Apple has reportedly paid a staggering $5 million for the rights to an upcoming book about Sam Bankman-Fried. The book, yet to be released, delves into the life of the renowned entrepreneur and founder of FTX cryptocurrency exchange. With this substantial investment, Apple aims to captivate readers through an intriguing account of Bankman-Fried’s journey and significant contributions to the world of finance. This scoop sheds light on Apple’s commitment to bringing exciting and captivating content to its users, further establishing the tech giant as a powerhouse in the entertainment industry.
Apple, the world’s most valuable company with a market cap nearing $3 trillion, has reportedly acquired the rights to an upcoming book about Sam Bankman-Fried, the founder of FTX.
This book is expected to be one of many documentaries and TV series that will be released about Bankman-Fried and his former empire.
Apple Secures Rights to Book on Sam Bankman-Fried
FTX’s collapse was the biggest news in the cryptocurrency industry in the second half of 2022, and perhaps even in the finance world. The empire, once led by Samuel Bankman-Fried, experienced a rapid downfall, resulting in significant financial losses for investors.
While several former FTX and Alameda executives pleaded guilty to allegations of scamming users and investors, Bankman-Fried himself has consistently refused to do so. His high-profile case is scheduled to begin on October 3.
Interestingly, October 3 will also mark the release of Michael Lewis’ book titled “Going Infinite: The Rise and Fall of a New Tycoon,” which focuses on a year in Bankman-Fried’s life.
According to a recent report, the rights to write the book attracted significant attention and led to a bidding war, ultimately won by Apple for a price of $5 million.
The Ankler, a credible source, describes this sum as “unprecedented” for an unpublished book. For context, previous record-breaking deals include $6 million for “The Da Vinci Code” and $2 million for the first four movies of the Harry Potter series.
The Story of SBF’s Incarceration
The book will primarily focus on a year of Sam Bankman-Fried’s life, covering his rise, downfall, arrest, and extradition. As many may recall, the former FTX boss was arrested in The Bahamas, where he and other FTX Alameda executives resided, and was subsequently transferred to the US.
Initially released on a $250 million bond, Bankman-Fried spent months living in his parents’ house. However, he was later sent back to jail due to reports of him tampering with witnesses in his case, including his former girlfriend Caroline Ellison.
The prison where Bankman-Fried is currently held has been notorious for its grim conditions. It is reportedly designed to accommodate 1,000 people, but its actual occupancy exceeds 1,600. Additionally, being vegan has posed challenges for Bankman-Fried, as his lawyers stated that he had to survive on bread and salt.
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