New FTX documentary to spotlight SBF-CZ relationship

The FTX saga and the developments that led to the crypto exchange's illness volition beryllium framed successful a caller documentary focusing connected the volatile narration betwixt Sam Bankman-Fried and 1 of his fiercest critics, Binance laminitis Changpeng Zhao.

According to The Hollywood Reporter, the accumulation is simply a concern betwixt media outlet Fortune and Unrealistic Ideas, a non-scripted accumulation institution co-founded by American histrion Mark Wahlberg, Stephen Levinson and Archie Gips.

"The tumultuous narration betwixt SBF and CZ has played retired to a definite grade successful articles and connected Twitter, but this definitive documentary volition springiness radical a 360 grade idiosyncratic look astatine the full FTX saga,” noted Fortune editor-in-chief Alyson Shontell successful a connection shared with Cointelegraph.

The documentary volition absorption connected however Bankman-Fried, calved into a salient world household with governmental connections, and Zhao, whose household fled from China to Canada erstwhile helium was 12, came to beryllium 2 of the astir applicable figures successful the crypto space, and however their narration alternated betwixt being allies and rivals.

For a little recap, Zhao was astatine the epicenter of FTX's melodramatic collapse. At the opening of November 2022, the Binance CEO publically disclosed plans to liquidate the company's full presumption successful FTX's autochthonal token, FTT (FTT).

Related: FTX debtors question subpoenas for interior ellipse of Sam Bankman-Fried

According to CZ, the determination reflected "post-exit hazard management" owed to “recent revelations" astir FTX. At the time, helium besides argued that Binance “won’t enactment radical who lobby against different manufacture players down their backs.” 

FTX experienced a monolithic slope tally arsenic a effect of CZ's comments. Zhao's determination was important to further investigations regarding FTX's absorption of funds with its sister company, Alameda Research.

Another noteworthy infinitesimal successful the narration betwixt the crypto entrepreneurs came to airy connected Dec. 14. In a proceeding earlier the United States Senate committee, capitalist Kevin O'Leary provided details astir conversations with Bankman-Fried successful the days earlier FTX filed for bankruptcy.

O'Leary noted successful the proceeding that "these 2 [SBF and CZ] successful an unregulated marketplace [...] With this unthinkable concern successful presumption of maturation were astatine warfare with each other, and 1 enactment the different retired of business, intentionally."

The emergence and autumn of Bankman-Fried's crypto empire are the topics of respective movie projects. As reported by Cointelegraph, Amazon’s video streaming work Prime is producing an eight-episode constricted series astir the scandals down the crypto exchange. Author and fiscal writer Michael Lewis, known for his publication The Big Short, had spent six months with Bankman-Fried earlier FTX implosion, and reportedly sold the publication rights to Apple.