Former FTX COO says Netflix's 'Altruists' trailer 'made me physically throw up'
A former FTX executive calls the new Netflix trailer inaccurate
Netflix released the full trailer for "The Altruists," an upcoming eight-episode limited series about the collapse of crypto exchange FTX. Former FTX COO Constance Wang responded forcefully, saying watching the trailer made her "physically throw up" because of how it portrays the company and its leaders.
The series, which premieres on Netflix on November 19, centers on former FTX CEO Sam Bankman-Fried and former Alameda Research CEO Caroline Ellison. It stars Anthony Boyle as Bankman-Fried and Emmy-winning actress Julia Garner as Ellison.
Wang disputes the portrayal of FTX's culture
Wang served as FTX's COO starting in early 2019 and became co-CEO in the exchange's final months before its collapse in November 2022. She said the trailer's depiction of the company bore little resemblance to her experience.
"The place I worked looked nothing like that," Wang said in a Friday post on X. She added that FTX had fewer than 200 employees, many of whom worked 16- to 18-hour days with "barely" any time to sleep.
Wang said she was the last one out of the Bahamas after Bankman-Fried was extradited. She also said she lost everything she had on FTX and took a long time to recover from the collapse.
Questions about the Ellison-Bankman-Fried relationship on screen
Wang also pushed back on how the trailer portrays Ellison's personality and her relationship with Bankman-Fried. She said she never saw Ellison get aggressive, as the trailer suggests, describing her as "quiet and mild" and often lost in her own thoughts.
According to Wang, most employees did not know Ellison and Bankman-Fried were dating until they read about it after the bankruptcy filing. She also said she never saw Bankman-Fried put his arm around anyone.
The legal aftermath that preceded the series
FTX's collapse followed a liquidity crisis that exposed its close financial ties to Alameda Research and the misuse of customer funds. Bankman-Fried was convicted on seven fraud and conspiracy counts in November 2023 and sentenced to 25 years in prison. Ellison pleaded guilty, cooperated with prosecutors, and testified against him before receiving a two-year prison sentence in September 2024.
Wang's criticism of Netflix's framing
Wang ended her post by saying: "FTX's collapse ruined so many people's lives, including ours, and Netflix decided to make it a love story. Shame on you."
Wang co-founded trading platform Pacifica in early 2025, according to her LinkedIn profile.
What is confirmed
The trailer for "The Altruists" has been released. The eight-episode series premieres on Netflix on November 19. Constance Wang is a former FTX COO and co-CEO who publicly criticized the trailer's portrayal of the company and its key figures.
What is still unclear
It is not yet known whether Netflix or the show's creators have responded to Wang's criticisms. The accuracy of other portrayals in the series beyond what Wang addressed has not been independently verified.
Why this matters for the crypto community
The FTX collapse had widespread impact across the cryptocurrency industry, eroding trust in major exchanges and leading to tighter regulatory scrutiny. How the story is told in popular media can shape public understanding of what went wrong and who was responsible.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.