SBF Was Keen on Investing Up to $15 Billion in Twitter

On Friday, October 28, the world’s richest man Elon Musk efficiently completed his deal to purchase Twitter. Lots has been taking place in the house since with Musk announcing some content material moderation plans and way more.

As per the most recent particulars. Sam Bankman-Fried, chief of crypto change FTX had proven some early curiosity in investing in Twitter when Musk was buying an enormous stake round March this 12 months. As per a collection of Musk’s non-public texts made public throughout Twitter’s lawsuit, the FTX chief had proven curiosity in implementing blockchain expertise on Twitter.

Will MacAskill, a prime advisor to Bankman-Fried, texted Musk on behalf of SBF. On March 29, he messaged Musk writing:

“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.”

Interestingly, Musk responded again asking whether or not SBF had “huge amounts of money?” MacAskill responded by saying that SBF was price a staggering $24 billion at the moment and was prepared to make investments wherever between $8 billion to $15 billion.

Musk and SBF’s Exchange of Texts Over Twitter

In April, Musk exchanged just a few textual content messages with FTX chief Sam Bankman-Fried. Some of the highest executives from the crypto and the banking house bought in contact with Musk explaining if he can get on frequent floor with SBF who had a grand imaginative and prescient on blockchain and social media integration.

But Musk turned down the concept saying that he wasn’t in a “laborious blockchain debate” with SBF. Speaking to Morgan Stanley banker Michael Grimes, Musk explained:

“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”.

Many leaders have proven curiosity in constructing social media platforms on a blockchain platform. These leaders consider that blockchain would assist democratize consumer information. However, not sufficient work has occurred in this route up to now.

Bhushan is a FinTech fanatic and holds aptitude in understanding monetary markets. His curiosity in economics and finance draw his consideration in direction of the brand new rising Blockchain Technology and Cryptocurrency markets. He is repeatedly in a studying course of and retains himself motivated by sharing his acquired information. In free time he reads thriller fictions novels and generally discover his culinary abilities.

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