Over the past few days, the collapse and subsequent bankruptcy of cryptocurrency house FTX has rocked the crypto world, losing almost all of its capital in just a day. About this event, Elon Musk celebrated on his Twitter account.
A recent report with withheld data found that Sam Bankman-Fried, also known as SBF, founder and until recently CEO of the cryptocurrency platform, was a key investor in Musk’s recent acquisition of Twitter.
SBF, the secret investor behind the Twitter purchase
Former FTX CEO Sam Bankman-Fried is currently in the eye of the storm controversial collapse recently suffered from its platform and is currently risking lawsuits and a court investigation.
Although SBF that after the scandal moved to the BahamasExplaining his take on the case, he did not make clear how he intends to help the aggrieved customers of his collapsed crypto platform as he is no longer its CEO.
From his sidewalk on Twitter, Elon Musk, current CEO and owner of the social network, aimed all his arrows at SBF, through posts to memesuntil harsh criticism on the “gentle treatment” of the press in the face of this controversial case.
“Everyone talked about him like he walked on water and had a million dollars”Musk said in a Twitter Spaces conversation on Nov. 12, just a day after FTX’s bankruptcy was announced. “And that wasn’t my impression…this guy…there’s something wrong and he has no capital and he’s not going to make it. That was my prediction.”were part of his words.
Before Elon Musk took over all of Twitter, Bankman-Fried also expressed his opinion Desire to acquire the social networkbut he stayed on the road with his individual target to state his intention to be a part of the transaction Musk later completed, according to information already revealed during the process, when the fellow Tesla CEO wanted to back down on his offer of $44 billion.
Amidst this scenario, there is one aspect that Musk has not addressed publicly: SBF eventually participated in this transaction, contributing millions to buy Twitter. In other words, the person who was the target of Musk’s public attacks is actually his partner.
This information, initially treated as confidential, was published in a traffic light report. According to that report, the relationship between the two businessmen dates back at least to March, when SBF advisor William MacAskill texted Musk to insist a “joint effort” between the billionaires was possible.
Although the precursor to SBF’s expressed intentions to collaborate was acknowledged while Elon Musk was on trial, the tycoon did not announce that his contribution was finally taking effect. According to Semafor, Musk contacted SBF again on May 5, two weeks before the signing of the purchase agreement, demanding an amount of $100 million, a number lower than the more than $10 billion originally offered, but which they certainly do not represent less than a percentage of control of the company.
Despite the fact that SBF’s contribution was not the largest received, this is still a significant contribution compared to, for example, the $500 million received from Binance, and Musk’s silent stance on this of course will be the claim worth for more than one explanation given that.
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