Former FTX COO Constance Wang expressed strong disapproval of Netflix’s upcoming drama series about the exchange’s collapse, stating that the trailer was upsetting within the first 30 seconds. Wang, who spoke during an episode of the Chain Reaction X spaces show on Monday, found the portrayal of former FTX executives, particularly Alameda Research CEO Caroline Ellison, inaccurate and emotionally distressing. She also noted that the depiction of Sam Bankman-Fried, the former FTX CEO, did not align with her personal experience, describing him as more socially awkward than shown in the trailer.
Wang served as COO of FTX, which once ranked among the world’s largest cryptocurrency exchanges before its dramatic collapse in November 2022. The exchange’s downfall was triggered by the misappropriation of customer funds, resulting in an $8.9 billion shortfall. FTX’s sister company, Alameda Research, used these funds to cover trading losses, an incident now known as the Alameda gap. Netflix’s eight-episode series, titled The Altruists, is set to premiere globally on November 19, 2026.
Following FTX’s collapse, Wang founded Pacifica, a crypto trading platform initially launched as a Solana-based perpetual futures decentralized exchange. She plans to integrate artificial intelligence capabilities to enhance the platform’s trading infrastructure. Wang revealed that Pacifica was entirely bootstrapped, with no external funding, partly due to compliance restrictions faced by institutional investors when engaging with former FTX personnel during bankruptcy proceedings.
Bankman-Fried and Ellison were indicted in December 2022 following the exchange’s collapse. Ellison accepted a plea deal to testify against Bankman-Fried and was released from prison in January 2026 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. His lawyers recently petitioned the Supreme Court to overturn his fraud conviction, and he has also applied for a pardon from US President Donald Trump.