Elon Musk Shares Thoughts on FTX Founder Sam Bankman-Fried – This Is What He Said

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Elon Musk. Source: A video screenshot, Elon Musk Zone/YouTube

Tesla and SpaceX CEO Elon Musk has claimed that he never trusted FTX founder and former CEO Sam Bankman-Fried.

Back in March, when Musk was trying to raise money to finance his $44 billion Twitter buyout, Bankman-Fried reached out to the billionaire through intermediaries to express his interest in investing in Twitter.

According to leaked text messages, Michael Grimes, Musk’s banker on the Twitter deal, said billionaire SBF was offering “at least $3 billion” to help Musk buy Twitter, and “social media blockchain integration”. wanted to talk about the potential of

Musk asked Grimes, “Does Sam really have $3 billion in liquid?” Doubts are being shown about the ability of the FTX CEO to generate this amount.

Twitter user Internal Tech Email, which has over 347k followers on the social media platform, shared a copy of the text on Friday. Musk replied, “Exactly. He set off my BS detector, which is why I didn’t think he had $3B.”

text message start came out As part of legal proceedings back in September, it showed that SBF was willing to contribute up to $5 billion to acquire Twitter.

Last week, SBF Told He did not invest in Twitter because of crypto-related differences in the social network’s vision.

FTX files for bankruptcy as regulators come after it

as informed ofFTX’s race for investors to repair its balance sheet finally came to an end on Friday when the company filed for Chapter 11 bankruptcy, sparking a sudden and shocking decline for one of the world’s largest cryptocurrency exchanges. Gone.

Notably, the US arm of the crypto exchange, FTX US, has also been implicated in the proceedings, despite the former CEO’s claims that his US exchange was fine.

Regulators around the world began freezing the troubled exchange’s assets after the bankruptcy filing.

Initially, the Securities Commission of the Bahamas sealed up Assets of FTX Digital Markets Limited, the platform’s Bahamian subsidiary. The agency said it believes the freeze is a “prudent course of action” and is aimed at stabilizing the company and securing assets.

Shortly after, two top-level regulatory agencies, the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ), revealed they were investigating FTX following its sudden outburst this week.

Japan’s Kanto Local Finance Bureau – responsible for regulating crypto exchanges in the country – also banned FTX from taking deposits from customers. Australia’s financial regulator sided, placing FTX Australia into administration, Australian Financial Review informed of.

Meanwhile, amid all the chaos, reports claimed that FTX wallets were being drained in a series of mysterious transactions. began to operate Friday late. Watchers concluded that FTX had either been hacked or that insiders were making off with client funds in the latest incendiary developments in the FTX collapse.

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