Michael Lewis sells film rights for book about FTX collapse

By | November 14, 2022

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

Michael Lewis, creator of silver ball and The large courtroom (left) and Sam Bankman-Fried, founding father of FTX (proper)
Picture: David Levenson/Tom Williams/CQ-Roll Name, Inc (Getty Photos)

Michael Lewis, creator of silver ball and The large courtroom, has been following FTX founder Sam Bankman-Fried for six months to write down his subsequent e-book. And whereas the potential ending to Lewis’ e-book clearly modified final week since FTX’s $32 billion implosion, Lewis is already shopping for the movie rights, in line with a brand new report from the pinner.

Matthew Snyder of expertise company CAA, which represents Lewis, reportedly emailed Hollywood bigwigs on Friday explaining that Lewis had interviewed Bankman-Fried for month. Lewis and Bankman-Fried talked about all the things from the FTX founder’s childhood to his early success on Wall Road, aand it appears sure that Lewis may have the within story on all the things that occurred earlier than FTX filed for chapter. Friday.

“After all, the occasions of the previous week offered a dramatic shock on the finish of the story. It additionally highlighted the rivalry between Bankman-Fried and Binance director Chnagpeng [sic] Zhao. Michael compares them to Luke Skywalker and the Darth Vader of crypto,” reads Snyder’s e mail, in line with a screenshot posted by The Ankler.

“Michael hasn’t written something but, however the story has change into 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 typically referred to as, refers to how CZ shares despatched FTX right into a tailspin. CZ purchased a 20% stake in FTX in 2019, however fell out with Bankman-Fried, in line 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 this token final week, inflicting the home of playing cards to crumble.

Lewis had hinted over the summer time that he was onto one thing massive, telling Monetary Information he had been launched to somebody inside crypto business by a mutual buddy.

“I actually do not wish to reveal precisely what I am writing about. However I discovered a personality that I can write via – it weirdly connects Flash Boys, The large courtroom and Liar’s Poker”, Lewis stated Monetary information in August, referring to his different books.

“I am mainly over the subsequent yr going to be at that particular person’s hip. I do not know what the story is like but,” Lewis stated.

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

Bankman-Fried, 30, based FTX in 2019, a crypto trade that reached a valuation of $32 billion in an extremely quick time. SBF, as he’s typically referred to as, grew to become a billionaire whereas promoting himself as an moral wealthy. He was a promoter ofefficient altruism“, believed to present hundreds of thousands annually, and is a vegan who has donated to largely left-wing political causes, together with President Joe Biden.

However it all got here crashing down final week, thanks largely to Bankman-Fried allegedly transferring billions of {dollars} in shopper funds FTX to sister group Alameda Analysis, the place it made bets it could not hedge. . The SEC and the DOJ would have open investigations within the former billionaire, even earlier than the corporate filed for chapter on Friday. To make issues even weirder, FTX was reportedly ‘hacked’ over the weekend and had round $600 million in crypto drained.

Bankman-Fried, who was personally price round $26 billion at his peak, is outwardly nonetheless within the Bahamas, the place FTX was based mostly, though there are rumors that he’s attempting to flee to a rustic with out an extradition treaty with america – a choice that clearly makes an enormous scene in any movie that’s in the end produced.

Michael Lewis is not any stranger to Hollywood, and the rights to his work are just about assured to fetch a fairly penny. The creator’s e-book silver ball was tailored for the large display screen for Brad Pitt and Jonah Hill in 2011, and his e-book The large courtroom was tailored for Steve Carell, Ryan Gosling, Brad Pitt and Christian Bale in 2015. Each movies had been big hits, with silver ball taking in $110 million out of a $50 million funds and The large courtroom grossing $133 million on a funds of $50 million.

Apart from the record-breaking velocity of FTX’s implosion, the story of Bankman-Fried’s downfall options many moments any screenwriter would love, together with a Love relationship with 10 individuals and rumors of widespread amphetamine use. Properly, not a lot rumors just like the tweets posted very publicly by Caroline Ellisonthe top of Alameda Analysis and a romantic associate of Bankman-Fried.

Image for article titled Michael Lewis Already Selling Movie Rights to Book About FTX's $32 Billion Collapse

Screenshot: Twitter

Lewis will certainly have loads of materials to work from in relation 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 Faculty. Her aunt, Linda P. Fried, can be dean of the Columbia College Faculty of Public Well being.

There are additionally little tidbits from outdated interviews with Bankman-Fried now surfacing as odd particulars that will or might not make the film. For instance, Bankman-Fried gave an interview during which he defined that he thought books had been for losers. Significantly.

“I’m very skeptical of books. I do not imply that no e-book is price studying, however I imagine in one thing fairly near that. I feel should you wrote a e-book, you screwed up, and it ought to have been a six-paragraph weblog put up,” Bankman-Fried stated in an interview that has since been launched. deleted from web.

Perhaps SBF ought to have opened a e-book or two on how Ponzi schemes end up. It is often not nice for the individuals operating them.