H’wood FTX Frenzy as Michael Lewis reveals he spent 6 months with the founder

OOPS Sam Bankman-Fried testified before Congress in May. (Tom Williams/CQ-Roll Call, Inc via Getty Images)

In this matter:

  • Full CAA email revealed Michael Lewis‘ The next book is about Sam Bankman Fried with at least one plot point centered on the rivalry with Binance Changpeng Zhao

  • The role of the former CAA agent (and Elon Musk Dude) Michael Kives with Bankman Fried

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With the breathtaking collapse of crypto With the FTX exchange still babbling through the financial markets, the entertainment industry jumped into action over the weekend with a far more pressing concern: Who grabs the rights to this story?

We now know at least part of how this works. The city was in an uproar on Saturday after an email revealing this was circulated Michael Lewis – the most talented and successful non-fiction author working today – had embedded himself in the FTX founder Sam Bankman Fried over the past six months and made the collapsing cryptocurrency exchange the centerpiece of his next book. The ankle received the email from the CAA agent Matthew Snyderoriginally sent to potential buyers on Friday (CAA did not immediately return a request for comment). The email reveals that not a word of the book was written but, well, Things just can’t wait:

Snyder’s email:

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In August, Lewis hinted his new book in one Interview with financial news.

“I really don’t want to reveal exactly what I’m writing about,” he said, “but I’ve found a character to write about — it connects in a weird way flash boys, The great short film and Liar’s Poker.

“I think it’s possible that it will be framed as a crypto book, but it won’t be a crypto book. It’s going to be about this really unusual character. You will learn all about crypto and what a screwed up market structure in the United States and whatnot.”

For those earning points, Binance, the world’s largest cryptocurrency exchange, had agreed to acquire FTX, the second-largest cryptocurrency exchange, early last week after FTX was unable to process customer withdrawals of assets between FTX due to panic over crypto markets and reported Bankman-Fried commingling and his hedge fund. In a shocking twist, Binance pulled out of the deal citing “corporate due diligence,” setting the stage for FTX to file for bankruptcy and Bankman-Fried’s resignation as CEO.

FTX had a one-time valuation of $32 billion and significant ties to the entertainment industry. then-spouse Tom Brady and Gisele Bundchenas well as LarryDavidMemorably starred in much-ridiculed commercials praising the company. Stephen Curry and Naomi Osaka also paid endorsers.

Industry insiders too to have speculated on the impact of the FTX bust on one of their own: the former CAA agent Michael Kives.

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