{"id":14795,"date":"2022-11-25T02:49:43","date_gmt":"2022-11-25T02:49:43","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/elon-musk-confirms-bankman-fried-owns-0-of-twitter-despite-reports-claiming-a-100m-stake-featured-bitcoin-news\/"},"modified":"2022-11-25T02:49:43","modified_gmt":"2022-11-25T02:49:43","slug":"elon-musk-confirms-bankman-fried-owns-0-of-twitter-despite-reports-claiming-a-100m-stake-featured-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/elon-musk-confirms-bankman-fried-owns-0-of-twitter-despite-reports-claiming-a-100m-stake-featured-bitcoin-news\/","title":{"rendered":"Elon Musk Confirms Bankman-Fried Owns 0% of Twitter Despite Reports Claiming a $100M Stake \u2013 Featured Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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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.<\/strong><\/p>\n

Elon Musk on SBF\u2019s Alleged Investment in Twitter<\/h2>\n

Elon Musk has clarified that Sam Bankman-Fried (SBF), FTX\u2019s co-founder and former CEO, currently owns 0% of Twitter.<\/p>\n

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.<\/p>\n

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

Musk tweeted Wednesday: \u201cSemafor is owned by SBF. This is a massive conflict of interest<\/a> in your reporting.\u201d Responding to an editor of the publication insisting that he took money from SBF, Musk tweeted:<\/p>\n

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As I said, neither I nor Twitter have taken any investment from SBF\/FTX. Your article is a lie.<\/p>\n<\/blockquote>\n

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 \u201cto roll\u201d if possible. Musk responded with a standard reply he gave to all Twitter shareholders. \u201cYou\u2019re welcome to roll,\u201d he wrote. However, the text message does not confirm whether the transaction happened.<\/p>\n

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Semafor\u2019s reporter took the text message as confirmation that Bankman-Fried definitely owns a $100 million stake in Twitter, and did when Musk bought<\/a> the social media company at the end of October and took it private.<\/p>\n

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. \u201cYour reporting made it falsely sound like he did.\u201d<\/p>\n

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The article also claimed that Musk texted Bankman-Fried and \u201cinvited him to roll the $100 million stake.\u201d 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.<\/p>\n

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:<\/p>\n

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Sounds like he [Elon Musk] didn\u2019t really know whom he was talking to, and was just giving the same answer he gave publicly \u2014 that large shareholders could roll over their shares to the new business. Musk has denied that it ever actually happened, too.<\/p>\n<\/blockquote>\n

Twitter users also attacked the SBF-backed publication for its conflict of interest. \u201cIts extremely wild how they\u2019ll 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,\u201d one pointed out. Another user asked: \u201cHow much money did Semafor take from SBF and what did that financial agreement entail? That seems important.\u201d<\/p>\n

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.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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