Former FTX COO Constance Wang Slams Netflix's 'The Altruists' for Misrepresenting FTX Collapse

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Constance Wang, ex-FTX COO, criticized Netflix’s *The Altruists* for distorting the FTX collapse in its trailer. She called the portrayal misleading and said it reduced the crisis to a "love story." Wang emphasized the real-world damage caused by the exchange hack and questioned the show’s focus. The on-chain news community is closely watching how the series frames the events.

Former FTX chief operating officer Constance Wang has criticized Netflix’s upcoming series “The Altruists,” accusing its trailer of misrepresenting the exchange’s collapse and her experience.

In an October 9 post on X, Wang said the trailer made her “physically throw up” and questioned its focus on the relationship between Sam Bankman-Fried and Caroline Ellison.

Wang Challenges Netflix’s FTX Portrayal

Wang joined FTX in 2019 and became co-CEO in the months before its November 2022 collapse. She said the company had fewer than 200 employees, many working 16 to 18 hours daily.

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Wang also said she was the last person to leave the Bahamas after Bankman-Fried’s extradition and lost everything she had invested in FTX. She disputed the trailer’s portrayal of Ellison as aggressive, describing her former colleague as quiet. According to Wang, most employees learned about their relationship only after FTX filed for bankruptcy.

FTX Collapse Shapes Netflix Series

Bankman-Fried was sentenced to 25 years in prison after his 2023 fraud conviction. Ellison, who pleaded guilty and cooperated with prosecutors, received a two-year sentence in 2024.

Wang accused Netflix of turning the exchange’s collapse into a romance story despite the harm caused to those affected. “FTX’s collapse ruined so many people’s lives, including ours, and Netflix decided to make it a love story,” she wrote. “Shame on you.”

The eight-episode series is scheduled to premiere on November 19. Wang co-founded trading platform Pacifica in early 2025.

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