Amazon wants a piece of the FTX drama, which is still going on. The company is making a show about the collapse of the giantcryptocurrencies empire with the help of the Russo Brothers.
The show will go into production in the spring of 2023, Variety reported. The report said that Amazon is trying to get the brothers to direct the show.
David Weil will write the pilot for the show.
"We are excited to be able to continue our great working relationship with David, Joe, Anthony, and the AGBO team with this fascinating event series I can't think of better partners."
The Amazon series called "Citadel" is being created by the Russos.
One of the most brazen frauds has been committed. The upcoming show surrounding FTX crosses many sectors, including celebrity, politics, academia, tech, criminality, sex, drugs, and the future of modern finance. There is a mysterious figure at the center of it all. We would like to understand why.
FTX and its former CEO Sam Bankman-Fried have been at the center of media coverage around the world.
Alameda Research is a trading firm founded by Bankman- Fried and is intertwined with the exchange. The report triggered a number of events, the last of which was the announcement by Changpeng "CZ" Zhao of plans to sell FTX's native token.
The move shook the confidence of retail investors and caused a bank run.
Bankman- Fried, who along with his firm have attracted regulatory scrutiny in recent weeks, tried to save FTX by signing a deal to be acquired by a rival. FTX was found to have dug too deep of a hole in its balance sheet, which led to the pull out of the deal. Bankman- Fried stepped down as CEO of FTX after the company filed for bankruptcy.
In the aftermath of this chaos, Bankman-Fried gave a reporter an interview in which he criticized regulators and expressed regret about filing for bankruptcy, but he walked back many of the long-believes he had made about himself. According to reports, FTX used corporate funds to purchase houses for employees and owes a lot of money.
Next week, Bankman-Fried will speak at the Dealbook summit, so we may hear more about what's happening with FTX.
It makes for a good television. In recent years, hits like "WeCrashed" (Apple TV+) on the WeWork and Adam Neumann fiasco, and "Dropout" (Hulu) on the Theranos-ElizabethHolmes saga have become a new phenomenon. Amazon is interested in getting a hit show about a tech founder. We could see more people adopting the story.
According to Deadline, Apple and other buyers are trying to sign renowned author Michael Lewis. The writer of hits such as "The Big Short," "Moneyball," and "The Blind Side" had been following Bankman-Fried for over six months before the recent implosion.
Variety says that the show will be based on reports from journalists who have covered the issue.
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