{"id":196180,"date":"2023-11-23T03:39:16","date_gmt":"2023-11-23T03:39:16","guid":{"rendered":"https:\/\/tokenstalk.info\/?p=196180"},"modified":"2023-11-23T03:39:16","modified_gmt":"2023-11-23T03:39:16","slug":"director-yolod-4m-of-netflix-budget-into-dogecoin-made-27m-report","status":"publish","type":"post","link":"https:\/\/tokenstalk.info\/crypto\/director-yolod-4m-of-netflix-budget-into-dogecoin-made-27m-report\/","title":{"rendered":"Director YOLO'd $4M of Netflix budget into Dogecoin, made $27M: Report"},"content":{"rendered":"

The director of Netflix\u2019s sci-fi series Conquest<\/em> reportedly used $4 million from the show\u2019s budget to bet on Dogecoin (DOGE) and made $27 million in the process.<\/p>\n

Now the director, Carl Erik Rinsch, wants another $14 million from Netflix, according to a Nov. 22 report in The New York Times citing a confidential arbitration proceeding.<\/p>\n

The Times report details the behind-the-scenes drama of Rinsch\u2019s sci-fi Netflix series Conquest<\/em>, which the streaming giant doled out $55 million to make, but is yet to receive an episode.<\/p>\n

In March 2020, 16 months after Netflix bought Rinsch\u2019s idea and provided him with an initial budget of $44 million, the director asked for more funds. Netflix obliged and wired him $11 million on the condition he finished the show.<\/p>\n

According to financial statements obtained by the Times Rinsch used $10.5 million from the fresh funding to gamble on the stock market and allegedly lost nearly $6 million in just a few weeks by placing options bets on pharmaceutical companies and the S&P 500, <\/p>\n

With a little over $4 million left, Rinsch transferred the money to the crypto exchange Kraken and went all in on DOGE. When he liquidated in May 2021, he withdrew around $27 million, per an account statement seen by the Times<\/p>\n

\u201cThank you and god bless crypto,\u201d Rinsch wrote in a chat with a Kraken representative.<\/p>\n

With the proceeds, Rinsch allegedly spent nearly $9 million on high-end furniture, designer clothing, an over $380,000 luxury watch, five Rolls-Royces and a Ferrari, according to a forensic accountant hired by Rinsch\u2019s ex-wife for divorce proceedings.<\/p>\n

Related: <\/em><\/strong>Crypto traders are looking at Dogecoin (DOGE) again \u2014 Here\u2019s why<\/em><\/strong><\/p>\n

The Times said Rinsch launched a confidential arbitration proceeding against Netflix, claiming the streaming service breached its contract and owes him $14 million in damages. Netflix denies owing Rinsch anything and hasreferred to his demands as a shakedown.<\/p>\n

<\/p>\n

In a deposition, Rinsch said the items in his almost $9 million spending spree were props for Conquest<\/em>. He later argued in his case against Netflix that the money was actually his and he\u2019s owed another $14 million.<\/p>\n

A ruling on the case is expected soon as it was heard before an arbitrator earlier in November.<\/p>\n

Magazine: <\/em><\/strong>Cryptocurrency trading addiction \u2014 What to look out for and how it is treated<\/em><\/strong><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The director of Netflix\u2019s sci-fi series Conquest reportedly used $4 million from the show\u2019s budget…<\/p>\n","protected":false},"author":4,"featured_media":196179,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nDirector YOLO'd $4M of Netflix budget into Dogecoin, made $27M: Report - Tokens Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tokenstalk.info\/crypto\/director-yolod-4m-of-netflix-budget-into-dogecoin-made-27m-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Director YOLO'd $4M of Netflix budget into Dogecoin, made $27M: Report - Tokens Talk\" \/>\n<meta property=\"og:description\" content=\"The director of Netflix\u2019s sci-fi series Conquest reportedly used $4 million from the show\u2019s budget...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tokenstalk.info\/crypto\/director-yolod-4m-of-netflix-budget-into-dogecoin-made-27m-report\/\" \/>\n<meta property=\"og:site_name\" content=\"Tokens Talk\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-23T03:39:16+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tokenstalk.info\/wp-content\/uploads\/2023\/11\/Director-YOLOx27d-4M-of-Netflix-budget-into-Dogecoin-made-27M-Report.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tokenstalk.info\/crypto\/director-yolod-4m-of-netflix-budget-into-dogecoin-made-27m-report\/\",\"url\":\"https:\/\/tokenstalk.info\/crypto\/director-yolod-4m-of-netflix-budget-into-dogecoin-made-27m-report\/\",\"name\":\"Director YOLO'd $4M of Netflix budget into Dogecoin, made $27M: Report - 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