Streaming Giants Fight to Get FTX Saga Movie Rights

In Brief

• Michael Lewis, the author behind the Big Short and Moneyball, is working on a book that covers the collapse of FTX.
• Apple is reportedly close to sealing the deal for the film and TV rights for the book.
• New reports show that Sam Bankman-Fried and FTX purchased multiple properties in The Bahamas.

Amazon Studios, Apple, and Netflix are all vying to get the film and TV rights to a Michael Lewis book on the FTX collapse. Apple is reportedly close to sealing the deal.

American author and financial journalist Michael Lewis will be working on a book that covers the collapse of FTX. Reports are emerging that several streaming platforms are looking to strike a deal for a series based on the book. Lewis has spent time with Sam Bankman-Fried, having spent many months with him at the peak of his fame.

Lewis rose to fame for writing books such as the Big Short, The Blind Side, and Moneyball. All have seen successful film adaptations. He takes a statistical approach to his storytelling, offering compelling insights into some noticeable incidents.

When the entertainment industry caught wind of Lewis working on this book, they swooped down to get the rights. The Dish reported that Amazon Studios and Netflix are both in the game.

The story will add some more drama to what is already a notorious story. On the plus side, it will also provide insight into the inner workings of FTX, as Lewis has been in close contact with former CEO Bankman-Fried.

Apple nears sealing the deal
Amazon Studios and Netflix are both eager to nab the rights. It appears that Apple is close to sealing the deal. There will certainly be strong interest in Lewis’ book after it’s released.

There have been a number of film and TV shows based on notorious incidents in the tech industry. From WeCrashed to Super Pumped: The Battle for Uber, Hollywood has shown interest in covering the worst developments in tech.

SBF bought properties worth hundreds of millions
Meanwhile, Sam-Bankman Fried continues to be at the center of controversy as more details about FTX’s operations are revealed. Reuters reported that Bankman-Fried, his parents, and executives bought 19 properties worth nearly $121 million in the Bahamas. A company unit also purchased $300 million worth of properties for senior staff.

The Wall Street Journal also reported that Bankman-Fried cashed out $300 million in a previous funding round from October 2021. At this time, the exchange raised $420 million. Bankman-Fried said at the time that it was a partial reimbursement of money he spent to buy out rival Binance’s stake in FTX.

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