The FTX saga and the developments that led to the crypto alternate’s collapse might be framed in a brand new documentary specializing in the unstable relationship between Sam Bankman-Fried and one among his fiercest critics, Binance founder Changpeng Zhao.
Based on The Hollywood Reporter, the manufacturing is a partnership between media outlet Fortune and Unrealistic Concepts, a non-scripted manufacturing firm co-founded by American actor Mark Wahlberg, Stephen Levinson and Archie Gips.
“The tumultuous relationship between SBF and CZ has performed out to a sure extent in articles and on Twitter, however this definitive documentary will give individuals a 360 diploma private take a look at all the FTX saga,” famous Fortune editor-in-chief Alyson Shontell in an announcement shared with Cointelegraph.
The documentary will deal with how Bankman-Fried, born right into a distinguished educational household with political connections, and Zhao, whose household fled from China to Canada when he was 12, got here to be two of probably the most related figures within the crypto house, and the way their relationship alternated between being allies and rivals.
For a short recap, Zhao was on the epicenter of FTX’s dramatic collapse. In the beginning of November 2022, the Binance CEO publicly disclosed plans to liquidate the corporate’s whole place in FTX’s native token, FTT (FTT).
Associated: FTX debtors search subpoenas for internal circle of Sam Bankman-Fried
Based on CZ, the choice mirrored “post-exit threat administration” because of “latest revelations” round FTX. On the time, he additionally argued that Binance “received’t assist individuals who foyer in opposition to different trade gamers behind their backs.”
FTX skilled an enormous financial institution run because of CZ’s feedback. Zhao’s transfer was essential to additional investigations concerning FTX’s administration of funds with its sister firm, Alameda Analysis.
One other noteworthy second within the relationship between the crypto entrepreneurs got here to mild on Dec. 14. In a listening to earlier than the US Senate committee, investor Kevin O’Leary offered particulars about conversations with Bankman-Fried within the days earlier than FTX filed for chapter.
O’Leary famous within the listening to that “these two [SBF and CZ] in an unregulated market […] With this unbelievable enterprise by way of development have been at battle with one another, and one put the opposite out of enterprise, deliberately.”
The rise and fall of Bankman-Fried’s crypto empire are the subjects of a number of movie initiatives. As reported by Cointelegraph, Amazon’s video streaming service Prime is producing an eight-episode restricted collection concerning the scandals behind the crypto alternate. Writer and monetary journalist Michael Lewis, identified for his e-book The Huge Quick, had spent six months with Bankman-Fried earlier than FTX implosion, and reportedly bought the e-book rights to Apple.