crypto strategy

New FTX documentary to shed light on SBF-CZ relationship

The FTX saga and the developments that led to the crypto exchange’s collapse will be framed in a new documentary focusing on the volatile relationship between Sam Bankman-Fried and one of his fiercest critics, Binance founder Changpeng Zhao .

According to for The Hollywood Reporter, the production is a partnership between Fortune media and Unrealistic Ideas, an unscripted production company co-founded by American actor Mark Wahlberg, Stephen Levinson and Archie Gips.

“The tumultuous relationship between SBF and CZ has played out to some extent in articles and on Twitter, but this definitive documentary will give people a personal 360-degree look at the entire FTX saga,” noted the editor of Fortune, Alyson Shontell. in a statement shared with Cointelegraph.

The documentary will focus on how Bankman-Fried, born into a prominent academic family with political ties, and Zhao, whose family fled China to Canada at the age of 12, became two of the most most relevant in the crypto space, and how their relationship alternated between allies and rivals.

For a brief recap, Zhao was at the epicenter of FTX’s dramatic collapse. At the beginning of November, the Binance CEO has made public his intention to liquidate the company’s entire position in FTX’s native token, FTT (FTT).

Related: FTX debtors seek subpoenas for Sam Bankman-Fried’s inner circle

According to CZ, the decision reflected “post-release risk management” due to “recent revelations” around FTX. At the time, he also argued that Binance “will not support people who lobby against other industry players behind their backs.”

FTX experienced a huge bank run following CZ’s comments. Zhao’s move was pivotal to further investigations into FTX’s fund management with its sister company, Alameda Research.

Another remarkable moment in the relationship between the crypto entrepreneurs was revealed on December 14. During a hearing before a US Senate committee, investor Kevin O’Leary provided details of conversations with Bankman-Fried in the days before FTX filed for bankruptcy.

O’Leary noted at the hearing that “these two [SBF and CZ] in an unregulated market […] With this incredible company in terms of growth, they were at war with each other, and one put the other out of business, intentionally.

The rise and fall of Bankman-Fried’s crypto empire are the subjects of several film projects. As reported by Cointelegraph, Amazon Prime’s video streaming service is production of an eight-episode limited series on the scandals behind the crypto exchange. Also, author and financial journalist Michael Lewis, known for his book The big courthad spent six months with Bankman-Fried before FTX implosed over an upcoming book and reportedly sold the film rights to Apple.