Netflix has released a trailer for The Altruists, its eight-episode drama about Sam Bankman-Fried, Caroline Ellison, and the $8 billion FTX scandal, ahead of a Nov. 19 premiere. Summary All eight episodes of The Altruists will arrive on Netflix on Nov. 19. Anthony Boyle plays Bankman-Fried, while Julia Garner portrays former Alameda Research chief Caroline Ellison. The trailer follows the pair’s relationship and decisions before the collapse of their crypto businesses. Bankman-Fried is serving 25 years in prison and has requested Supreme Court review of his conviction. Netflix announced the trailer on Oct. 8, presenting the series through the relationship between FTX’s former chief executive and Ellison, who ran its affiliated trading firm, Alameda Research. The platform’s accompanying account describes two young idealists whose plans to remake finance ended in crimes involving billions of dollars. Netflix’s FTX trailer follows the pair’s relationship In the footage shared by Netflix, Garner’s Ellison says, “Lying isn’t bad for a good cause.” Another line in the trailer describes “going all-in every time” as “the mathematically optimal strategy,” placing the characters’ approach to risk alongside their stated beliefs about doing good. During Bankman-Fried’s 2023 criminal trial, Ellison testified that he believed restrictions on lying and stealing did not necessarily apply under his interpretation of effective altruism. Her account concerned a philosophy focused on doing as much good as possible, including by earning money to give to charitable causes. For the series’ creator and co-showrunner Graham Moore, the story follows people he believes began with charitable intentions before persuading themselves to commit crimes, according to Netflix’s trailer feature. Moore described an escalating pattern of dishonesty, starting with a “little white lie” and growing over time. Co-showrunner Jacqueline Hoyt told the platform that the couple encouraged each other to build a company they believed could change finance, before their relationship contributed to its destruction. Both writers frame the drama around the characters’ motives and personal decisions. The Altruists brings FTX executives and family members to screen As crypto.news reported in May 2025, Netflix confirmed its lead actors for the production, with Boyle cast as Bankman-Fried and Garner as Ellison. The earlier announcement identified Higher Ground, the production company founded by Barack and Michelle Obama, as a producer. According to that report, Boyle’s previous credits include Say Nothing, Masters of the Air, Tetris and Tolkien. Garner’s Netflix work includes Ozark, Inventing Anna, Maniac and The Get Down. Beyond the two leads, Netflix’s cast list names 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. The platform also lists Paul Reiser as Bankman-Fried’s father, Joe Bankman, and Robin Weigert as his mother, Barbara Fried. Jennifer Grey plays Ellison’s mother, Sarah Fisher Ellison, while Terry Chen portrays Binance founder Changpeng Zhao. In its production notes, Netflix identifies Moore and Hoyt as co-showrunners, co-writers, and executive producers. James Ponsoldt directed the first episode, and the series draws inspiration from New York Magazine reporting. Moore told Netflix that the drama explores private interactions beyond events recorded publicly. The platform’s release notice confirms that viewers will receive all eight episodes on Nov. 19. U.S. prosecutors traced customer funds to Alameda Following FTX’s November 2022 collapse and bankruptcy, U.S. authorities brought criminal cases against Bankman-Fried and other executives. Ellison pleaded guilty and cooperated with prosecutors, later testifying against her former colleague and boyfriend. In its March 2024 sentencing release, the U.S. Department of Justice said Bankman-Fried stole more than $8 billion from customers, defrauded FTX investors of more than $1.7 billion and defrauded Alameda lenders of more than $1.3 billion. According to the department’s account of trial evidence and court filings, customer deposits financed investments, political contributions, real estate and repayments of Alameda’s loans. Prosecutors said Bankman-Fried publicly represented customer funds as safe and separate from company assets while directing money to the trading firm. The department also said he instructed colleagues to change FTX’s systems so Alameda could withdraw effectively unlimited cryptocurrency. Its account described false financial statements for lenders, inflated revenue and profit figures for investors, and backdated documents used to conceal the conduct. After a jury convicted Bankman-Fried on seven counts of fraud and conspiracy, U.S. District Judge Lewis Kaplan imposed a 25-year prison sentence, three years of supervised release and more than $11 billion in forfeiture. The Justice Department said Kaplan authorized recovered forfeiture funds to compensate victims. Bankman-Fried challenges his conviction as Ellison faces restrictions In coverage published Aug. 6, the exchange founder’s 25-year sentence was upheld through a Second Circuit mandate filed Aug. 4, putting the appeals court’s June judgment into effect. According to that report, the appellate panel rejected Bankman-Fried’s argument that potential repayment to customers undermined the fraud case. The judges found that customers were defrauded when their money went to Alameda without authorization, regardless of whether he believed he could return it later. On Sep. 11, a subsequent report detailed his request for Supreme Court review, filed the previous day. His lawyers challenged restrictions on defense evidence concerning FTX’s assets and potential customer repayments. The petition also disputes the approximately $11.02 billion forfeiture order under the Eighth Amendment’s Excessive Fines Clause, according to the report. Bankman-Fried has separately sought a presidential pardon from Donald Trump. For Ellison, federal prison records cited in a Dec. 25, 2025 report listed a Jan. 21 release date. The report said she had moved into community confinement in October 2025 after receiving a two-year sentence in September 2024. In a separate December 2025 enforcement notice, the Securities and Exchange Commission said Ellison consented to a 10-year officer-and-director bar. The agency also said she, Wang, and Singh agreed to permanent injunctions against securities antifraud violations and five-year restrictions on specified conduct, subject to court approval.
