A brand-new documentary will highlight the FTX story and the events that brought about the collapse of the cryptocurrency exchange by concentrating on the tumultuous connection between Sam Bankman-Fried and Changpeng Zhao, the founder of Binance.
The Hollywood Reporter claims that Unrealistic Ideas, a non-scripted production firm created by American actors Mark Wahlberg, Stephen Levinson, Archie Gips, and media outlet Fortune, are partners in the project.
“The tumultuous relationship between SBF and CZ has played out to a certain extent in articles and on Twitter, but this definitive documentary will give people a 360-degree personal look at the entire FTX saga,” noted Fortune editor-in-chief Alyson Shontell
The documentary will center on how Zhao and Bankman-Fried became two of the most important figures in the cryptocurrency industry and how their relationship fluctuated between being allies and rivals. Zhao was born into a prominent academic family with political connections, while Bankman-Fried’s family fled from China to Canada when he was 12 years old.
Recap: Zhao was at the core of the spectacular downfall of FTX. Beginning in November 2022, the CEO of Binance officially announced intentions to sell off all of the company’s holdings in FTX’s native token, FTT.
According to CZ, the choice was made to “control post-exit risk” as a result of “recent discoveries” regarding FTX. Binance “won’t support those that push against other industry participants behind their backs,” he added at the time.
A significant bank run occurred at FTX as a result of CZ’s remarks. Zhao’s action was essential to advancing the inquiries into how FTX managed cash with its sister business, Alameda Research.
On December 14, we learned of yet another significant development in the connection between crypto entrepreneurs. Investor Kevin O’Leary gave information concerning interactions with Bankman-Fried in the days before FTX declared bankruptcy at a hearing before a United States Senate committee.
O’Leary noted in the hearing that “these two [SBF and CZ] in an unregulated market […] With this incredible business in terms of growth were at war with each other, and one put the other out of business, intentionally.”
The main topic of the documentary will circle around the rise and fall of Sam Bankman-Fried.