Elon Musks long-winding road to owning Twitter started back in March when it was revealedhe was the companys largest shareholder according to a securities filing. In anticipation of acquiring the company, Musk began meeting with other wealthy people who couldinvest with him.
Destruction Of Capital: One of those is now disgraced FTX founder Sam Bankman-Fried, who quickly went from one of the heroes of the crypto industry to arguably its biggest disappointment. FTX allegedly used billions of dollars of customer deposits to fund risky crypto bets at Bankman-Frieds Alameda Research.
Matt Binder, a reporter and writer at Mashable, shared screenshots of court records documenting texts between Musk, Bankman-Fried and others. The texts were made public during Musks legal proceedings with Twitter.
there will never be a funnier day to repost these text messages:
here are the released texts from the Twitter lawsuit between Elon Musk, a professor, a banker, and even Sam Bankman-Fried of FTX himself about SBF possibly getting in on Musk's Twitter deal earlier this year pic.twitter.com/CLc8phY9o7 Matt Binder (@MattBinder) November 11, 2022
In one of the texts, Musk askedWill MacAskill, known for helping popularize "effective altruism,"if Bankman-Fried actually has $3b liquid.
Well, the answer to that question now is almost certainly no, with Bloombergs Billionaire Index estimating Bankman-Frieds net worth at $0.
Read Also: Crypto's White Knight Needs A White Knight: Could The FTX/CZ Drama Be Sam Bankman-Fried's Fall From Grace?
Musks banker in the deal, Michael Grimes, told Musk in a text that Bankman-Fried could help integrate blockchain into Twitter. Musk, who had expressed interest in that idea, replied that it is not possible. In another text, Musk asks Grimes to follow up with Orlando Bravo to see why Bravo declined to invest with Musk in Twitter.
FTX officially filed for bankruptcy on Friday. According to reports, Musk warned Twitter employees that the company could face bankruptcy as well. On June 30, when Twitter was still a public company and open financial statements, it had more than $2 billion in cash equivalents and was burning about $200 million a year.
Read Also:Elon Musk Warns Twitter Staff That Bankruptcy Is Not Out Of The Question
Photo: Pixabay;SBF, Wikimedia;Knight, Rick Partington by Shutterstock