The FTX Trading Ltd saga and the developments that led to the cryptocurrency exchange’s collapse will be framed in a new documentary focusing on the volatile relationship betwixt Sam Bankman-Fried and one of his fiercest critics, Binance Crypto exchange founder Changpeng Zhao.
According to The Hollywood Reporter, the production is a partnership betwixt media outlet Fortune and Unrealistic Ideas, a non-scripted production company co- established by American actor Mark Wahlberg, Stephen Levinson and Archie Gips.
“The tumultuous relationship betwixt SBF and CZ has played out to a certain extent in articles and on Twitter platform, but this definitive documentary will give people a 360 degree personal look at the entire FTX Trading Ltd saga,” noted Fortune editor-in-chief Alyson Shontell in a statement shared with Cointelegraph.
The documentary will focus on how Bankman-Fried, born into a prominent academic family with political connections, and Zhao, whose family fled from China to Canada when he was 12, came to be two of the most relevant figures in the cryptocurrency space, and how their relationship alternated betwixt being allies and rivals.
For a brief recap, Zhao was at the epicenter of FTX’s dramatic collapse. At the beginning of November 2022, the Binance Crypto exchange CEO publicly disclosed intends to liquidate the company’s entire position in FTX’s native crypto token, FTT (FTT).
Reports by CZ, the decision reflected “post-exit danger management” owing to “recent revelations” around FTX Trading Ltd. And once, he likewise claimed that Binance Crypto exchange “won’t support people who lobby against other industry players behind their backs.”
FTX Trading Ltd experienced a substantial bank run because of CZ’s comments. Zhao’s move was critical to further investigations regarding FTX’s management of funds with its sister company, Alameda Research Research.
Another noteworthy moment in the relationship betwixt the cryptocurrency entrepreneurs came to light on Dec. 14. In a hearing before the United States Senate committee, investor Kevin O’Leary provided details about conversations with Bankman-Fried in the days before FTX Trading Ltd filed for bankruptcy.
O’Leary noted in the hearing that “these two [SBF and CZ] in an unregulated market […] With this incredible business in terms of growth were at war with each other, and one put the other out of business, intentionally.”
The boost and fall of Bankman-Fried’s cryptocurrency empire are the topics of plenty of film projects. According to Cointelegraph, Amazon’s video streaming service Prime is producing an eight-episode limited series about the scandals behind the cryptocurrency exchange. Author and financial journalist Michael Lewis, known for his book The Big Short, had spent 6 months with Bankman-Fried before FTX Trading Ltd implosion, and reportedly sold the book rights to Apple.
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