HomeNewsMichael Lewis Selling Movie Rights for Book on FTX's Meltdown

Michael Lewis Selling Movie Rights for Book on FTX’s Meltdown

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Michael Lewis, author of Moneyball and The Big Short (left) and Sam Bankman-Fried, founder of FTX (right)

Michael Lewis, creator of Moneyball and The Massive Brief (left) and Sam Bankman-Fried, founding father of FTX (proper)
Picture: David Levenson / Tom Williams/CQ-Roll Name, Inc (Getty Photographs)

Michael Lewis, creator of Moneyball and The Massive Brief, has been following FTX founder Sam Bankman-Fried for the previous six months to put in writing his subsequent ebook. And whereas the potential ending of Lewis’s ebook has clearly modified prior to now week since FTX’s $32 billion implosion, Lewis is already procuring across the film rights, in keeping with a brand new report from The Ankler.

Matthew Snyder from expertise company CAA, which represents Lewis, reportedly despatched round an e-mail on Friday to Hollywood bigwigs explaining that Lewis has been interviewing Bankman-Fried for months. Lewis and Bankman-Fried have been speaking about every part from the FTX founder’s childhood to his first successes on Wall Avenue, and it appears sure that Lewis may have the within story on every part that occurred earlier than FTX filed for chapter on Friday.

“After all, the occasions of the previous week have supplied a dramatic shock ending to the story. It additionally highlighted the rivalry between Bankman-Fried and Binance head Chnagpeng [sic] Zhao. Michael likens them to the Luke Skywalker and Darth Vader of crypto,” the e-mail by Snyder reads, in keeping with a screenshot printed by The Ankler.

“Michael hasn’t written something but, however the story has grow to be too massive for us to attend. Let me know if I’ve piqued your curiosity,” the e-mail continued.

The misspelled reference to Binance CEO Changpeng Zhao, or CZ as he’s usually recognized, refers to how CZ’s actions despatched FTX right into a tailspin. CZ purchased a 20% stake in FTX again in 2019 however he had a falling out with Bankman-Fried, in keeping with Reuters. When Bankman-Fried purchased out CZ’s stake in FTX in mid-2021 it was largely with FTX’s native token, FTT. CZ offered $580 million of that token final week, which despatched the home of playing cards tumbling to the bottom.

Lewis had hinted over the summer season that he was on to one thing massive, telling Monetary Information that he’d been launched to somebody throughout the crypto business by a mutual good friend.

“I actually don’t wish to reveal precisely what I’m writing about. However I discovered a personality by whom I can write about—it weirdly hyperlinks up Flash Boys, The Massive Brief and Liar’s Poker,” Lewis advised Monetary Information again in August, referring to his different books.

“I’m basically over the following 12 months going to be at this particular person’s hip. I don’t know fairly what the story appears to be like like but,” Lewis stated.

We now know that particular person was certainly Sam Bankman-Fried. And it’s unclear what sort of entry Lewis has now that shit has actually hit the fan.

The 30-year-old Bankman-Fried based FTX in 2019, a crypto alternate that grew to a valuation of $32 billion in a surprisingly quick period of time. SBF, as he’s usually known as, grew to become a billionaire whereas promoting himself as an moral wealthy man. He was a promoter of “efficient altruism,” supposedly giving freely thousands and thousands every year, and is a vegan who donated to largely left-leaning political causes, together with President Joe Biden.

Nevertheless it all got here crashing down final week, thanks largely to Bankman-Fried allegedly shifting billions of {dollars} in FTX buyer funds to sister group Alameda Analysis, the place he made bets he couldn’t cowl. Each the SEC and DOJ reportedly opened investigations into the previous billionaire, even earlier than the corporate filed for chapter on Friday. To make issues even weirder, FTX was supposedly “hacked” over the weekend and had about $600 million in crypto drained.

Bankman-Fried, who was personally value about $26 billion at his peak, is seemingly nonetheless within the Bahamas, the place FTX was primarily based, although there are rumors he’s attempting to flee to a rustic with out an extradition treaty with the U.S.—a transfer that may clearly make for an incredible scene in any film that’s in the end produced.

Michael Lewis isn’t any stranger to Hollywood and the rights to his work are just about assured to fetch a fairly penny. The creator’s ebook Moneyball was tailored to the large display for Brad Pitt and Jonah Hill in 2011, and his ebook The Massive Brief was tailored for Steve Carell, Ryan Gosling, Brad Pitt, and Christian Bale in 2015. Each motion pictures have been enormous hits, with Moneyball taking in $110 million on a funds of $50 million and The Massive Brief grossing $133 million on a funds of $50 million.

Except for the record-breaking pace of FTX’s implosion, the story of Bankman-Fried’s downfall has loads of moments that any screenwriter would love, together with a 10-person romantic relationship and rumors of widespread amphetamine use. Effectively, not a lot rumors as tweets posted very publicly by Caroline Ellison, the top of Alameda Analysis and a romantic companion of Bankman-Fried.

Image for article titled Michael Lewis Already Selling Movie Rights for Book on FTX's $32 Billion Meltdown

Screenshot: Twitter

Lewis can even absolutely have loads of materials to work from with regards to Bankman-Fried’s household historical past. Each of the crypto founder’s dad and mom are blue on Wikipedia: Barbara Fried and Joseph Bankman are professors at Stanford Regulation College. His aunt, Linda P. Fried, can be dean at Columbia College’s faculty of public well being.

There are additionally little tidbits from outdated interviews with Bankman-Fried that at the moment are surfacing as bizarre particulars which will or might not make the film. As an example, Bankman-Fried gave an interview the place he defined that he thought books have been for losers. Significantly.

“I’m very skeptical of books. I don’t wish to say no ebook is ever value studying, however I really do consider one thing fairly near that. I believe, in case you wrote a ebook, you fucked up, and it ought to have been a six-paragraph weblog submit,” Bankman-Fried is quoted as saying in an interview that’s since been deleted from the web.

Possibly SBF ought to’ve opened a ebook or two about how ponzi schemes end up. It’s normally not nice for the individuals who run them.



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