Elon Musk rejects FTX CEO’s $15B offer for Twitter

There are reports that FTX founder Sam Bankman-Fried is trying to invest as much as $15 billion in Elon Musk’s acquisition of Twitter.

In a series of text messages made public during the Twitter lawsuit, it was revealed that representatives of cryptocurrency billionaire Will MacAskill had texted Musk that SBF was “interested in buying it and then making it better for the world.”

Musk responded to a text asking if SBF had a lot of money, while MacAskill claimed the crypto billionaire was worth $24 billion and was willing to invest between $8 and $15 billion in the deal.

SBF wants to integrate blockchain technology into Twitter

There are other interactions between Musk and SBF, and it seems that the FTX founders want to integrate blockchain technology into the social media platform. But the world’s richest man doesn’t seem interested in the laborious idea he speaks of.

However, several executives in the cryptocurrency and finance space seem to be intrigued by the idea. But Musk doesn’t seem to share their interest in the idea.

He reportedly told Morgan Stanley banker Michael Grimes, “Blockchain Twitter is impossible because peer-to-peer networks cannot support bandwidth and latency requirements unless those ‘peers’ are absolutely huge, thus defying a decentralized networked network”.

At the same time, many believe that Musk’s acquisition of Twitter could lead to more cryptocurrency consolidation.Some people especially look forward to this

After announcing the acquisition on Friday, Oct. 28, Musk has announced some of his plans for the social media platform, including the creation of a content review board.

While Musk rejected the idea of ​​a blockchain social media platform, several crypto-focused entities invested in the acquisition. Binance announced a $500 million investment in the acquisition.

Twitter embraces cryptocurrency

There are reports that Twitter is making several pro-crypto moves recently. The social media platform has partnered with four leading NFT marketplaces to test the Tweet Tiles widget. These platforms include Solana-centric Magic Eden, Ethereum-based Rarible, Flow blockchain creator Dapper Labs and sports platform Jump.trade.

Source of information: Compiled from WATCHER by 0x Information.The copyright belongs to the author Uno, and may not be reproduced without permission

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