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FTX Chief Wanted Blockchain Tech on Twitter, Musk Refused

The world's richest man, Elon Musk, completed the acquisition of Twitter on Friday, October 28. Since Musk announced his ambitions for content control, a lot has happened in the space. As per the most recent information. When Musk was buying a significant position in Twitter around March of this year, Sam Bankman-Fried, the CEO of the cryptocurrency exchange FTX, had some early interest in investing. According to a number of Musk's private texts that were made available as part of Twitter's legal battle, the CEO of FTX had expressed interest in integrating blockchain technology on Twitter.

30-Oct-2022 By: Ashish Sarswat
FTX Chief Wanted Blo

Sam Bankman Fried, the CEO of FTX, was eager to spend over $10 billion in Twitter with the intention of bringing blockchain to the social media network.

The world's richest man, Elon Musk, completed the acquisition of Twitter on Friday, October 28. Since Musk announced his ambitions for content control, a lot has happened in the space. As per the most recent information. When Musk was buying a significant position in Twitter around March of this year, Sam Bankman-Fried, the CEO of the cryptocurrency exchange FTX, had some early interest in investing. According to a number of Musk's private texts that were made available as part of Twitter's legal battle, the CEO of FTX had expressed interest in integrating blockchain technology on Twitter.

Top Bankman-Fried advisor Will MacAskill texted Musk on behalf of SBF. I'm not sure if this is what's on your mind, but my collaborator Sam Bankman-Fried has been potentially interested in buying it and then improving it for the world for a while, he said in a message to Musk on March 29.

Strangely, in his reply, Musk questioned whether SBF had "vast sums of money." In response, MacAskill stated that SBF was then worth an astounding $24 billion and was prepared to invest somewhere between $8 billion and $15 billion.

Text Messages between Musk and SBF Shared on Twitter

Sam Bankman-Fried, the CEO of FTX, and Musk had a brief text conversation in April. Top bankers and cryptocurrency executives contacted Musk to ask whether he could find common ground with SBF, an organisation that had a lofty ambition for integrating social media and blockchain technology.

Musk, however, rejected the proposal and stated that he was not interested in engaging in a "laborious blockchain discussion" with SBF. Speaking to Michael Grimes, a banker at Morgan Stanley, Musk said: Blockchain Twitter isn't practical because the bandwidth and latency needs cannot be maintained by a peer-to-peer network, unless those "peers" are really massive, which would negate the point of a decentralised network.

Building social media platforms on top of blockchain technologies has attracted the interest of numerous leaders. These decision-makers think blockchain will promote data democratisation. But thus far, not enough has been done in this direction.

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