Twitter CEO Elon Musk is atmosphere the file directly on FTX’s disgraced founder Sam Bankman-Fried and his alleged possession of Twitter stocks.
In a sequence of tweets Wednesday afternoon, Musk known as out a “fake news” document that alleged Bankman-Fried rolled his $100 million holdings of Twitter, when it used to be public, into non-public stocks.
Musk discredited a document, written by way of Semafor’s Liz Hoffman, alleging Bankman-Fried “owns a sizable chunk of a now privately held and debt-laden Twitter.” Hoffman cited a “FTX balance sheet prepared after the takeover closed on Oct. 28 and circulated to investors earlier this month.”
“SBF/FTX do not own shares in Twitter,” Musk mentioned in a tweet, responding to the document.
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He added: “There was a time when you cared about the truth. That is long gone.”
In some other tweet, Musk known as the declare “flat wrong” and mentioned there used to be “no grey area” in whether or not FTX or Bankman-Fried owned any stocks in his corporate.
Musk endured to debunk the claims as they circulated extra on Twitter.
Semafor’s Editor-in-chief Ben Smith defended his outlet’s reporting and produced the alleged non-public change between Musk and Bankman-Fried, the place Musk turns out to inspire the FTX founder to roll his stocks.
Musk replied by way of as soon as once more denying the rollover ever came about.
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“All public holders of Twitter were allowed to roll their stock into Twitter as a private company, but he did not do so,” he wrote. “Your reporting made it falsely sound like he did, when in fact he owns 0%”
An “added context” flag used to be therefore added to Smith’s tweet.
Earlier within the day, Musk discredited a equivalent declare revealed by way of Business Insider.
“Sam Bankman-Fried reportedly owns a $100 million stake in Elon Musk’s Twitter,” a information headline from the opening learn.
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To which Musk responded: “[Business Insider] is not a real publication.”
FTX collapsed ultimate week after Bankman-Fried scrambled to lift emergency finances after FTX got here below regulatory oversight. The corporate failed to offer protection to its shoppers and buyers, who jointly face billions of greenbacks in losses.