Elon Musk Confirms Bankman-Fried Owns 0% of Twitter Regardless of Experiences Claiming a $100M Stake

Tesla CEO and Twitter chief Elon Musk has clarified that Sam Bankman-Fried, former CEO of collapsed crypto trade FTX, doesn’t personal any stake in Twitter. This adopted an article printed by a Bankman-Fried-backed publication suggesting that Musk took $100 million from the previous FTX govt.

Elon Musk on SBF’s Alleged Funding in Twitter

Elon Musk has clarified that Sam Bankman-Fried (SBF), FTX’s co-founder and former CEO, at the moment owns 0% of Twitter.

The affirmation adopted an article printed Wednesday by Bankman-Fried-backed publication Semafor indicating that SBF owns a $100 million stake within the social media platform. The article claimed to have obtained a personal textual content message between Musk and Bankman-Fried as proof of the stake.

Semafor debuted on Oct 18, just some weeks earlier than the FTX meltdown began. The crypto trade filed for Chapter 11 chapter on Nov. 11 and SBF stepped down because the CEO.

Musk tweeted Wednesday: “Semafor is owned by SBF. This can be a large conflict of interest in your reporting.” Responding to an editor of the publication insisting that he took cash from SBF, Musk tweeted:

As I stated, neither I nor Twitter have taken any funding from SBF/FTX. Your article is a lie.

The editor of the SBF-backed publication tweeted the textual content message in query Thursday. Within the textual content message, Bankman-Fried claimed to have over $100 million in Twitter (TWTR) shares that he would love “to roll” if attainable. Musk responded with a normal reply he gave to all Twitter shareholders. “You’re welcome to roll,” he wrote. Nevertheless, the textual content message doesn’t affirm whether or not the transaction occurred.

Semafor’s reporter took the textual content message as affirmation that Bankman-Fried undoubtedly owns a $100 million stake in Twitter, and did when Musk bought the social media firm on the finish of October and took it non-public.

Musk responded clarifying that every one public shareholders of the social media firm have been allowed to roll their inventory into Twitter as a personal firm. Nevertheless, the Tesla boss famous that Bankman-Fried didn’t roll something over, so he owns no stake in Twitter. “Your reporting made it falsely sound like he did.”

The article additionally claimed that Musk texted Bankman-Fried and “invited him to roll the $100 million stake.” Nevertheless, it seems from the textual content message that it was SBF who texted Musk and the Tesla CEO didn’t even know who the textual content message was from.

Many individuals on Twitter agreed with Musk that the textual content message doesn’t show that SBF truly rolled any shares into Twitter, the non-public firm. One consumer described:

Seems like he [Elon Musk] didn’t actually know whom he was speaking to, and was simply giving the identical reply he gave publicly — that enormous shareholders may roll over their shares to the brand new enterprise. Musk has denied that it ever truly occurred, too.

Twitter customers additionally attacked the SBF-backed publication for its battle of curiosity. “Its extraordinarily wild how they’ll assault ANYONE inside proximity to SBF however then depart him untouched or barely scraped with slight criticism that you need to learn like 3-4 instances over once more earlier than it feels like criticism,” one identified. One other consumer requested: “How a lot cash did Semafor take from SBF and what did that monetary settlement entail? That appears necessary.”

Tags on this story

What do you concentrate on the SBF-backed publication claiming that Bankman-Fried gave Elon Musk $100 million despite the fact that Musk stated repeatedly that he didn’t? Tell us within the feedback part beneath.

Kevin Helms

A scholar of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source techniques, community results and the intersection between economics and cryptography.

Picture Credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This text is for informational functions solely. It’s not a direct supply or solicitation of a proposal to purchase or promote, or a advice or endorsement of any merchandise, companies, or corporations. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the writer is accountable, immediately or not directly, for any injury or loss brought about or alleged to be attributable to or in reference to using or reliance on any content material, items or companies talked about on this article.

Learn disclaimer


Leave a Reply

Your email address will not be published. Required fields are marked *