Netflix releases trailer for The Altruists, a series about the rise and fall of FTX
Netflix has released the trailer for The Altruists, an eight-episode series about the events that led to the collapse of the FTX crypto exchange. All episodes will premiere on November 19, 2026.
The story centers on former FTX CEO Sam Bankman-Fried and Caroline Ellison, who ran FTX’s affiliated trading firm Alameda Research. They will be played by Anthony Boyle (House of Guinness) and Julia Garner (Inventing Anna). The showrunners and executive producers are Graham Moore (The Imitation Game) and Jacqueline Hoyt (Underground).
How FTX collapsed
FTX ran into liquidity problems in early November 2022. Bankman-Fried tried to raise $6–8 billion and negotiated a sale of part of the business to Binance. But after due diligence and reports of misused customer funds, Binance walked away from the deal.
On November 11, FTX filed for bankruptcy in the US. The next day, media reported that at least $1 billion was missing from the exchange. It later emerged that the company didn’t even have proper accounting, and expenses were approved with emoji reactions in a messaging app.
On December 12, Bankman-Fried was arrested in the Bahamas at the request of the US, and he agreed to extradition. Two former executives of FTX and Alameda, including Ellison, struck plea deals with prosecutors.
In January 2024, FTX’s new management dropped plans to relaunch the exchange and chose to liquidate its assets to repay customers. In March of that year, a court sentenced Bankman-Fried to 25 years in prison for fraud and conspiracy.
Ellison was the prosecution’s key witness. Media also described her as Bankman-Fried’s ex-girlfriend. She was sentenced to two years in prison and was released in early 2026.
