Elon Musk explains why he rejected FTX founder’s $3 billion offer to buy Twitter

Youri Molchan

The centibillionaire has revealed why he turned down Sam Bankman-Fried’s offer earlier this year

Contents

  • “He left by the BS detector”
  • FTX gets hacked, funds leave for anon wallet

The @TechEmails Twitter account shared screenshots of correspondence between Michael Grimes, whom the same account earlier this year called “Musk’s banker”.

In this correspondence, Grimes suggested that Elon Musk sat down with FTX founder Sam Bankman-Fried to discuss their potential partnership regarding the purchase of Twitter.

“He left by the BS detector”

According to Grimes, Bankman-Fried offered to invest between $1 billion and $5 billion in the acquisition deal. He also offered to help Musk transition Twitter, once purchased, to a blockchain base.

Musk went on to explain his view that Twitter on the blockchain in the impossible due to the inability of the peer-to-peer network to support bandwidth and latency requirements.

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In the correspondence, Musk asked Grimes if Bankman-Fried definitely had between $1 billion and $5 billion.

Today, November 12, Elon Musk replied to this tweet from @TechEmails, confirming that the screenshots are genuine. He also provided the reason he rejected the FTX founder’s offer – “he left with a BS detector,” Musk tweeted.

Because of this, he didn’t believe the FTX founder had the money he was offering to invest in the Twitter takeover.

Now Musk is slamming Bankman-Fried on Twitter, posting a pornhub meme about the CEO of FTX.

FTX gets hacked, funds leave for anon wallet

Rumor has spread on Twitter that hackers have attacked FTX and are withdrawing huge amounts of crypto. Tether froze a transaction, raising just over $31 million.

Elon Musk, in his recent tweet, acknowledged that Twitter’s contribution to FTX’s “merger/rancage” was being tracked in real time.

According to CoinDesk, around $600 million worth of crypto was stolen from the exchange which just filed for bankruptcy.

@PeckShieldAlert reported that crypto is withdrawn from various FTX wallets and sent to anonymous wallet 0x59AB…32b.

Several screenshots of FTX’s moved crypto have been posted in the thread.

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