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Amazon is working on a TV series about FTX drama with Russo Brothers • TechCrunch

The FTX drama just isn’t over but — and Amazon needs a bit of it. The corporate is partnering with Russo Brothers, finest identified for Marvel films, to make a present on the spectacular collapse of the large cryptocurrency empire.

Amazon has partnered with the duo’s manufacturing home AGBO to make the present, which can go into manufacturing in Spring 2023, Variety first reported. Amazon can also be attempting to rope within the brothers to direct the present, the report added.

The corporate confirmed the information in an announcement and mentioned “Hunters” creator David Weil will write the pilot.

“We’re excited to have the ability to proceed our nice working relationship with David, Joe, Anthony, and the AGBO group with this fascinating occasion collection I can’t consider higher companions to deliver this multifaceted story to our international Prime Video viewers,” Amazon Studios head Jennifer Salke mentioned.

The Russos are additionally working with Amazon to create a multinational international spy series called “Citadel.”

“This is among the most brazen frauds ever dedicated. It crosses many sectors — superstar, politics, academia, tech, criminality, intercourse, medicine, and the way forward for fashionable finance,” the Russos mentioned of the upcoming present surrounding FTX in an announcement. “On the middle of all of it sits a particularly mysterious determine with complicated and doubtlessly harmful motivations. We need to perceive why.”

FTX collapse

FTX and its former CEO Sam Bankman-Fried have been on the middle of media protection the world over after the celebrated cryptocurrency alternate imploded earlier this month.

Coindesk reported earlier in regards to the regarding funds of Alameda Analysis, the buying and selling agency based by Bankman-Fried and intertwined intently with the alternate. The report triggered a set of occasions, culminating in Binance chief government Changpeng “CZ” Zhao unveiling plans to sell FTX’s native token FTT that it had obtained as a part of an funding exit from the agency.

The transfer shook the arrogance of retail buyers and prompted a financial institution run on FTX and unraveled fraudulent misuse of FTX clients’ information.

Bankman-Fried, who alongside along with his agency have attracted regulatory scrutiny in latest weeks, tried to salvage FTX by signing a deal to be acquired by Binance, its chief rival then. Binance pulled out of the deal after discovering FTX had dug too deep of a gap in its steadiness sheet. Inside days, FTX filed for chapter with Bankman-Fried stepping down from the CEO post.

Within the aftermath of this chaos, Bankman-Fried gave a Vox reporter an interview over Twitter direct messages during which he criticized regulators and expressed regrets about filing for bankruptcy and walked again on most of the long-believes he had portrayed about himself to the world. Experiences have since additionally discovered that FTX used corporate funds to purchase houses for workers and owes the highest 50 collectors over $3 billion.

Bankman-Fried is scheduled to talk on the Dealbook summit subsequent week, so we could hear extra about what’s going on with FTX quickly.


Time for the present

All of this makes for a superb TV, for positive. It additionally helps that startup founders doing issues has change into a sleeper hit of a style in recent times as evidenced by hits like “WeCrashed” (Apple TV+) on the WeWork and Adam Neumann fiasco, “Dropout” (Hulu) on the Theranos-Elizabeth Holmes saga, and “Tremendous Pumped” (Showtime) on Uber led by Journey Kalanick. So Amazon is eager to get successful present centering on a controversial tech founder on its catalog. However we might see extra adoption of the FTX story.

Earlier this week, Deadline reported that consumers — together with Apple — are chasing to signal celebrated writer Michael Lewis’ yet-to-be-published e-book. Lewis — who has beforehand written hits that had been later tailored into films corresponding to “The Huge Quick,” “Moneyball,” and “The Blind Facet” — had been intently following Bankman-Fried for over six months earlier than the latest implosion.

Amazon’s present will likely be based mostly on “insider reporting” from varied journalists who’ve coated the difficulty extensively, in response to Selection.

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