Avenger’s Russo Brothers to Produce FTX Miniseries for Amazon

Ulung Suseno . November 25, 2022


Picture: forbes.com


Techspace - Amazon has commissioned the producers of Marvel's "Avengers" franchise, the Russo Brothers, to create a miniseries about the demise of the cryptocurrency exchange FTX. 


According to the movie industry publication Variety, the eight-episode series will be produced by Joe and Anthony Russo under their production firm ABGO. Joe and Anthony Russo are the filmmakers behind Netflix's "The Gray Man," "Avengers: Infinity War," and "Avengers: Endgame." The Russo brothers are also in discussions to executive produce and helm the series.


David Weil, whose past works include Apple TV+'s Invasion and the Amazon series Hunters and Solos, will pen the series. It will be released based on "insider reporting" from several unidentified journalists who have covered the FTX scandal and its founder and former CEO, Sam Bankman-Fried. 


Read also: FTX Bankruptcy: 'No Amounts' to SBF or His Inner Circle


The Russo brothers labeled Bankman-Fried "an extremely mysterious figure with complex and potentially dangerous motivations." They described the collapse of FTX as "one of the most brazen frauds ever committed."


According to Variety, "several Marvel actors" have been negotiating for parts in the program. Other executive producers on the show, in addition to the Russos, are Natalie Laine Williams, Mike Larocca, Angela Russo-Otstot, and Scott Nemes from AGBO.


The FTX’s Downfall

After the renowned cryptocurrency exchange FTX collapsed earlier this month, Sam Bankman-Fried, the company's former CEO, has been the subject of extensive media coverage worldwide.


Earlier, Coindesk published a report on the worrying financial situation of Bankman-trading Fried's company Alameda Research, which was closely linked to the exchange. Following a series of events brought on by the story, Binance CEO Changpeng "CZ" Zhao announced plans to sell FTX's native token FTT, which it had acquired as part of an investment exit from the company.


The action caused a bank run on FTX, undermined the faith of individual investors, and revealed improper exploitation of FTX customers' data. By agreeing to be acquired by Binance, FTX's primary opponent at the time, Bankman-Fried, attempted to save the company. He and his company have come under regulatory scrutiny recently. Binance withdrew from the agreement after determining that FTX had made a massive hole in its financial sheet. Within a few days, FTX filed for bankruptcy, and Bankman-Fried resigned as CEO.


In the wake of this upheaval, Bankman-Fried granted a Vox reporter an interview via direct messages on Twitter in which he criticized regulators, expressed sorrow about declaring bankruptcy, and walked back many of the long-held beliefs he had presented to the public about himself. Since then, reports have revealed that FTX used corporate cash to buy workers' homes and owes the top 50 creditors more than $3 billion.


Next week, Bankman-Fried will talk at the Dealbook summit, so we'll learn more about what's happening with FTX then.


Hollywood

Less than a week passed before FTX collapsed. Panicked investors started pulling money out of FTX in large amounts when rival cryptocurrency exchange Binance started dumping its holdings of the FTT exchange tokens from FTX as a result of undefined "reveals." Only a few days later, FTX filed for bankruptcy.


Theranos founder Elizabeth Holmes, recently given an 11-year prison sentence for fraud, was portrayed by Amanda Seyfried in Hulu's "The Dropout," and WeWork founders Adam and Rebekah Neumann were recently portrayed by Jared Leto and Anne Hathaway in Apple's "WeCrashed." Several other works have already been produced by the entertainment industry that center on troubled entrepreneurs and their businesses.


Hollywood has yet to pay much attention to the cryptocurrency business up to this point, but that is about to change as many projects based on the spectacular rise and fall of Bankman-Fried and FTX are already developing. 


The rights to Michael Lewis' book on FTX are reportedly close to being purchased by Apple, according to a report published earlier this week in the trade publication The Hollywood Reporter. According to a statement distributed by his agency CAA, Lewis, the author of "The Big Short," "Moneyball," and "Flash Boys," spent six months "traveling with and interviewing Sam Bankman-Fried" for the book.


Non-fiction studio XTR is reportedly working on a documentary currently in production in the Bahamas, where FTX's headquarters are, according to The Hollywood Reporter. Several non-fiction projects based on the collapse of FTX are also being hurriedly put into production. The Information and Vice Media are collaborating to create a rival documentary.



The Bahamas Transfer FTX's Bankruptcy To Delaware

FTX Bankruptcy: 'No Amounts' to SBF or His Inner Circle

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