As per recent information, Apple and A24 have expressed their plan to make a film about Sam Bankman Fried, the founder of FTX. On November 12, 2024, Variety reported that Lena Dunham, a known writer and director will write this film for the production.
Additional information states that the movie will be inspired by ‘Going Infinite,’ a popular book written by Michael Lewis; however, Lena will write the screenplay. The book will include all events from its origin to collapse and a detailed portrayal of Sam Bankman Fried.
Apple the technological giant has bought the rights to ‘Going Infinite: The Rise and Fall of a New Tycoon a book’, available information notes that the deal was valued at $5 million which surpassed the deal of the Harry Potter series which was sold for $2 million.
Several leading OTT platforms such as Amazon and Netflix including others have been closely working on their series and movies based on the FTX collapse and other unprecedented events in the cryptocurrency market.
Blomberg has made a narrative documentary about Sam and FTX, the video length is 1 hour 47 minutes. The documentary by CNBC is titled “The Collapse Of FTX: Insiders Tell All.”
The Path of FTX From Profitability to Bankruptcy
FTX was officially launched in the first half of 2019 by Sam Bankman Fried and its founding members. In its early days the now-bankrupt cryptocurrency exchange focused on advertising and public relations, and by the end of 2020 and beginning 2021 FTX was among the leading exchanges in the crypto market.
Before founding FTX Sam was a professional trader famous for his predictions over the crypto market, which helped him to gain huge popularity in the initial days.
At the time of writing, Sam was behind bars over the proof of defrauding the investors, lenders, and investors of FTX.
During his good time, he was ranked 41st among the 400 richest Americans. When his net worth crossed the mark of $22 billion in the first half of 2022, the mark of false and wash trading was floating in the wider market.
After the sudden crash of the FTX empire, leading media outlets reported that some leading exchanges were partially involved in the demise of FTX.
The exchange had its native token which was named a FTT, which traded highest at $85.02 in its peak days. When writing it was trading below $2 at $1. 79 with an intraday decline of 12.81 percent.
A warning is displayed over CoinMarketCap that after FTX’s bankruptcy, the FTT token has no usage. A constant tumbling in the trading price has been observed and after every claim lawsuit by FTX, a spike is seen in the sequence.
Earlier on November 12, 2024, Todayq reported that the trading arm of FTX had filed a lawsuit against the founder of Waves in order to recover $90 million. The exchange has also filed a lawsuit against Binance and its former CEO and founder seeking over $1 billion.
