According to Deadline, an agreement has been reached by Apple for the book rights to Michael Lewis’ account of the demise of businessman Sam Bankman-Fried and his bitcoin trading platform FTX.
Before Bankman-cryptocurrency Fried’s exchange crashed earlier this month, the author of Moneyball, The Big Short, and The Blind Side worked with him for six months. In response to claims of fraud and improper handling of customer funds, Bankman-Fried resigned as CEO of FTX, which had been estimated to be valued up to $26 billion before filing for Chapter 11 bankruptcy.
Deadline’s sources estimate the deal to be in the mid-seven figures because a feature picture adaptation of the story is anticipated. According to the article, if Apple closes successfully, it will have defeated rivals like Amazon and Netflix.
The collapse of Bankman-crypto Fried’s business, which compelled him to list his Bahamas resort for sale, will be attempted to explain in Lewis’ book. He and FTX are currently being looked at for conceivable securities crimes in the US and other nations. Celebrities Larry David and Tom Brady were sued for their roles in FTX’s promotion following its demise.