March 29, 2024 7:23 AM | 2 min learn |
Tech billionaire Elon Musk as soon as dismissed Sam Bankman-Fried’s (SBF) try and arrange a “Blockchain Twitter,” elevating questions in regards to the seriousness of SBF and questioning if he even had the cash to do it within the first place.
What Occurred: Musk appeared dismissive about SBF’s proposal to implement blockchain expertise on Twitter, now X.
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He underscored the technical difficulties related to this, whereas additionally doubting SBF’s monetary place to undertake one thing like this.
Musk was responding to funding banker Michael Grimes, who can also be the Managing Director of Morgan Stanley.
Grimes reached out to Musk to make him conscious of SBF’s makes an attempt to companion with the tech billionaire.
Grimes’ messages present SBF was considering partnering with Musk even when their “Blockchain Twitter” concept didn’t excite Musk – the FTX founder was prepared to assist Musk purchase X by selecting up a stake himself within the social media platform.
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Musk agreed on one situation: he was not considering a “laborious blockchain debate” with SBF.
Grimes talked about that SBF had verbally indicated a possible funding of as much as $10 billion however later revised it to $5 billion in writing.
“He is into you. We will push Sam to subsequent week however I do consider you’ll like him,” Grimes stated, attempting to persuade Musk to fulfill SBF.
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Musk then questioned if Bankman-Fried even had $3 billion in liquid property, to which Grimes responded within the affirmative.
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Bankman-Fried finally didn’t spend money on X, shedding curiosity after a telephone name with Musk.
The X proprietor additionally confirmed the dialog in a submit, stating that SBF “set off my bs detector, which is why I didn’t assume he had $3B.”
Why It Issues: This incident provides to the continued saga of Bankman-Fried, who was sentenced to 25 years in jail on Thursday for his position in a market manipulation scheme.
This scheme concerned the usage of a buying and selling algorithm to govern the worth of a cryptocurrency, resulting in vital monetary losses for different market contributors.
Bankman-Fried’s authorized troubles have additionally included allegations of wire fraud and cash laundering, which he has vehemently denied.
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Learn Subsequent: Barack Obama Throws Shade At Jeff Bezos, Elon Musk’s Area Colonization Ambitions: ‘I Look At Them Like, What Are You Speaking About?’
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