The FTX drama isn’t over yet – and Amazon wants a piece of it. The company is teaming up with Russo Brothers, best known for the Marvel movies, to do a show about the spectacular collapse of the giant cryptocurrency empire.
Amazon has partnered with the duo’s production house AGBO to make the show, which will go into production in the spring of 2023, Variety first reported. Amazon is also trying to tap the brothers to run the show, the report added.
The company confirmed the news in a statement and said “Hunters” creator David Weil will write the pilot.
“We are delighted to be able to continue our great working relationship with David, Joe, Anthony and the AGBO team with this compelling series of events. I can’t think of better partners to bring this multi-faceted story to our audience. Prime Video world,” Amazon Studios head Jennifer Salke said.
The Russos are also working with Amazon to create a multinational international spy series called “Citadel”.
“It is one of the most brazen frauds ever committed. It cuts across many sectors – fame, politics, academia, technology, crime, sex, drugs and the future of modern finance. “The Russos said of the upcoming show surrounding FTX in a statement. “At the center of it all is an extremely mysterious character with complex and potentially dangerous motivations. We want to understand why.
FTX and its former CEO Sam Bankman-Fried were at the center of media coverage around the world after the popular cryptocurrency exchange implosed earlier this month.
Coindesk earlier flagged worrying finances at Alameda Research, the trading company founded by Bankman-Fried and closely tied to the exchange. The report set off a series of events, culminating when Binance CEO Changpeng “CZ” Zhao disclosed his intention to sell FTX’s native FTT token he had received as part of an outflow. business investment.
The move shook the confidence of retail investors and sparked a rush on FTX and ended the fraudulent use of FTX customer data.
Bankman-Fried, who along with his company has been under regulatory scrutiny in recent weeks, tried to save FTX by signing a deal to be acquired by Binance, its main rival at the time. Binance pulled out of the deal after discovering that FTX had dug too deep a hole in its balance sheet. Within days, FTX filed for bankruptcy and Bankman-Fried stepped down as CEO.
In the aftermath of that chaos, Bankman-Fried gave a Vox reporter a direct message Twitter interview in which he criticized regulators and expressed regret over the bankruptcy filing and backtracked on many of the long-held beliefs that he had described about himself to the world. . Since then, reports have also surfaced that FTX was using corporate funds to buy homes. for employees and owes the top 50 creditors more than $3 billion.
Bankman-Fried is due to speak at the Dealbook Summit next week, so we might hear more about what’s going on with FTX soon.
All of this makes for a good TV, that’s for sure. It also helps that startup founders doing things have become a dormant hit of a genre in recent years, as evidenced by hits like “WeCrashed” (Apple TV+) on the WeWork fiasco and Adam Neumann’s “Dropout” ( Hulu) on the Theranos-Elizabeth Holmes saga, and “Super Pumped” (Showtime) on Uber led by Travel Kalanick. So Amazon wants to get a hit show centered around a controversial tech founder into its slate. But we could see more adoption of the FTX story.
Earlier this week, Deadline reported that buyers – including Apple – are looking to sign the yet-to-be-released book by acclaimed author Michael Lewis. Lewis – who has previously written hits that were later adapted into films such as ‘The Big Short’, ‘Moneyball’ and ‘The Blind Side’ – had closely followed Bankman-Fried for more than six months before the recent implosion .
Amazon’s show will be based on “insider reports” from various journalists who have covered the issue extensively, according to Variety.