Bitcoin News and Finance
Elon Musk Confirms Bankman-Fried Owns 0% of Twitter Despite Reports Claiming a $100M Stake Skip to main content

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

Elon Musk Confirms Sam Bankman-Fried Owns 0% of Twitter Despite Reports Claiming He Owns $100M Stake

Tesla CEO and Twitter chief Elon Musk has clarified that Sam Bankman-Fried, former CEO of collapsed crypto exchange FTX, does not own any stake in Twitter. This followed an article published by a Bankman-Fried-backed publication suggesting that Musk took $100 million from the former FTX executive.

Elon Musk on SBF’s Alleged Investment in Twitter

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

The confirmation followed an article published Wednesday by Bankman-Fried-backed publication Semafor indicating that SBF owns a $100 million stake in the social media platform. The article claimed to have obtained a private text message between Musk and Bankman-Fried as proof of the stake.

Semafor debuted on Oct 18, just a few weeks before the FTX meltdown began. The crypto exchange filed for Chapter 11 bankruptcy on Nov. 11 and SBF stepped down as the CEO.

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

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

The editor of the SBF-backed publication tweeted the text message in question Thursday. In the text message, Bankman-Fried claimed to have over $100 million in Twitter (TWTR) shares that he would like “to roll” if possible. Musk responded with a standard reply he gave to all Twitter shareholders. “You’re welcome to roll,” he wrote. However, the text message does not confirm whether the transaction happened.

Semafor’s reporter took the text message as confirmation that Bankman-Fried definitely owns a $100 million stake in Twitter, and did when Musk bought the social media company at the end of October and took it private.

Musk responded clarifying that all public shareholders of the social media company were allowed to roll their stock into Twitter as a private company. However, the Tesla boss noted that Bankman-Fried did not roll anything over, so he owns no stake in Twitter. “Your reporting made it falsely sound like he did.”

The article also claimed that Musk texted Bankman-Fried and “invited him to roll the $100 million stake.” However, it appears from the text message that it was SBF who texted Musk and the Tesla CEO did not even know who the text message was from.

Many people on Twitter agreed with Musk that the text message does not prove that SBF actually rolled any shares into Twitter, the private company. One user described:

Sounds like he [Elon Musk] didn’t really know whom he was talking to, and was just giving the same answer he gave publicly — that large shareholders could roll over their shares to the new business. Musk has denied that it ever actually happened, too.

Twitter users also attacked the SBF-backed publication for its conflict of interest. “Its extremely wild how they’ll attack ANYONE within proximity to SBF but then leave him untouched or barely scraped with slight criticism that you have to read like 3-4 times over again before it sounds like criticism,” one pointed out. Another user asked: “How much money did Semafor take from SBF and what did that financial agreement entail? That seems important.”

What do you think about the SBF-backed publication claiming that Bankman-Fried gave Elon Musk $100 million even though Musk said repeatedly that he did not? Let us know in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory