improvement in the intervening time, just like the mad scramble to launch movies and documentaries unpacking the Reddit-driven GameStop inventory story from 2021.

FTX information in the present day: A possible Apple TV Plus film

Lewis — the writer of Moneyball and The Huge Quick — is a monetary journalist and one-time bond salesman who embedded himself with Bankman-Fried for months as he wrote his ebook. Whether or not or not he noticed something untoward himself is one other story altogether.

Possibly, for instance, Lewis got here face-to-face with or heard about proof of misdeeds however selected to maintain again the particulars for his ebook. Or perhaps he noticed completely nothing in any respect, which would appear to name into query Lewis’ bona fides and whether or not he was merely embarking on company portraiture right here.

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Both approach, one Twitter consumer posting concerning the information referenced the primary journalist to essentially query the Enron story: “Don’t give a f–okay about Michael Lewis, have Bethany McLean inform the FTX story.”

Apple’s streamer already has a minimum of one title alongside these similar traces. It’s The Huge Conn, a form of real-life Higher Name Saul-story story a couple of small-town lawyer named Eric C. Conn (sure, that’s his precise identify), who was accused of defrauding the federal government out of hundreds of thousands of {dollars}.

Different movie initiatives and FTX developments

Separate from no matter FTX undertaking Apple decides to maneuver ahead with, there may be additionally an adaptation of a New York journal article about FTX’s collapse within the works from writer-director Graham Moore (the filmmaker behind The Imitation Recreation). At the very least two documentaries are additionally coming, one from a Vice Media partnership with The Info.

A photograph illustration of the FTX brand and cellular app. Picture supply: Photograph Illustration by Leon Neal/Getty Photos

By way of different FTX information and developments, the trade is now a goal of a minimum of one lawsuit accusing it of being primarily a Ponzi scheme. Federal investigations from the US Dept. of Justice and the Federal Commerce Fee are additionally wanting into what occurred, and a chapter continuing has additionally revealed stunning new particulars about what transpired behind the scenes.

For instance, Reuters stories that Sam Bankman-Fried’s mother and father and senior FTX executives purchased a minimum of 19 properties price almost $121 million within the Bahamas, the place FTX arrange its headquarters, official property data present.

An lawyer this week additionally advised a chapter decide that the trade was run as a “private fiefdom” of Bankman-Fried.

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