Former FTX executives criticise Netflix drama The Altruists over crypto scandal portrayal
Former FTX executives have challenged Netflix’s portrayal of the cryptocurrency scandal in The Altruists, ahead of the drama’s November premiere.
Netflix’s upcoming drama The Altruists has drawn criticism from former FTX executives who say its first trailer presents an inaccurate picture of the cryptocurrency company and the people involved in its collapse. Constance Wang, FTX’s former chief operating officer and co-chief executive of FTX Digital Markets, has challenged the portrayal of the company’s working culture and the relationship between its founder, Sam Bankman-Fried, and former Alameda Research chief Caroline Ellison.
In a public post on X, Wang said the workplace she remembered looked nothing like the carefree environment suggested by the trailer. She described a small core team working extremely long hours, adding that Bankman-Fried was regularly at his desk whenever she arrived at the office. Wang also disputed the trailer’s presentation of Ellison, saying she had never witnessed the aggressive behaviour shown in the footage.
Wang questioned how much employees knew about Ellison and Bankman-Fried’s romantic relationship before FTX collapsed in November 2022. She said many colleagues only learned about the relationship through subsequent reporting, and argued that the trailer’s dramatic treatment risked distorting the complicated reality of what happened. Former FTX business development executive Andrew Croghan also criticised the portrayal, saying the dramatic approach risked reducing a serious financial scandal to familiar romantic storylines.
The real story behind Netflix’s FTX drama
The Altruists follows the rise and collapse of FTX, once one of the best-known cryptocurrency exchanges in the world. Its downfall exposed the misuse of customer funds and the relationship between the exchange and Alameda Research, leaving customers facing substantial losses and leading to criminal proceedings against senior figures.
Bankman-Fried was convicted of fraud and conspiracy offences and sentenced to 25 years in prison in March 2024. Ellison pleaded guilty to fraud-related charges, cooperated with prosecutors and received a two-year prison sentence in September 2024. She was released in January 2026 after serving approximately 14 months.
The series stars Anthony Boyle as Bankman-Fried and Julia Garner as Ellison. Creator Graham Moore has described the drama as an exploration of how two ambitious people who believed they could improve the financial system became involved in serious wrongdoing. The production uses a scripted narrative to interpret real events, meaning its dialogue and characterisation should not be confused with a documentary account.
Watch the trailer here:
When does The Altruists arrive on Netflix?
The Altruists is scheduled to premiere on Netflix on 19 November 2026, with eight episodes planned for the limited series.
Its story examines the ambitions, decisions and personal relationship at the centre of the FTX collapse, bringing one of the cryptocurrency industry’s most consequential scandals to the screen.
