Sunday, November 13, 2022
HomeAltcoinElon Musk Confirms Encounter With FTX, Says Sam Bankman-Fried 'Set Off My...

Elon Musk Confirms Encounter With FTX, Says Sam Bankman-Fried ‘Set Off My BS Detector’

Tech billionaire and new Twitter CEO Elon Musk says he turned down a gathering with Sam Bankman-Fried earlier this yr after the previous crypto billionaire gave off some purple flags.

First shared by Inside Tech Emails, which posts emails from the tech trade that seem in public data, Morgan Stanley banker Michael Grimes reached out to Musk on behalf of Bankman-Fried providing a partnership on his Twitter funding.

In accordance with the e-mail data, Grimes instructed Musk that the then-FTX CEO was excited by investing as much as $5 billion in Musk’s Twitter takeover, and doubtlessly serving to to implement blockchain to the social media platform.

Says Grimes,

“May do $5b if [everyone’s] imaginative and prescient[s] lock. Would do the engineering for social media blockchain integration. [He] based FTX crypto alternate.Believes in your mission, Main Democratic donor. So thought it was doubtlessly price an hour tomorrow…

Can discuss when you’ve got extra time, it’s not pressing but when tomorrow works it may get us $5 billion in fairness in an hour.”

Musk stated that due to Twitter’s bandwidth necessities, a blockchain integration would require monumental nodes which might defeat the aim of making an attempt to decentralize the platform.

Later within the e mail alternate, Musk casts doubt on whether or not Bankman-Fried truly has the money for such a deal.

“Does Sam even have $3 billion liquid?”

Musk, a crypto supporter and Dogecoin (DOGE) fanatic, confirmed the authenticity of e mail alternate on Twitter on Friday.

The e-mail alternate occurred lower than seven months earlier than Bankman-Fried, FTX, its buying and selling arm Alameda Analysis and several other different related entities went bankrupt, in what’s considered the largest wipeout of wealth from the crypto trade in historical past.

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