Netflix Eyes FTX Meltdown for Next Drama Hit—With Julia Garner as Caroline?
From courtroom to screen, the FTX collapse is getting the Hollywood treatment. But will Netflix’s rumored adaptation reveal more about crypto—or just entertain?
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Netflix is reportedly focusing on this angle for its upcoming limited series chronicling the rise and spectacular collapse of FTX, a landmark scandal in crypto history.
According to multiple sources, the streaming giant is nearing a deal with Emmy-winning actress Julia Garner to play former Alameda Research CEO Caroline Ellison. Evan Peters is also rumored to be in talks to portray FTX founder Sam Bankman-Fried.
Garner, known for her roles in Ozark and Inventing Anna, will also expected to executive produce the series, which will be developed by Higher Ground—Barack and Michelle Obama’s production company. While Netflix has declined to comment, Variety reports that an eight-episode run is already in the works, with filming potentially starting this summer.
FTX on Screen: Turning Scandal Into Storytelling
The FTX collapse in late 2022 was one of the most high-profile implosions in the history of digital finance. Over $8 billion in customer funds vanished, triggering congressional hearings, a media frenzy, and ultimately, convictions for both Ellison and Bankman-Fried on charges including wire fraud and money laundering.
Now, two and a half years later, Hollywood is revisiting the saga—even as the cryptocurrency world continues to grapple with the repercussions. Sources suggest that Netflix’s series will use the romantic relationship between Ellison and Bankman-Fried as a structural lens for the story. Whether that choice enriches the drama or dilutes its complexity remains to be seen.
A-List Power, Crypto Plot: Inside Netflix’s FTX Dream Team
While official casting has yet to be confirmed, the creative team is already stacked:
- Writer & Co-Showrunner: Graham Moore (The Imitation Game)
- Director of First Episode: James Ponsoldt (The Spectacular Now)
- Production: Higher Ground (Barack & Michelle Obama), Scoop Productions, and others
- Possible Cast: Julia Garner (Caroline Ellison), Evan Peters (Sam Bankman-Fried)
If confirmed, Garner’s casting would add considerable weight to the project. Her portrayal of con artist Anna Delvey in Inventing Anna earned her critical acclaim, and her return to Netflix could position the show as both a prestige drama and a viral hit.
From Collapse to Canon: How Hollywood Rewrites Crypto History
Turning the FTX saga into prestige television is more than entertainment—it’s myth-making. Hollywood adaptations shape public memory. When crypto narratives hit the screen, they often become simplified, dramatized, and moralized. That process can obscure as much as it reveals.
The choice to focus on a “love story” between Ellison and Bankman-Fried, for instance, raises key risks:
- Oversimplification of systemic issues — reducing complex financial failures to personal drama may obscure the real lessons behind FTX’s collapse.
- Mythologizing the wrong story — focusing on individual relationships can eclipse the structural flaws in crypto governance and market transparency.
It’s not just a question of casting or tone—it’s about framing. Will viewers come away understanding the structural vulnerabilities of centralized exchanges and opaque trading firms? Or will they simply remember the messy romance?
Drama Meets Regulation: Why Crypto Is Watching Hollywood
The crypto industry has reason to watch closely. Media portrayals influence not just public sentiment, but potentially policy. With the FTX collapse still fresh in the minds of regulators, how the story is retold could shape perceptions of the broader ecosystem.
If the series leans into spectacle over substance, it may:
- Fuel regulatory overreach — reinforcing narratives that justify heavy-handed intervention.
- Undermine public trust — presenting crypto as inherently chaotic or fraudulent.
At the same time, dramatization offers an opportunity. Done well, the show could serve as a cautionary tale, educating mainstream audiences about the importance of transparency, governance, and decentralization.
From Rumor to Reel: Will Netflix Actually Deliver FTX?
Of course, there’s no guarantee the show will ever air. Hollywood is littered with high-profile projects that never made it past the script phase. Even within crypto, rumors of a Bitfinex hack adaptation surfaced last year—but have since gone quiet.
Still, the fact that a Netflix series on FTX is in serious development says something. Crypto has crossed the threshold from niche subculture to cultural flashpoint. And when stories of leverage, fraud, and hubris are this dramatic, it’s only a matter of time before someone hits “record.”
Because in 2025, even crypto’s failures are content.
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