Sam Bankman-Fried Wanted With Elon Musk To Build Twitter, But Was Rejected By Tesla CEO

Elon Musk was told by an advisor to Sam Bankman-Fried, founder of cryptocurrency exchange FTX Trading Limited, that the crypto millionaire was interested in purchasing Twitter and applying blockchain technology on the social media network.

The incident is detailed in a series of private texts by Musk that was made public as part of Twitter’s lawsuit against the SpaceX founder after he backed out of a $44 billion bid to buy the social media giant.

On March 29, MacAskill messaged Musk, referring to a poll Musk published regarding Twitter rules and free speech. MacAskill offered Bankman-Fried’s contact information, advising Musk to contact him if he is interested in a prospective cooperative endeavor in that area.

“I’m not sure if this is what’s on your mind, but my collaborator Sam Bankman-Fried has for a while been potentially interested in purchasing it and then making it better for the world.”

Musk replied to the text by inquiring if Sam Bankman-Fried possessed vast sums of money. And MacAskill stated that SBF was valued at around $24 billion at the time and was willing to contribute up to $8 billion to $15 billion in finance.

Musk exchanged a few text conversations with FTX CEO Sam Bankman-Fried in April. Some of the top executives in the crypto and banking field contacted Musk to see if he could find common ground with SBF, who had a huge vision for blockchain and social media integration.

Musk, however, declined the proposal, stating that he was not interested in a laborious blockchain argument with SBF. Musk explained to Morgan Stanley banker Michael Grimes:

“Blockchain Twitter isn’t possible, as the bandwidth and latency requirements cannot be supported by a peer-to-peer network, unless those ‘peers’ are absolutely gigantic, thus defeating the purpose of a decentralized network”.

As CoinCu reported, the FTX rival – Binance, revealed that it was an equity investment in billionaire technology entrepreneur Elon Musk’s acquisition of Twitter.

Coincu will continue to update the situation related to SBF, you can find out more information through this article.

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