Economy

The author of Big Short will bring the rise and fall of Bankman-Fried to the big screen

The author of Big Short is ready to bring the rise and fall of cryptocurrency mogul Sam Bankman-Fried to the big screen.

A book and movie are expected to be made about the spectacular rise and fall of cryptocurrency mogul Sam Bankman-Fried and his FTX exchange.

Michael Lewis, author of the bestsellers The Big Short and Moneyball, which were made into movies starring Brad Pitt, recently met Bankman-Fried, who is under house arrest on fraud charges.

Lewis, 62, spoke with the former crypto billionaire for several hours last week at the home of Bankman-Fried’s parents in California.

Crypto Wunderkind: FTX Founder Sam Bankman-Fried Is Taken In Handcuffs During His Extradition To The United States

The collaboration has been ongoing for six months, the New York Post reported, during which time Bankman-Fried suffered a spectacular fall from grace.

The 30-year-old touted as the cryptocurrency wunderkind has shared conference stages with the likes of Tony Blair and Bill Clinton.

Despite being worth nearly £22bn at its peak, his fortunes tumbled when FTX filed for bankruptcy last month after an £8bn fundraising bid failed.

The billionaire resigned as FTX boss on the day of the collapse and was arrested in the Bahamas earlier this month.

The US Justice Department says it orchestrated “one of the largest financial frauds in American history.”

Bankman-Fried has been released after posting £200m bail and awaits trial on fraud and money laundering charges.

The former cryptocurrency boss is accused of stealing billions of FTX clients to offset losses at his Alameda Research hedge fund.

He will fly back to New York for a court hearing next week, his prospects complicated after two associates agreed to testify against him.

Caroline Ellison, Bankman-Fried’s ex-girlfriend and former director of Alameda, and Gary Wang, co-founder of FTX, pleaded guilty and agreed to cooperate with an investigation into the fraud that led to the stock market’s abrupt collapse.

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Jacky

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