Musk said in a text exchange Musk encouraged the FTX founder to roll over his shares, but no such action took place
Twitter CEO Elon Musk is setting the record straight on disgraced FTX founder Sam Bankman-Fried and his alleged ownership of Twitter shares.
In a series of tweets Wednesday afternoon, Musk cited a news report that reportedly rolled out his $100 million stake of Twitter when Bankman-Fried went public in private shares.
Musk dismissed a report written by Liz Hoffman of Semaphore, which alleged that Bankman-Fried is “now a huge part of privately held and debt-laden Twitter.” Hoffman cited “the FTX balance sheet prepared after the acquisition closed on October 28 and circulated to investors earlier this month.”
Musk responded to the report in a tweet saying, “SBF/FTX does not own shares in Twitter.”
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He said: “There was a time when you cared about the truth. That is long gone.”
In another tweet, Musk called the claim “flat false” and said there was “no gray area” in whether FTX or Bankman-Fried owned any shares in his company.
Musk continued to dismiss the claims as they circulated more on Twitter.
Semaphore editor-in-chief Ben Smith defended his outlet’s reporting and produced an alleged private exchange between Musk and Bankman-Fried, where Musk encourages the FTX founder to roll over his shares.
Musk responded by once again refusing the rollover.
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“All public holders of Twitter were allowed to roll over their stock into Twitter as a private company, but they didn’t,” he wrote. “Your reporting falsely described it as he did, when in fact he owned 0%”
An “additional context” flag was later added to Smith’s tweet.
Earlier in the day, Musk dismissed a similar claim published by Business Insider.
“Sam Bankman-Fried reportedly owns $100 million stake in Elon Musk’s Twitter,” read a news headline from the outlet.
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To which Musk replied: “[Business Insider] Not a genuine publication.”
FTX collapsed last week after Bankman-Fried scrambled to raise emergency funds after FTX came under regulatory oversight. The company failed to protect its customers and investors, who collectively face billions of dollars in losses.
Credit: www.foxbusiness.com /