Former FTX COO says Netflix’s 'Altruists' trailer 'made me physically throw up'

The full-length trailer for Netflix's FTX-inspired series "The Altruists" dropped this week, drawing criticism over its portrayal of former FTX CEO Sam Bankman-Fried and former Alameda Research CEO Caroline Ellison. But former FTX executive Constance Wang said the trailer's depiction of the company's collapse hit much closer to home.

"So many people have DM'd me about this trailer and I’ll be honest, watching it made me physically throw up," Waing said Friday in a post on X.

Wang served as FTX's COO beginning in early 2019 before becoming co-CEO in its final months, until the exchange collapsed in November 2022. She said the trailer's depiction of the company bore little resemblance to her experience working there.

"I was the last one out of the Bahamas after Sam got extradited," Wang said. "I lost everything I had on it and it took me a long time to get over, so I have zero interest in defending the people who caused this. The media loves the story that FTX blew up because we were all partying in the Bahamas, but the place I worked looked nothing like that."

Wang said FTX had fewer than 200 employees, many of whom worked 16- to 18-hour days with "barely" any time to sleep.

The exchange's collapse followed a liquidity crisis that exposed its close financial ties to Alameda 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 also took issue with the trailer's portrayal of Ellison and Bankman-Fried's relationship. Much of the trailer focuses on their romance alongside the familiar rise-and-fall narrative, with Anthony Boyle portraying SBF and Emmy-winning actor Julia Garner portraying Ellison.

"I worked with Caroline and never once saw her get aggressive like she does in this trailer," Wang said. "She's quiet and mild, and often lost in her own thoughts. Most of us didn't even know she and Sam were dating until we read about it after the bankruptcy, and I never saw him so much as put an arm around anyone."

The eight-episode limited series premieres on Netflix on Nov. 19.

"FTX's collapse ruined so many people's lives, including ours, and Netflix decided to make it a love story," Wang concluded. "Shame on you."

Wang co-founded trading platform Pacifica in early 2025, according to her LinkedIn profile.