Former FTX COO Criticizes Netflix’s Portrayal of Exchange Collapse

In an interview with Cointelegraph on the Chain Reaction X show released Monday, Wang shared her reaction to the Netflix trailer of the series, stating, “The first 30 seconds upset me enough that I stopped watching.”

Wang revealed that the portrayal of some former FTX leaders in the Netflix trailer made her feel physically uncomfortable. She specifically highlighted that the depiction of Alameda Research CEO Caroline Ellison did not reflect her firsthand experiences. Additionally, she described former FTX co-founder and CEO Sam Bankman-Fried as more socially awkward than the character shown in the series.

Wang held the position of COO at FTX, which had become one of the largest cryptocurrency exchanges globally before collapsing in November 2022 amid client fund misappropriation resulting in an $8.9 billion shortfall. Alameda Research, a quantitative trading firm affiliated with FTX, used customer funds from FTX without consent, as Bankman-Fried redirected these to cover Alameda’s trading losses—a situation now referred to as the ‘Alameda gap.’

Netflix released the trailer for an eight-episode dramatization of FTX’s collapse in early October. The series, titled “The Altruists,” is scheduled for global release on November 19, 2026, according to Netflix’s announcement.

Following FTX's downfall in early 2025, Wang founded Pacifica, a crypto trading platform initially launched as a decentralized exchange for perpetual futures built on Solana.

Wang aims to integrate artificial intelligence features into Pacifica, transforming it into a smart trading infrastructure equipped with strategic tools designed for investors.

She noted that Pacifica has been entirely self-funded without external investments. Wang also mentioned that during FTX’s bankruptcy process, some institutional investors faced compliance hurdles when interacting with former FTX employees.

In December 2022, Bankman-Fried and Ellison were charged following FTX’s collapse and bankruptcy proceedings.

Ellison accepted a plea deal, testified against Bankman-Fried, and was released from prison in January after serving 440 days of a two-year sentence.

Bankman-Fried was found guilty on seven felony charges and received a 25-year prison sentence in March 2024, with release set for 2044. In September, his lawyers appealed to the Supreme Court to overturn his fraud conviction. He has also petitioned former U.S. President Donald Trump for a pardon.

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This insight highlights the personal impact of public portrayals on individuals involved in major corporate collapses and underscores continuing legal and entrepreneurial developments following FTX’s downfall.