Alleged Connection with Sam Bankman-Fried angered Elon Musk!

Twitter’s new owner Elon Musk, bankrupt cryptocurrency exchange rejected a report that Sam Bankman-Fried, founder of FTX, put $100 million into Musk’s takeover of Twitter.

Elon Musk Denies FTX CEO Sam Bankman-Fried’s Claim That He Owns $100 Million Shares on Twitter

Responding to Business Insider’s headline claiming that SBF owns a $100 million stake in Twitter, which was recently transferred to Musk, Musk simply tweeted, “False.”

Business Insider’s news was a summary of a news report from Semafor, a news site that recently launched, that Musk invited SBF to “transfer” his existing Twitter shares to the soon-to-be-privatized company under Musk’s ownership.

False. Also, Business is still not a real publication. Just give up.

— Elon Musk (@elonmusk) November 23, 2022

While SBF has not invested any cash in the deal despite expressing its willingness to contribute up to $10 billion through a representative, it was pre-existing Twitter shares that were invested in the Musk-run company, Semafor reported, citing unpublished text messages.

Musk’s denial so far is vague and only in response to a headline that SBF “has $100 million in stock.” He has yet to specify which part of the news he called “wrong” and whether FTX’s founder was involved in the deal.

In the FTX balance sheet, which was leaked earlier this month, $43 million of Twitter stock is listed as one of the company’s illiquid assets.

However, Musk also claimed that the Semaphore news site in question belongs to SBF.

*Not investment advice.