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Elon Musk strongly denies SBF holding Twitter shares rumors – crypto.news

Crypto Mogul SBF and Elon Musk Talked About Joint Twitter Purchase, Private Texts Show

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Elon Musk gleefully mocked the collapse of the crypto exchange FTX via Twitter. Musk claimed that when he first met FTX founder Sam Bankman-Fried, his “b****** meter was a red lining.”

The Secret Text of Sam Bankman-Fried and Elon Musk

On May 5, Musk seemed friendly to SBF. Two weeks after closing on a $44 billion deal to buy Twitter, he texted Bankman-Fried to ask him to convert the $100 million in shares he’d held for a few months into privately held Twitter.

The previously unknown message, which was analyzed by financial journalists Semafor, started a series of events that have brought together two people whose companies are both in different difficulties. Bankman-Fried owns a large portion of the now privately held and heavily leveraged FTX balance sheet, created after the acquisition was completed on Oct. 28 and distributed to investors earlier this month, which classified Twitter stock as an “illiquid” asset. Twitter.

Musk, who initially declined to comment, later tweeted Wednesday that Twitter has no investment from SBF/FTX and that Bankman-Fried “doesn’t actually own shares of Twitter as a private company.”

This summer, the text chat part was revealed in a Delaware court when Twitter sued an unprepared Musk to complete the deal.

After receiving a positive message from Bankman-Fried about how excited he was about Musk’s plans for the platform, Musk questioned his intentions. However, SBF argued that he was keeping a low profile in preparation for an upcoming congressional hearing and could not make further investments in Twitter. Still, he reportedly had about $100 million in stock that he was willing to contribute to the purchase.

Recent events

At the beginning of this year, Bankman-Fried began raising a stake to buy Twitter. (Bankman-Fried has also invested in Semafor.)

According to Delaware court documents, Bankman philanthropy adviser Will MacAskill contacted Musk on March 29 — a week before the Tesla CEO disclosed his ownership — to promote a “potential collaboration” between the two billionaires. He assured Musk that convincing Bankman-Fried to commit up to $3 billion to such a proposal would be “easy.”

Michael Grimes, Musk’s banker, later said Bankman-Fried expected to receive at least $5 billion and perhaps as much as $10 billion. A few days before the controversial text message exchange, Bankman-Fried and Musk had a phone call that led to Bankman-Fried deciding not to invest, according to Axios and Semaphore.

But according to FTX, as Musk had advised, he exceeded his interest.

Musk has publicly disparaged his alleged current Twitter co-owner since FTX’s death. In a Twitter Spaces chat on Nov. 12, the day after FTX filed for bankruptcy, he said, “Everybody was talking about him like he’s walking on water and he’s got a trillion dollars. And that [was] not my impression; something is off.”



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