How a famous director invested $4M in Dogecoin (DOGE).

The director of the Netflix sci-fi series Concussion reportedly took $4 million from the show's budget to invest in Dogecoin and eventually returned $27 million. “47 Ronin” helmer Carl Erich Rinsch has secured major funding from Netflix for the science fiction series.

However, instead of just funneling these funds into the series, Rinsch used the money to explore ventures into the stock and cryptocurrency markets as a unique venture.

Netflix Director $27M Crypto Gamble

The New York Times chronicles the behind-the-scenes drama of “Conquest,” which began when Netflix poured $55 million into Rinsch's ambitious sci-fi series. However, despite the huge budget, the streaming giant has yet to see an episode.

March 2020 was a critical moment in the Conquest saga, 16 months after Netflix greenlit Rinsch's vision with an initial budget of $44 million, the director sought more money. Netflix wired an additional $11 million on the condition that the series be completed.

Instead of putting the money into production, Rinsch invested $10.5 million in the stock market. But his options on pharmaceutical companies and the S&P 500 reportedly cost him nearly $6 million in just a few weeks.

Undeterred, Rinsch headed to the cryptocurrency market, transferring the remaining $4 million to the popular exchange Kraken. With nerves of steel, he went all in on Dogecoin. Since Rinsch liquidated his holdings in May 2021, he made $27 million in gambling profits. A conversation with a Kraken representative captured his gratitude, saying, “Thank you, and God bless crypto.”

Following the crypto windfall was massive spending. Rinsch has spent nearly $9 million in donations, including high-end furniture, designer clothes, a luxury watch worth more than $380,000, five Rolls Royces and a Ferrari. These expenses, revealed in divorce proceedings by a forensic accountant hired by Rinsch's ex-wife, raise questions about the director's financial prudence.

Rinsch wants $14 million from Netflix

The New York Times also reported that Rinsch has filed a confidential arbitration against Netflix, alleging breach of contract and $14 million in damages. Netflix has denied any obligation to Rinsch, describing its interests as “shaking.”

According to Rinsh's information, he said that the items purchased at a cost of nearly 9 million dollars were a series of proposals for victory. However, in a later lawsuit against Netflix, he argued that the money was indeed his and that he was entitled to an additional $14 million. The case went before an arbitrator in November, so a ruling on the case is expected soon.