Constance Wang, FTX’s former chief operating officer, is challenging how several major publications and Netflix’s upcoming series The Altruists portrayed the cryptocurrency exchange’s final months. She says FTX’s core team never exceeded 200 employees, routinely worked 16 to 18 hours a day, and did not widely know about Sam Bankman-Fried’s romantic relationship with Caroline Ellison until after the bankruptcy. Wang calls the series’ romantic framing laughable and says FTX’s internal ethos focused on global impact rather than party culture, while also disputing her portrayal without having been consulted. The collapse nevertheless exposed an $8 billion to $9 billion shortfall in customer funds tied to Alameda Research’s misuse of assets. Wang, who became co-chief executive in the exchange’s final months, was investigated by the Department of Justice for a year but was never charged; she co-founded the Pacifica trading platform in 2025, which reported $10 billion in trading volume in October 2026.
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