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 pink flags.
First shared by Inner Tech Emails, which posts emails from the tech trade that seem in public information, Morgan Stanley banker Michael Grimes reached out to Musk on behalf of Bankman-Fried providing a partnership on his Twitter funding.
In response to the e-mail information, Grimes instructed Musk that the then-FTX CEO was curious about investing as much as $5 billion in Musk’s Twitter takeover, and probably 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 change.Believes in your mission, Main Democratic donor. So thought it was probably price an hour tomorrow…
Can discuss when you could have extra time, it’s not pressing but when tomorrow works it might 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 trying to decentralize the platform.
Later within the electronic mail change, 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 electronic mail change on Twitter on Friday.
Correct. He set off my bs detector, which is why I didn’t suppose he had $3B.
— Elon Musk (@elonmusk) November 12, 2022
The e-mail change occurred lower than seven months earlier than Bankman-Fried, FTX, its buying and selling arm Alameda Analysis and a number of 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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