- Former FTX executive Constance Wang criticizes Netflix’s portrayal of the exchange.
- Wang disputes the series’ focus on Bankman-Fried and Ellison’s relationship.
- Netflix will premiere its eight-episode FTX drama, The Altruists, on November 19.
The Netflix FTX series The Altruists has drawn criticism from former FTX executive Constance Wang over its portrayal of the exchange’s collapse. Wang said the trailer misrepresented working conditions and exaggerated the relationship between Sam Bankman-Fried and Caroline Ellison. Her October 9 comments followed Netflix’s release of the trailer for its upcoming eight-episode drama.
Netflix FTX Series Draws Criticism From Former Executive
Wang, who served as FTX’s chief operating officer, criticized the trailer in an October 9 post on X. She said watching the Netflix FTX series trailer made her physically ill. Wang also rejected suggestions that excessive partying characterized the exchange’s operations before bankruptcy.
According to Wang, FTX employed fewer than 200 core staff members at its peak. Many employees worked 16 to 18 hours daily, leaving little time for rest. She said Bankman-Fried regularly worked at his desk rather than enjoying the lavish lifestyle portrayed onscreen.
Wang also challenged the depiction of Ellison, describing the former Alameda Research chief executive as quiet and reserved. She said most employees learned about Ellison’s relationship with Bankman-Fried only after FTX filed for bankruptcy.
Netflix FTX Series Revisits Bankruptcy and Fraud Convictions
The Netflix FTX series follows Bankman-Fried and Ellison through the exchange’s rise and eventual collapse. Anthony Boyle portrays Bankman-Fried, while Julia Garner plays Ellison in the upcoming drama. Netflix confirmed that The Altruists will premiere on November 19, 2026.
FTX collapsed in November 2022 after a liquidity crisis exposed the misuse of customer funds. A jury convicted Bankman-Fried on seven fraud and conspiracy counts in November 2023. He received a 25-year prison sentence in March 2024.
Meanwhile, Ellison pleaded guilty and cooperated with prosecutors before receiving a two-year sentence in September 2024. Wang said she lost her personal funds during the collapse and rejected Netflix’s romantic framing. She later co-founded the trading platform Pacifica in early 2025.
Netflix’s production draws inspiration from reporting about FTX and its former executives. Creator Graham Moore developed the series around the relationship and financial misconduct that brought down the exchange.
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