Netflix Greenlights ‘The Altruists’: A Drama Based on the FTX Collapse
In a bold move that cements its reputation for dramatizing real-life financial scandals, Netflix has officially ordered “The Altruists”, a limited series chronicling the meteoric rise and catastrophic fall of cryptocurrency exchange FTX.
At the center of this gripping narrative is Julia Garner, cast as Caroline Ellison, the former CEO of Alameda Research and the ex-girlfriend of disgraced FTX founder Sam Bankman-Fried.
Julia Garner, a household name thanks to her Emmy-winning role in Ozark, brings her intense screen presence and nuanced acting to a role that demands both intellectual complexity and emotional depth.
Joining her is Anthony Boyle, who will portray Sam Bankman-Fried, a tech wunderkind turned convicted felon.
The Real Story Behind the Drama
The Altruists promises to be more than just a headline-chasing series.
It’s a deep character study of two hyper-intelligent young idealists who set out to change the global financial system and ended up committing one of the biggest financial frauds in history.
FTX, once valued at $32 billion, collapsed almost overnight in late 2022 after an $8 billion deficit in its balance sheets was discovered.
The script, penned by Graham Moore (The Imitation Game) and Jacqueline Hoyt (The Leftovers, The Underground Railroad), is based on real events and will draw from a trove of public records, court proceedings, and interviews.
With direction from James Ponsoldt (Shrinking), the series aims to offer a compelling, dramatic lens on the collapse of FTX and the tangled web of romance, betrayal, and financial deceit at its heart.
Julia Garner: From ‘Ozark’ to Financial Fraud Queenpin
Julia Garner has become one of Netflix’s most bankable talents.
After earning three Emmy Awards for her electrifying performance as Ruth Langmore in Ozark, Garner continued her streak with Inventing Anna, where she played another controversial real-life figure, Anna Sorokin. Her portrayal was met with critical acclaim and further solidified her ability to inhabit complicated, morally ambiguous roles.
In The Altruists, Garner steps into the shoes of Caroline Ellison, a brilliant but ethically compromised figure who ran Alameda Research and was closely involved—professionally and personally—with Bankman-Fried. Ellison eventually turned state witness, providing key testimony that led to Sam Bankman-Fried’s conviction on multiple counts of fraud and conspiracy in 2023.
Higher Ground and Netflix: A Powerhouse Collaboration
The series comes from Higher Ground Productions, the media company founded by Barack and Michelle Obama, which has an exclusive deal with Netflix.
The Obamas’ company has focused on stories that explore social justice, political complexities, and transformative leadership, making The Altruists a natural fit.
Alongside Moore, Hoyt, and Ponsoldt, the executive producer roster includes Julia Garner herself, Vinnie Malhotra, Jessie Dicovitsky, and Scoop Wasserstein for New York Magazine/Vox Media Studios. This is not just a star vehicle for Garner but a collaborative passion project with some of the industry’s finest storytellers.
An Expanding Universe of FTX Dramatizations
While The Altruists leads the pack, it’s far from the only project inspired by the FTX debacle.
Apple and A24 have tapped Lena Dunham for a feature film, while Amazon’s Prime Video is developing a series with the Russo Brothers.
Documentary efforts are also underway from Mark Wahlberg’s Unrealistic Ideas and Bloomberg, each offering their own perspective on the financial scandal that rocked the tech world.
However, Julia Garner’s involvement gives The Altruists a significant edge.
Her proven ability to portray flawed, fascinating women ensures that this will be more than just another true-crime cash-in—it’s set to be a defining role in her already illustrious career.
There are also multiple competing nonfiction projects: one from Vice Media and the Information on effective altruism, and another from studio XTR and director David Darg that promises “unprecedented access to key players at FTX and the cryptocurrency community” in Bankman-Fried’s home base of the Bahamas.
