Former FTX chief operating officer Constance Wang has criticized Netflix’s portrayal of the cryptocurrency exchange’s collapse and several of its former senior executives, saying she stopped watching the trailer shortly after it began.
“The first 30 seconds were enough to upset me,” Wang said in an episode of the Chain Reaction X Spaces show published on Monday, according to Cointelegraph. She said the trailer’s depiction of some former FTX executives made her feel physically upset and did not reflect her own experience of working with them.
Netflix’s eight-episode drama, titled *The Altruists*, is scheduled to premiere globally on Nov. 19, 2026. The series focuses on the events surrounding FTX, once one of the world’s largest cryptocurrency exchanges, and its collapse in November 2022.
Wang disputes the series’ portrayal of FTX leaders
Wang said the trailer’s depiction of Caroline Ellison, the former chief executive of FTX’s affiliated quantitative trading firm Alameda Research, differed from the person she knew. She also said Sam Bankman-Fried, FTX’s former co-founder and chief executive, was more socially awkward in real life than the version shown in the Netflix production.
Her comments reflect the sensitivity surrounding dramatizations of FTX’s collapse, which became one of the most significant failures in the cryptocurrency industry. The exchange collapsed after customer funds were transferred without consent to Alameda, where they were used to finance trading losses. The resulting shortfall in customer funds was reported at $8.9 billion.
Legal aftermath continues
Bankman-Fried and Ellison were indicted in December 2022, following FTX’s collapse and bankruptcy proceedings. Ellison accepted a plea agreement and testified against Bankman-Fried. She was released from prison in January after serving 440 days of a two-year sentence.
Bankman-Fried was convicted on seven felony counts and sentenced to 25 years in prison in March 2024. His scheduled release is in 2044. His lawyers reportedly asked the US Supreme Court in September to overturn his fraud conviction, and he has also applied for a pardon from US President Donald Trump.
Wang’s post-FTX venture and market picture
After FTX failed, Wang founded Pacifica in early 2025. The company initially launched as a Solana-based decentralized exchange for perpetual futures. Wang said she wants to add artificial-intelligence capabilities and develop Pacifica into intelligent trading infrastructure with strategic tools for investors.
She also said Pacifica was built without outside funding. According to Wang, some institutional investors faced compliance restrictions when discussing opportunities with former FTX personnel while the bankruptcy proceedings remained active.
Moneyiar market data at 11:03-11:04 on Oct. 21, 2026, showed Raydium (RAY) at $1.9878829795, up 6.08% over 24 hours but down 0.63% over seven days. Four (FORM) was $0.249032164, gaining 1.48% in 24 hours and falling 6.96% over seven days. Comedian (BAN) stood at $0.0584926252, up 9.79% daily and 7.4% weekly, while Notcoin (NOT) was $0.000405051, up 3.6% over 24 hours and down 8.1% over seven days.
