Apple to Develop Movie on FTX Founder Sam Bankman-Fried, Based on Michael Lewis’ Book

Apple Studios is teaming up with A24 to bring the dramatic rise and fall of FTX founder Sam Bankman-Fried to the big screen. The film will be adapted from Michael Lewis’ book, “Going Infinite: The Rise and Fall of a New Tycoon,” which chronicles the story of the disgraced cryptocurrency mogul.

The story of Sam Bankman-Fried, once a crypto billionaire and now a convicted fraudster, has captured the world’s attention. Apple has acquired the film rights to Lewis’ book for a reported $5 million. The film will explore the wild ride of Bankman-Fried’s rise to fame and his eventual downfall, providing a cinematic portrayal of one of the biggest financial scandals of recent times.

A Deep Dive into the FTX Saga

Sam Bankman-Fried’s story is one of contradictions. Once hailed as a genius and a pioneer in the crypto industry, his firm FTX collapsed in one of the most dramatic financial implosions of the decade. Bankman-Fried was convicted of multiple charges, including fraud and conspiracy, in late 2023. The charges stemmed from his role in orchestrating the massive collapse of his cryptocurrency exchange, FTX, which saw billions in customer funds vanish.

The FTX founder’s story is one of hubris, deception, and a stunning fall from grace. Bankman-Fried was initially seen as a financial prodigy, a young entrepreneur who built a thriving crypto empire. But the shocking collapse of FTX revealed deep-seated fraud and mismanagement that led to widespread losses for investors and customers alike. In November 2023, Bankman-Fried was convicted on seven counts, including money laundering, and ordered to forfeit $11 billion.

Apple’s forthcoming movie, based on Michael Lewis’ book, promises to offer an inside look at this high-stakes drama. Lewis, the renowned author behind books like “Moneyball” and “The Big Short,” had exclusive access to Bankman-Fried before the collapse of FTX. His in-depth reporting provides unique insight into the mind of the former crypto mogul, and his book will serve as the foundation for the upcoming film.

Michael Lewis’ Exclusive Access to Bankman-Fried

Michael Lewis is no stranger to telling captivating stories about financial misadventures. His past works have inspired successful films, and “Going Infinite” is expected to follow suit. Lewis had unprecedented access to Sam Bankman-Fried during the peak of his power. He shadowed the FTX founder, attending exclusive events, including a lavish gathering in the Bahamas, and even visiting him at his Palo Alto home during his house arrest.

In interviews, Lewis has revealed how Bankman-Fried seemed almost oblivious to the scale of the fraud he was orchestrating. Bankman-Fried reportedly dismissed concerns about the $8 billion in customer funds as a “rounding error,” an attitude that would come to define the chaotic collapse of FTX. Lewis spent time questioning Bankman-Fried about the financial irregularities, but the answers were often evasive or nonsensical.

This close access to Bankman-Fried gives the book—and subsequently the film—a level of intimacy and detail that makes the story all the more compelling. For many, it’s hard to fathom how a man once considered a financial genius could fall so far. But through Lewis’ lens, viewers will get a chance to understand the thinking—and the miscalculations—that led to the FTX disaster.

A24 and Apple: A High-Profile Collaboration

Apple Studios and A24 have joined forces to bring this dramatic story to life. A24, known for its work on critically acclaimed films like “Moonlight” and “Lady Bird,” is no stranger to stories of ambition, betrayal, and downfall. Together with Apple, the production company will bring Lewis’ account of Bankman-Fried’s rise and fall to a global audience.

The film is expected to be a major project, drawing attention not just for its source material but also for the powerful combination of Apple and A24. The team behind the movie is already gaining attention, with speculation about casting and the direction the film will take. While details about the cast are still under wraps, the film is expected to capture the essence of Bankman-Fried’s reckless ambition and eventual unraveling.

The movie is set to join a growing list of productions about the FTX scandal, including a series from Amazon, which was announced in 2022. But Apple’s film promises to offer a fresh perspective, with the unique input of Michael Lewis, whose book offers one of the most comprehensive looks at the FTX saga.

A Cautionary Tale About Power, Ambition, and Fraud

The rise and fall of Sam Bankman-Fried serves as a cautionary tale about the dangers of unchecked ambition and the consequences of financial mismanagement. FTX was once seen as a beacon of innovation in the cryptocurrency world, but its collapse highlighted the fragility of the industry and the lack of regulation in the fast-moving world of digital assets.

For Bankman-Fried, the downfall was swift and catastrophic. Once ranked as the 41st richest American, he is now serving a 25-year sentence for his role in the fraud. His story has sparked debates about ethics, regulation, and the future of crypto markets, making it a fitting subject for both a book and a film.

The Apple movie promises to bring this story to the screen with a mix of drama, intrigue, and perhaps a bit of disbelief at the sheer audacity of Bankman-Fried’s actions. The combination of Michael Lewis’ writing and the production talents of A24 and Apple Studios ensures that this story will captivate audiences for years to come.