TLDR
- Hollywood star Julia Garner to play Caroline Ellison in new Netflix series on the FTX collapse
- The show will explore the financial scandal and personal dynamics between Ellison and Bankman-Fried across eight episodes.
- Sam Bankman-Fried continues to serve a 25-year sentence as he pursued an appeal and seeks a pardon.
- FTX recovered over $7 billion. Creditors may start getting paid in late 2025.
Netflix is set to bring the sensational story of crypto exchange FTX’s downfall with a new limited series that will dramatize the rise and fall of disgraced founder Sam Bankman-Fried and his inner circle.
Series to Explore FTX’s Collapse
As per a recent tweet by entertainment outlet Film Updates, Emmy-winning actress Julia Garner has been cast as Caroline Ellison, the former CEO of Alameda Research and key figure in the FTX collapse. Garner, known for her roles in Ozark and Inventing Anna, will play a central role in the upcoming series, which is set to focus heavily on Ellison’s personal and professional ties to Bankman-Fried.
Julia Garner to star as Caroline Ellison in a limited series about the collapse of cryptocurrency exchange FTX, and the relationship between FTX co-founder and chief executive Sam Bankman-Fried and his girlfriend and business associate Ellison. pic.twitter.com/Df1miZIjb4
— Film Updates (@FilmUpdates) May 2, 2025
According to Whats On Netflix, the eight-episode series will be written by Academy Award-winning screenwriter Graham Moore (The Imitation Game) and produced by Netflix, which reportedly secured exclusive rights to adapt the story. While casting for Sam Bankman-Fried is still ongoing, DAHMER star Evan Peters is rumored to be in talks for the role, though his participation remains unconfirmed.
The series will explore the rapid rise of FTX, once hailed as the most promising crypto exchange in the world, and its dramatic collapse in late 2022 that resulted in billions of dollars in user losses. The storyline is expected to revolve not only around the legal and financial turmoil but also the complicated romantic relationship between Bankman-Fried and Ellison, adding a personal dimension to one of the largest financial frauds in recent history.
Bank-man Fried Maintains Innocence
Since the collapse, both former executives have faced serious legal consequences. Ellison, who pleaded guilty and cooperated with federal prosecutors, was sentenced to two years in prison in September 2024 and ordered to forfeit over $11 billion. Bankman-Fried was convicted on seven counts of fraud, conspiracy, and money laundering, and received a 25-year prison sentence in March 2024.
Last month Bankman-Fried was moved from the notoriously dangerous Victorville federal prison to the more lenient Federal Correctional Institution at Terminal Island in Los Angeles. The new facility, known for its relatively relaxed atmosphere and rehabilitation programs, marks a stark contrast to his previous placement, which had raised concerns for his safety.
Despite his conviction, Bankman-Fried continues to insist on his innocence and is currently appealing his sentence, in the conviction that FTX never went bankrupt, just a liquidity crisis . In March, he launched an effort to obtain a presidential pardon from Donald Trump, drawing fresh public attention.
That said, the upcoming Netflix series aims to capture both the scale of the FTX scandal and the human drama behind it. With the crypto world still reeling from the fallout, the project arrives at a time when public interest in digital finance, regulatory failure, and personal accountability is at an all-time high.
FTX Creditors Continue the Wait
Meanwhile, FTX creditors are still awaiting full recovery of their funds. According to bankruptcy filings and recent court updates, the FTX estate has recovered over $7 billion in assets, with plans to begin returning funds to customers later this year. The estate has pledged to repay eligible creditors in cash based on the dollar value of their holdings at the time of the exchange’s collapse in November 2022.
While no official repayments have been made yet, court documents indicate that some distributions could begin as early as Q3 2025, pending final approval of the reorganization plan. Estimates suggest that creditors may receive between 80% to 100% of their original balances, though exact figures will depend on asset recoveries and litigation outcomes. In March, In March, FTX lawyers however confirmed that liquidators will begin compensating creditors with claims of $50,000 or more starting May 30.
