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

 

 

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

Elon Musk on SBF’s alleged investment on Twitter

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

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

Semafor launched on October 18, just a few weeks before FTX The crisis begins. The crypto exchange filed for Chapter 11 bankruptcy on November 11, and SBF stepped down as CEO.

Musk tweeted on Wednesday: “Semafor is owned by SBF. This is a large volume conflict of interest in your report.” Responding to an editor of the publication who insisted he took the money from SBF, Musk tweeted:

Like I said, neither I nor Twitter receive any investment from SBF/FTX. Your post is a lie.

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

 

The Semafor reporter took the text message as confirmation that Bankman-Fried definitely owned a $100 million stake in Twitter and did so when Musk bought social media company in late October and made it private.

Musk responded clarifying that all public shareholders of the social media company are allowed to put their shares on Twitter as a private company. However, the Tesla boss noted that Bankman-Fried didn’t topple anything, so he doesn’t own a stake in Twitter. “Your report makes it sound untrue.”

 

The article also alleged that Musk texted Bankman-Fried and “invited him to transfer $100 million worth of shares.” However, from the text message it appears that the SBF itself texted Musk, and the Tesla CEO didn’t even know who the text message was from.

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

It sounds like him [Elon Musk] really didn’t know who he was talking to, and only gave the same answer he gave publicly – that major shareholders could transfer their shares to the new business. Musk has denied that it ever actually happened.

Twitter users also attacked the SBF-backed publication for a conflict of interest. “It’s super myth that they attack ANYONE near SBF but then either leave him alone or barely get scratched with the slight criticism that you have to read 3-4 times over and over. before it sounds like criticism,” one person pointed out. Another user asked: “How much money did Semafor take from SBF and what does that financing deal entail? That seems important.”