Know Everything About the Relationship of SBF and CZ
The tumultuous relationship between SBF and CZ has played out to some extent in articles and on Twitter
FTX experienced a massive bank run with its cryptocurrency exchange last year
Sam Bankman-Fried and Changpeng Zhao, the creator of Binance,
Will be the subject of a documentary that explores their complex relationship.
A new documentary concentrating on the volatile relationship between Sam Bankman-Fried and one of his ferocious opponents, Binance founder Changpeng Zhao, will depict the FTX saga and the events that resulted in the collapse of the cryptocurrency exchange.
According to The Hollywood Reporter, Fortune, and Unrealistic Ideas, a non-scripted production company co-founded by American actors Mark Wahlberg, Stephen Levinson, and Archie Gips, collaborated on the project.
"The tense relationship between SBF and CZ has played out to some large extent in articles and on Twitter, but this definitive documentary will give people a 360-degree personal look at the entire FTX saga," Fortune editor-in-chief Alyson Shontell said in a statement shared in reports.
The documentary will examine how Zhao and Bankman-Fried became two of the most important figures in the cryptocurrency industry and how their relationship shifted between allies and rivals. Zhao was born into a prominent academic family with political connections, whereas Fried fled China to Canada when he was 12 years old.
Zhao was at the core of FTX's spectacular collapse last year. Binance's CEO officially announced plans to sell all of the company's holdings in FTX's native token at the beginning of November.
According to CZ, the choice was made to "control post-exit risk" as a result of "new reports" regarding FTX. Binance "won't support people that push against other industry players behind their backs," he added at the time.
As a result of CZ's remarks, FTX experienced a massive bank run. Zhao's action was critical to further investigations into FTX's fund management with its sister company, Alameda Research.
On December 14, another significant event in the crypto entrepreneurs' relationship was revealed. Investor Kevin O'Leary testified before a United States Senate committee about conversations he had with Bankman-Fried in the days before FTX declared bankruptcy.
O'Leary claimed at the hearing that "these two [SBF and CZ] were at war with each other in an unregulated market [...] with this fantastic business in terms of growth.", and one intentionally put the other out of business."
Several film projects are exploring the rise and fall of Bankman-crypto Fried's empire. According to reports, Amazon's video streaming service Prime is creating an eight-episode limited series about the crypto exchange's scandals. In addition, author and financial journalist Michael Lewis, best known for his book The Big Short, spent six months with Bankman-Fried prior to FTX's collapse for a forthcoming book and has reportedly sold the film rights to Apple.
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