Apple pays $5M for SBF film rights 💸
Michael Lewis book spells the rise and fall of FTX founder Sam Bankman-Fried. Thodex CEO gets 11,000-year jail in Turkey. El Salvador's BTC curriculum for schools. Crypto influencer training in France
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Apple has acquired the film rights to Michael Lewis's upcoming book, "Going Infinite: The Rise and Fall of a New Tycoon," for a staggering $5 million, according to Hollywood gossip site The Ankler.
Author's Exclusive Access to Bankman-Fried
Michael Lewis, renowned for his financial books like "The Big Short" and "Moneyball," conducted in-depth interviews with Sam Bankman-Fried, the founder of FTX, over several months before the collapse of the crypto exchange and Bankman-Fried's subsequent arrest.
This unique access provided Lewis with invaluable insights and makes the book a highly anticipated release.
Apple's Competitive Bid
The Ankler's report indicates that Apple emerged as the victor in a competitive bidding war for the film rights. Lewis arrived at the $5 million deal after intense negotiations.
Streaming giants Netflix and Amazon could have posed significant competition in the bidding process, but Apple's financial clout ultimately sealed the agreement.
Film or Streaming Release Uncertain
The distribution format for "Going Infinite" remains uncertain. Apple has primarily focused on content for its streaming service, Apple TV+. However, in March of the same year, the tech giant announced a $1 billion investment in producing films for traditional cinematic release.
Lewis's History of Success in Hollywood
Michael Lewis has a track record of turning his successful books into Hollywood hits. "Moneyball" and "The Blind Side" both became blockbuster films.
Moneyball explored how data analytics transformed the Oakland A's baseball team, earning $110.2 million worldwide and six Academy Award nominations.
The Blind Side, the heartwarming story of a homeless young man's rise to American football stardom, grossed $300 million and won two Oscars, including Best Picture.
Bankman-Fried's Ongoing Involvement
Despite his arrest and imprisonment at Brooklyn's Metropolitan Detention Center, Sam Bankman-Fried continued to grant Michael Lewis interviews for "Going Infinite."
Lewis described these conversations as "rich and interesting," offering readers a remarkable firsthand account of Bankman-Fried's world as it crumbled around him.
Upcoming Release and Trial
"Going Infinite" is scheduled for release on October 3, and Michael Lewis's unparalleled access to Bankman-Fried may propel it onto best-seller lists. Bankman-Fried's trial is set to start next month, though there's a possibility it could be delayed until next year, as suggested by a judge at the end of August.
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TTD Curriculum 📙
El Salvador's Ministry of Education has launched a pilot program in collaboration with Bitcoin projects Bitcoin Beach and My First Bitcoin to introduce Bitcoin education in public schools.
El Salvador made headlines when it became the first country to adopt Bitcoin as an official currency two years ago. While it has faced technical challenges, the move has boosted tourism in the country.
Training for Public School Teachers: The program aims to train 150 public school teachers about Bitcoin. These teachers will then return to their respective schools to educate students about the cryptocurrency.
Early Adoption of Cryptocurrency in Higher Education: The adoption of cryptocurrency and blockchain technology in education isn't new. In 2018, a Coinbase report revealed that 42 of the world's top 50 universities already offered at least one course on cryptocurrency and blockchain.
Preparation of Salvadoran Teachers: John Dennehy, the founder of My First Bitcoin, expressed confidence in the preparedness of Salvadoran teachers for this initiative. They have undergone training and improvement of a Bitcoin diploma for over a year.
Bitcoin Diploma Curriculum: The Bitcoin Diploma includes a 187-page student workbook covering economic education, the evolution of money, and critiques of traditional fiat currency. It is available in multiple languages.
The curriculum draws inspiration from "The Bitcoin Standard" by Saifedean Ammous, an advisor to El Salvador President Nayib Bukele. It explains concepts like currency debasement.
My First Bitcoin's Prior Initiatives: The non-profit organisation has already educated 25,000 Salvadoran students about Bitcoin since its launch in 2021. They developed an open-source Bitcoin Diploma that has been used to educate Ministry of Education staff and is now being used to train teachers.
My First Bitcoin collaborates with educational initiatives in over 20 countries and has received interest from two other Latin American governments for potential Bitcoin education partnerships. They are also working on a pilot program in Mexico.
John Dennehy emphasised that while El Salvador is the current focus, their mission is to spread Bitcoin education globally.
TTD Jail ⛓️
Faruk Fatih Özer, the former CEO of the now-defunct Turkish crypto exchange Thodex, received an astonishing prison sentence of 11,196 years for his involvement in aggravated fraud, leading a criminal organisation, and money laundering.
Shocking Verdict and the Legal Battle: The trial brought together 21 defendants, each facing potential sentences totalling an astonishing 40,564 years in prison.
However, the outcome was varied, with 16 of the 21 defendants being acquitted and four of the seven imprisoned individuals eventually released due to insufficient evidence.
The remaining defendants received a range of prison terms, reflecting the varying degrees of their involvement in different crimes related to Thodex.
Thodex's Rise, Fall and a Mysterious Closure: Founded in 2017, Thodex had once been the largest cryptocurrency exchange in Turkey, boasting over 400,000 users and managing nearly $2 billion in crypto deposits.
Thodex's downfall began with an abrupt pause in trading. Initially attributed by Özer to an undefined external investment opportunity, this move left investors puzzled and anxious.
Disappearance and Discovery and Shifting Narratives: Özer's story evolved rapidly. Within a day, he changed his explanation, alleging that cyberattacks had forced the trading halt. Despite this, he reassured users that their funds were safe and promised to reimburse them.
Following Thodex's collapse, Faruk Fatih Özer mysteriously disappeared, eventually surfacing in Albania, specifically in Vlorë, a major coastal city, in August 2022.
Impact on Turkey: The Thodex collapse was especially jarring for Turkey, as it occurred alongside the devaluation of the Turkish lira and subsequent inflation, serving as a stark reminder of the risks associated with cryptocurrency investments.
TTD Certification 👋🏻
France is prioritising transparency and investor protection by launching a specialised training program for crypto and finance influencers.
What is it about?
Responsible Influence Certificate The AMF and ARPP have introduced the Responsible Influence Certificate in Finance program, following concerns about inadequate disclosure in online advertising.
Retail Investor Protection Marie-Anne Barbat-Layani, AMF Chair, underscores the importance of clear and accurate information, especially when influencers are involved in paid promotions in the highly regulated finance sector.
Focus on Crypto and Finance The training module caters specifically to crypto and finance influencers, offering guidance on investment products, services, and addressing crypto-related challenges.
Verification and Compliance Influencers must pass a 25-question exam, scoring at least 75%, to earn the Responsible Influence Certificate in Financial Advertising. The ARPP will monitor and revoke certificates for non-compliance.
Industry Impact Some brands have made this certificate a collaboration requirement, aiming to professionalize the influencer space and protect investors from complex or risky financial products.
Encouraging Responsibility AMF Chair Barbat-Layani urges professionals working with influencers to ensure certification. This move promotes responsible and ethical practices in financial influencer marketing.
TTD Surfer 🏄
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