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Crypto Reporter
Shalini Nagarajan
Crypto Reporter
Shalini Nagarajan
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Apple Studios and film production company A24 are reportedly teaming up to produce a film about Sam Bankman-Fried, the infamous FTX founder.
Lena Dunham, co-creator and star of “Girls,” will adapt Michael Lewis’ book “Going Infinite: The Rise and Fall of a New Tycoon,” which tells the story of the convicted fraudster and his doomed cryptocurrency exchange, Variety reported Tuesday.
Bankman-Fried, once ranked as the 41st richest American, was found guilty of fraud this year. The son of Stanford law professors Joseph Bankman and Barbara Fried, he is now serving a 25-year sentence.
Sam Bankman-Fried Convicted of Fraud, Ordered to Forfeit $11B
In Nov. 2023, he was convicted on seven charges, including fraud, conspiracy, and money laundering, and ordered to forfeit $11b.
Before his trial in Manhattan, he was released on $250m bail and placed under house arrest at his parents’ Palo Alto home.
He orchestrated what is considered one of the biggest financial frauds ever. During his sentencing, he was portrayed as a cunning mathematical prodigy. He was portrayed as deliberately seeking power and influence, fully conscious of his illegal actions.
Apple Purchases Michael Lewis’ FTX Exposé for $5M
Lewis, known for his financial journalism, had exclusive access to Bankman-Fried before FTX’s collapse. Apple ultimately bought the rights to Lewis’ book for $5m. His previous works, such as “Moneyball,” “The Blind Side” and “The Big Short,” have also been adapted into films.
This film on FTX follows another Amazon series project about Bankman-Fried, announced in 2022.
Lewis spent significant time shadowing Bankman-Fried to understand the mastermind behind one of the era’s biggest financial scandals. He attended lavish events with the founder, including an exclusive FTX gathering in the Bahamas.
Lewis continued to observe Bankman-Fried during his house arrest in the US after his extradition from the Bahamas. He frequently visited him at his parents’ Palo Alto home. The former billionaire wore an ankle monitor during this time.
Further, Lewis has said he questioned Bankman-Fried about his apparent ignorance of the $8b in customer funds that were in his private fund. The founder dismissed the issue as a “rounding error,” claiming he viewed the sum as trivial and paid little attention to it.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
