Ever since the FTX meltdown began and information has become clearer, investors have had a question: when would this become a documentary? After all, the story took on increasingly confusing contours that became worthy of any major studio. With that, there was even a joke about who would buy the rights to the plot first: HBO, Netflix or Apple TV +. But none of these giants came out ahead, as the first documentary about FTX will be in charge of the unknown studio XTR. According to Variety magazine, which released the information on Thursday (17), the future documentary is directed by David Darg, a specialist in documentaries. Darg received an Emmy and Oscar nomination for the short documentary Body Team 12, released in 2016. In addition to the director, the XTR team would already be taking care of filming the documentary in the Bahamas, the country where FTX is headquartered. The documentary still has no name, but the XTR team already calls Sam Bankman-Fried (SBF), former CEO of FTX, the “king of cryptocurrencies”. In fact, Variety stated that the work will tell SBF’s trajectory from ‘king of cryptocurrencies’ to a fraud. So the documentary must have some similar title
Documentary will explore the FTX case
Interestingly, filming for the documentary began even before the FTX case had a concrete result. Investigations are ongoing, SBF will still be questioned and FTX awaits the outcome of its request for judicial recovery. It seems that the filmmakers were in a hurry to take advantage of the hearing of the case and carry out the work. While there’s a lot more to know about the behind-the-scenes history of the FTX, it will be interesting to know just how much inside information the manufacturers would extract. And since XTR distributes its documentaries, it will likely be released on some major streaming service. In addition to Darg directing, the new documentary is produced by Bryn Mooser, Kathryn Everett and Justin Lacob. Speaking to Variety, Lacob gave a little information about the work. “(We will have) unprecedented access to major players in FTX and the cryptocurrency community. (The documentary) will explore the corporate drama that rocked markets, triggered government investigations and sent shockwaves,” he said.
privileged access
The filmmakers said they already have a team that is talking to FTX insiders to gather information. Considering what the whole situation represents and the size of FTX, the work will be highly anticipated by investors and cryptocurrency fans. For many, FTX is one of the biggest financial scams of recent times. The fact that the exchange’s new CEO describes the company’s situation as “a complete failure” reinforces this. In FTX’s bankruptcy filing, current CEO John Ray said the company has a complete lack of reliable financial information. On the other hand, SBF is subject to intense regulatory scrutiny in both the Bahamas and the United States. The two countries compete to see who has preference in judging FTX and its CEO.