FTX’s ex-COO skipped Netflix’s downfall drama after 30 seconds: “Enough to upset me” 😬

Former FTX COO Constance Wang said she stopped watching Netflix’s forthcoming FTX drama after its first 30 seconds left her “enough to upset me,” adding that the portrayal of some former executives made her “feel physically upset.” Speaking during a Monday episode of Cointelegraph’s Chain Reaction X spaces show, Wang said the trailer’s depiction of Alameda Research CEO Caroline Ellison did not match her personal experience and described former FTX co-founder and CEO Sam Bankman-Fried as more “socially awkward” than his on-screen portrayal.

FTX collapsed in November 2022 after misappropriating customer funds, producing an $8.9 billion shortfall. Its sister company, quantitative trading firm Alameda Research, used those funds—transferred by Bankman-Fried without customer consent—to cover trading losses, a shortfall now known as the Alameda gap. Netflix released the trailer for its eight-episode series, titled The Altruists, in early October. The drama is scheduled to premiere globally on Nov. 19, 2026.

Wang founded crypto trading platform Pacifica in early 2025 following FTX’s collapse. It began as a Solana-based perpetual futures decentralized exchange and is planned to add artificial intelligence capabilities for strategic trading tools. “For Pacifica, we didn’t raise any funds, it’s completely bootstrapped,” Wang said, adding that some institutional investors faced compliance restrictions when speaking with former FTX personnel during the bankruptcy proceedings.

Bankman-Fried and Ellison were indicted in December 2022 after FTX collapsed and entered bankruptcy proceedings. Ellison accepted a plea deal to testify against Bankman-Fried and 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, with a scheduled release in 2044. In September, his lawyers reportedly asked the Supreme Court to overturn his fraud conviction, and he has also applied for a pardon from US President Donald Trump.