TechFlow news, according to Cointelegraph, the director of Netflix's sci-fi series "Conquest" has reportedly invested $4 million from the show's budget into Dogecoin, ultimately earning $27 million.
In March 2020, Netflix provided Rinsch with an initial budget of $44 million. Sixteen months later, Rinsch requested additional funds, and Netflix agreed, sending him another $11 million on the condition that he complete the series.
However, Rinsch used $10.5 million of the new funds to trade in the stock market, losing nearly $6 million within weeks by trading pharmaceutical company stocks and S&P 500 index. With slightly over $4 million remaining, he transferred the money to cryptocurrency exchange Kraken and invested entirely in DOGE, eventually withdrawing approximately $27 million when liquidating his position in May 2021.
Rinsch has initiated a secret arbitration proceeding against Netflix, claiming the streaming service breached contract terms and owes him $14 million in compensation. Netflix denies the allegations and views his claim as extortion.
