The crypto billionaire was interested in purchasing Twitter and utilizing blockchain technology on the social media network. The saga is detailed in a series of private texts sent by Musk that were made public as part of Twitter's lawsuit against the SpaceX founder after he backed out of a US$44 billion deal to buy Twitter.

In March, as Musk began buying Twitter shares and tweeting about his dissatisfaction with the social media platform's censorship policies, Will MacAskill, a top advisor to SBF, texted him about SBF's interest in Twitter.

Musk responded to the text message by asking if SBF had "huge sums of money?" SBF, according to MacAskill, was worth around US$24 billion at the time and would be willing to provide financing ranging from US$8 billion to US$15 billion.

Forbes named Bankman-Fried one of the wealthiest people under 30 in history last year. Now 30, the businessman has been on a crypto buying spree, recently closing an agreement with the bankrupt lender Voyager. In an April interview with Bloomberg, the self-described "effective altruist" discussed using blockchain to establish a free-speech model on Twitter.

Throughout April, Bankman-Fried and Musk interchanged several messages. Bankman-Fried published a post about how blockchain and Twitter could work together in one. Michael Kives, the founder and CEO of K5 Global, texted Musk on April 14 and said, "It could be cool to do this with Sam Bankman-Fried." Jared Birchall, his partner and top advisor, also sent Musk a Bloomberg article about Bankman-Fried and his perspective on blockchain and social network integration.

He was later linked to Morgan Stanley banker Michael Grimes in April, who stated that Bankman-Fried would be willing to "shake hands" on up to $5 billion. "I believe you will like him," Grimes texted Musk. "Ultra genius and doer builder like your formula. After studying MIT physics, I designed FTX from the ground up. Second only to Bloomberg in donations to the Biden campaign."

On the other hand, Musk became dissatisfied with the idea, saying he didn't want to "have a laborious blockchain debate" with Bankman-Fried."Blockchain Twitter is not possible because a peer-to-peer network can't help with bandwidth and latency specs unless such 'peers' are extremely massive, defeating a decentralized network's goal."

The last SMS revealed in the case exhibits between Musk and Bankman-Fried was delivered on May 5, when Musk reacted to Bankman-Fried, saying: "Sorry, who is sending this message? ”

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Sep 30, 2022
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