Netflix has released the first trailer for The Altruists, a limited drama series based on the collapse of cryptocurrency exchange FTX and the relationship between its founder, Sam Bankman-Fried (SBF), and former Alameda Research chief Caroline Ellison.
The streaming platform shared the trailer on October 8, ahead of the series’ November 19 premiere. The eight-episode production stars Anthony Boyle as Bankman-Fried and Julia Garner as Ellison, revisiting the rise and fall of FTX through a dramatized account of their personal and professional relationship.
According to Netflix, the story follows two ambitious young figures who believed they could reshape the financial system but ultimately became central figures in a fraud case involving billions of dollars in customer funds. Rather than focusing solely on FTX’s business operations, the series examines how the pair’s beliefs, personal ambitions, and relationship influenced their decisions.
A Relationship at the Center of the Story
The official trailer presents the characters’ approach to risk and morality through dialogue reflecting their belief that questionable decisions could serve a larger purpose. One line attributed to Ellison states, “Lying isn’t bad for a good cause.” Another refers to going all-in as the mathematically optimal strategy, highlighting the characters’ willingness to embrace risk.
The series’ creator and co-showrunner, Graham Moore, said the story examines how people who initially believed they were pursuing good intentions could gradually justify criminal conduct. He described the progression as beginning with a “little white lie” before expanding into increasingly serious dishonesty.
Co-showrunner Jacqueline Hoyt similarly said that the pair encouraged each other to build a company they believed could challenge the existing financial system. Their relationship, however, became part of the story of how that ambition unravelled.
The trailer and creators’ comments offer Netflix’s framing of the story; they do not independently establish the characters’ private motivations. The production uses available recordings and interviews as reference material while imagining interactions that may not have been captured publicly.
How FTX’s $8B Scandal Unfolded
FTX collapsed in November 2022, leading to bankruptcy proceedings and criminal investigations into how the exchange handled customer money. U.S. prosecutors said SBF diverted customer funds to Alameda Research, which used the money for investments, political contributions, real estate and other expenses.
In March 2024, the U.S. Department of Justice said SBF had stolen more than $8 billion from FTX customers. Prosecutors also said he defrauded FTX investors of more than $1.7 billion and Alameda lenders of more than $1.3 billion.
A jury found SBF guilty of seven fraud and conspiracy charges in November 2023. He was later sentenced to 25 years in prison and ordered to forfeit more than $11 billion. Ellison pleaded guilty and testified against SBF during his trial. She received a two-year prison sentence in September 2024.
The case became a turning point for the crypto industry, highlighting the risks of poor oversight and the misuse of customer funds. The legal consequences for those involved have continued long after FTX’s collapse.
Meet the Cast Behind the FTX Drama
Netflix has also announced several actors playing people connected to FTX and Alameda Research. The announced cast includes Alex Lawther as former Alameda co-chief Sam Trabucco, Matt Rife as former FTX executive Ryan Salame, Karan Soni as Nishad Singh, and Eugene Young as Gary Wang.
Paul Reiser plays Bankman-Fried’s father, Joe Bankman, while Robin Weigert portrays his mother, Barbara Fried. Terry Chen appears as Binance founder Changpeng Zhao.
Netflix has identified Moore and Hoyt as the series’ co-showrunners, writers and executive producers. James Ponsoldt directed the first episode, and the production draws inspiration from reporting published by New York Magazine.
Moore said Garner and Boyle focused on building fuller character portrayals rather than simply imitating the real people. The actors studied available recordings, interviews and other material to understand how Bankman-Fried and Ellison presented themselves publicly and might have behaved away from cameras.
When Will The Altruists Premiere?
All eight episodes of The Altruists are scheduled to arrive on Netflix on November 19, 2026. The series will bring a dramatized account of FTX’s rise and collapse to a wider audience, revisiting the relationship between two former industry insiders whose actions became central to the exchange’s downfall.
Bankman-Fried continues to challenge his conviction, while the series offers viewers a separate look at the personal decisions and motivations behind the scandal. Netflix has not announced any change to the premiere date stated in its release.
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