Apple and art house film company A24 are in early development on a film about convicted crypto scammer Sam Bankman-Fried with a script written by Lena Dunham, Variety reported. The project will be based on the Michael Lewis book Going Infinite: The Rise and Fall of a New Tycoon that many critics found overly deferential to Bankman-Fried.
The book describes the dizzying rise and equally vertiginous fall of Bankman-Fried and his FTX crypto exchange and Alameda hedge fund. However, it paints the FTX founder as a benevolent prodigy and glosses over the fact that he embezzled billions of dollars from customers and spent it on things like celebrity endorsements, political donations and high-end real-estate purchases.
FTX was worth billions at its peak, but the exchange eventually collapsed and Bankman-Fried was convicted of fraud and sentenced to 25 years in prison. Most FTX customers will get their original investments back, plus interest, but that’s based on a bitcoin price of around $17,000 — and the current price is nearly five times that.
Basing the film on Lewis’s fawning hagiography isn’t a promising start. Hopefully, Dunham or other writers will also draw on far better books (like Numbers Go Up by Zeke Faux) that show the dark, scammy side of crypto promoters like Bankman-Fried and the entire industry in general.
Apple Original Films and A24 have announced other collaborations recently, including the Spike Lee and Denzel Washington film High and Low. Other scripted FTX projects are also in the works, including a limited Amazon Prime series from the Russo brothers based on the 2022 FTX collapse.
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