Constance Wang, the former chief operating officer of FTX, has publicly disputed how major media outlets and an upcoming Netflix series have covered the cryptocurrency exchange's collapse.
Wang's most pointed criticism targets Netflix's upcoming scripted series The Altruists, which frames FTX's downfall around the relationship between founder Sam Bankman-Fried and Caroline Ellison, who ran sister trading firm Alameda Research. The series, produced by Higher Ground and scheduled to premiere on November 19, 2026, stars Julia Garner as Ellison.
In an October 9, 2026 post on X, Wang responded strongly to the series trailer, stating it made her "physically throw up." She later called the romantic framing of the narrative "laughable."
Wang's Account of Internal Operations
According to Wang, FTX's core team never exceeded 200 employees and routinely worked 16 to 18 hour days. She says most staff members were unaware that Bankman-Fried and Ellison were romantically involved until after the exchange filed for bankruptcy.
Wang also disputed portrayals of a party culture at FTX, asserting that the company's internal ethos centered on global impact and effective altruism rather than excess. She noted that she appears in the Netflix series without having been consulted.
The Bankruptcy and Wang's Role
The FTX collapse exposed an $8 to $9 billion shortfall in customer funds, traced to Alameda Research's misuse of assets. Wang joined FTX as COO in early 2019 and became co-CEO during the exchange's final months. She was subject to a year-long Department of Justice investigation but was never charged.
Since the collapse, Wang has moved to a new venture. In early 2025, she co-founded Pacifica, a crypto trading platform that reported $10 billion in trading volume in October 2026.
