Elon Musk Explains Why He Rejected FTX Founder’s $3 Billion Offer to Buy Twitter

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Yuri Molchan

The cen­tibil­lion­aire has revealed why he turned down the offer of Sam Bankman-Fried ear­li­er this year

Con­tents

@TechEmails Twit­ter account has shared screen­shots of cor­re­spon­dence between Michael Grimes, who the same account ear­li­er this year referred to as “Musk’s banker”.

In that cor­re­spon­dence, Grimes sug­gest­ed that Elon Musk met with FTX founder Sam Bankman-Fried to dis­cuss their poten­tial part­ner­ship regard­ing pur­chas­ing Twitter.

“He set off by BS detector”

Accord­ing to Grimes, Bankman-Fried offered to invest from $1 — $5 bil­lion in the acqui­si­tion deal. He also offered to help Musk tran­sit Twit­ter, once it is bought, to a blockchain basis.

Musk then explained his vision that Twit­ter on blockchain in impos­si­ble due to inabil­i­ty of the peer-to-peer net­work to sup­port band­width and laten­cy requirements.

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In the cor­re­spon­dence, Musk asked Grimes if Bankman-Fried def­i­nite­ly had $1-$5 billion.

Today, on Novem­ber 12, Elon Musk respond­ed to that tweet of @TechEmails, con­firm­ing that the screen­shots were gen­uine. He also pro­vid­ed the rea­son why he reject­ed offer of the FTX founder – “he set off by BS detec­tor”, Musk tweeted.

For this rea­son, he did not believe that the founder of FTX had the mon­ey which he offered to invest in the pur­chase of Twitter.

Now, Musk is slam­ming Bankman-Fried on Twit­ter, post­ing a Porn­hub meme about FTX CEO.

FTX gets hacked, funds leaving for anon wallet

Word has been spread on Twit­ter that hack­ers have attacked FTX and are with­draw­ing mas­sive amounts of cryp­to. Teth­er has frozen a trans­ac­tion, car­ry­ing slight­ly over $31 million.

Elon Musk, in his recent tweet, acknowl­edged that Twitter’s con­tri­bu­tion to FTX “meltdown/ransack” being tracked in real-time.

Accord­ing to Coin­Desk, about $600 mil­lion in cryp­to has been stolen from the exchange which has just filed for bankruptcy.

@PeckShieldAlert has been report­ing that cryp­to is being with­drawn from var­i­ous FTX wal­lets and is being sent to an anony­mous wal­let 0x59AB…32b.

Mul­ti­ple screen­shots of cryp­to being moved from FTX have been pub­lished in the thread.



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