Sam Bankman-Fried and the collapse of FTX made headlines when the popular cryptocurrency exchange filed for bankruptcy using the United States penal code for chapter 11 bankruptcy. FTX collapse is being hailed as the biggest financial disaster after the Enron bankruptcy of 2001, and the financial loss is estimated in the multibillion dollars.
In the latest developments, Apple is on the verge of closing a deal for the exclusive right to Michael Lewis’s book describing the collapse of FTX and the ill practises of Sam Bankman-Fried, says a report from Deadline. Michael, the writer behind The Big Short, Moneyball, and The Blind Side, was with Sam for six months prior to FTX filing for bankruptcy. Michael’s book contains Sam Bankman-Fried FTX empire’s ins and outs, the information Apple wants to tap into.
What do we know about the film
Apple has not released any official details; however, that has not stopped speculations and rumors from being spread about the movie. The deal is estimated to be “in the high 7-figures,” and Apple is not the only company competing for the deal. According to Deadline, other major publications are involved in the deal;
We heard last week that others circling the project included Amazon Studios, David Heyman, writer Wells Tower and David Yates, Netflix with David Fincher and Sugar23 with Josh Gad.
Sam Bankman-Fried has been at the center of media attention, and many other projects are underway documenting his company. Sam and his cryptocurrency exchange FTX were the advocates of crypto regulations, making him the most notable figure. Sam Bankman-Fried remained popular with influential people at the Whitehouse and with SEC regulators.
Sam Bankman-Fried is facing many lawsuits and inquiries due to using the FTX crypto exchange for personal gains. Before filing for bankruptcy, Sam handed control of FTX to John J. Ray, who will complete FTX bankruptcy and uncover the mess behind Sam’s FTX operations.