Netflix Invested Its Budget In Dogecoin And Earned Millions.

Conquest series director Carl Erik Rinsch reportedly earned millions from a single Dogecoin transaction, leveraging approximately $11 million from the budget allocated for the Netflix series. Known for his success in stocks and cryptocurrencies, Rinsch made a significant profit through this Dogecoin investment.

The director of Netflix's sci-fi series 'Conquest,' Carl Erik Rinsch, reportedly took $4 million from the series budget to open a Dogecoin derivative position and made $27 million during the process.

According to an article published in The New York Times on November 22, director Carl Erik Rinsch requested an additional $14 million from Netflix. The article detailed the behind-the-scenes events of the sci-fi series 'Conquest,' which was produced with a budget of $55 million, although not a single episode has been released yet.

Reportedly, in March 2020, Netflix allocated an initial budget of $44 million to buy Rinsch's idea. However, 16 months later, the director requested an additional $11 million to complete the series, and Netflix accepted the request, provided that he finishes the project.

Rinsch reportedly used $10.5 million of the new funds in the stock market, engaging in risky transactions on the options market for S&P 500 and pharmaceutical companies. Allegedly, he lost about $6 million in these trades within a few weeks. Transferring the remaining $4 million to the crypto exchange Kraken, Rinsch invested it entirely in Dogecoin. According to the investigation, in May 2021, Rinsch made a withdrawal of $27 million.

Wild Netflix story.

In 2018, it bought a sci-fi series from director Carl Rinsch. By 2020, Netflix spent $44m on the show.

Production was floundering and Rinsch demanded $11m more. He took the funds and quickly lost ~$6m in pharma option YOLOs.

A bit later, he took $4m and… pic.twitter.com/JnvY09Op9A

— Trung Phan (@TrungTPhan) November 22, 2023

It has been revealed that during a live chat with an alleged Kraken representative, Rinsch said, 'Thank you. May God protect crypto.'

Rinsch's divorce attorney, representing his ex-wife in the divorce case, claimed that Rinsch spent the income he earned on high-end furniture, designer clothes, a luxury watch worth over $380,000, five Rolls Royces, and a Ferrari, totaling about $9 million.

According to The New York Times, in a confidential arbitration process initiated by Rinsch against Netflix, he claimed that the streaming service contract was breached, and he should be compensated $14 million. However, Netflix countered that it owed nothing to Rinsch, characterizing his demands as extortion.

Rinsch claimed that the $9 million expenditure was for the set design of the Conquest series. In a subsequent lawsuit, he argued that this money belonged to him, and Netflix owed him an additional $14 million.

The case was reportedly heard with a mediator at the beginning of November, and a decision is expected to be made soon.