Apple is nearing a deal for the book rights to Michael Lewis’ story about the fall of entrepreneur Sam Bankman-Fried and his cryptocurrency trading platform FTX, reports Deadline. If the rights are secured, the streaming service will likely turn the story into a feature film.
The author behind Moneyball, The Big Short and The Blind Side spent six months with Bankman-Fried “before the stuff hit the fan,” notes Deadline. FTX experienced a crisis in late 2022, which led to a collapse in FTX’s native cryptocurrency, FTT. Amid the crisis, Bankman-Fried announced he would wind down operations at Alameda Research and resigned as CEO of FTX, which filed for Chapter 11 bankruptcy.
Bankman-Fried’s net worth peaked at $26 billion. However, on November 8, 2022, amid FTX’s solvency crisis, his net worth was estimated to have dropped 94% in a day to $991.5 million, according to the Bloomberg Billionaires Index. That’s the largest one-day drop in the index’s history.
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