The Russo brothers are making a collection for Amazon based mostly on the story of how FTX, which was as soon as some of the well-known crypto exchanges, met such a swift and scandalous finish. According to Variety, Amazon has authorized a restricted collection adaptation with eight episodes and is trying to begin manufacturing by spring subsequent 12 months. David Weil, who beforehand labored with the Russo brothers of their Prime Video collection Citadel, will write and govt produce the pilot episode. Meanwhile, Anthony and Joe Russo, recognized for steering 4 Marvel Cinematic Universe motion pictures, are reportedly in talks of directing on prime of serving because the present’s govt producers.
FTX filed for chapter final week after a collection of occasions finally led to its collapse in a brief period of time. The trade’s FTT tokens had plummeted in worth earlier this month after rival trade Binance introduced that it was going to promote its remaining FTTs as a consequence of “latest revelations.” A number of days earlier than Binance determined to liquidate all its FTTs, CoinDesk had reported that Alameda Research, the buying and selling agency that was based by then-FTX CEO Sam Bankman-Fried, was largely backed by FTT tokens. “The scenario provides to proof that the ties between FTX and Alameda are unusually shut,” CoinDesk wrote. Alameda had reportedly been having monetary points and was allegedly utilizing FTX prospects’ deposits to pay money owed.
Smaller traders and extraordinary prospects additionally sought to get out upon smelling bother within the air and submitted requests for withdrawals, which brought on a liquidity concern. Binance initially agreed to bail out FTX by shopping for it however finally backed out of the deal. After that, FTX filed for chapter, and Bankman-Fried resigned as CEO. There’s much more to the story, together with the thriller of the place billions of {dollars} of lacking or stolen funds had gone, that the Russo brothers might embrace of their present.
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It’s nonetheless unclear what supply materials the Russos are planning to make use of, however Variety says the present may very well be based mostly on “insider reporting” by journalists who’ve been investigating the FTX scandal. They’re additionally reportedly in talks with a number of Marvel actors to play key roles within the collection. Before Amazon confirmed that it was engaged on a present based mostly on FTX, Deadline reported that Apple was near signing a seven-figure deal for the rights on a e book about Bankman-Fried and the crypto trade that is being written by Michael Lewis. That’s the identical creator behind Moneyball, The Big Short and The Blind Side. Unlike Amazon, Apple is reportedly planning to show Lewis’ e book right into a characteristic movie.