Elon Musk speaks out about Sam Bankman-Fried and FTX

Following an exchange revealed this morning between Elon Musk and his banker in the purchase of Twitter, the CEO of Tesla and SpaceX said that he had never had the slightest confidence in Sam Bankman-Fried. Indeed, the ex-CEO of FTX had offered Elon Musk to participate in the takeover of Twitter for 5 billion dollars, which the latter then refused.

https://cryptoast.fr/elon-musk-express-sujet-sam-bankman-fried-ftx/

Elon Musk would never have trusted Sam Bankman-Fried

FTX’s various revelations have caused so much of a stir that Elon Musk himself wanted to give his opinion on the situation and its share of revelations concerning Sam Bankman-Fried.

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Responding to a tweet revealing an exchange dating from last April between Elon Musk and his banker in the purchase of Twitter, Michael Grimes, the CEO of Tesla and SpaceX said that Sam Bankman-Fried had ” triggered his bullshit detector “.

The exchange in question reveals that Sam Bankman-Fried, then CEO of FTX, showed significant interest in the takeover of Twitter by Elon Musk. Thus, the ex-billionaire would have issued the possibility of investing “at least 3 billion dollars” and helping Elon Musk for “the technical part concerning the integration of the blockchain on the social network”.

On this subject, the CEO of Tesla also replied that the “Twitter blockchain” was impossible for reasons of bandwidth and latency.

In addition, Elon Musk explicitly questioned his banker about the veracity of Sam Bankman-Fried’s remarks, going so far as to question the cash he would have really owned. Later in the morning, Elon Musk published a meme for the less explicit as to his view of the former CEO of FTX.

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Elon Musk speaks in a Twitter Space

In a Twitter Space launched this morning and still in progress at the time of writing these lines, Elon Musk spoke by invitation to speak about the FTX hack and on Sam Bankman-Fried in front of more than 60,000 people. Here is the transcription of the dialogue concerning his contact with SBF:

“To be honest, I had never heard of him. But then I had a ton of people tell me that he had, you know, huge amounts of money that he wanted to invest in the Twitter business. And I talked with him for about half an hour. And I know my bullshit detector was red. It was like this guy was bullshit, that was my impression. »

Elon Musk then reveals that the ex-CEO of FTX enjoyed a reputation that did not inspire confidence :

“Then I was like, man, everyone, including the big investment banks, everyone was talking about him like he was walking on water and had billions of dollars. And that’s not what I thought…this guy is just…there’s something wrong, and he has no capital, and he’s not going to make it. That was my prediction”

Finally, the now owner of Twitter advised cryptocurrency holders to store them on a cold wallet rather than on a cryptocurrency exchange. He also expressed confidence for the future of Bitcoin (BTC), Ether (ETH) and Dogecoin (DOGE):

“I think there is probably a future for Bitcoin, Ethereum, and DOGE. I can’t really talk about the others. But if you have any of these three in a cold wallet, and outside of an exchange, I think it will work fine. »

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Image source: Steve Jurvetson on Flickr (CC BY 2.0)

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