According to Bankman-Fried or SBF, their strength was unnecessary in Musk’s vision for Twitter.
SBF, the CEO of the FTX exchange, explained why he did not join Elon Musk in his acquisition of Twitter. Bankman-Fried made these remarks in response to a question from Forbes Chief Content Officer Randall Lane at the Forbes Iconoclast Summit 2022.
Among the many reasons given by SBF for declining to join Musk in the acquisition, the first was that their strength was not required by Musk’s vision for Twitter.
Furthermore, SBF explains that Musk’s and Bankman-visions Fried’s did not complement each other. However, Bankman-Fried explicitly states that this was not the reason he was unable to close the deal with Musk.
In addition, SBF stated that the lack of a logical argument in support of the acquisition was what kept them from committing.
More specifically, Bankman-Fried stated, “I didn’t feel like it made sense for us to be involved [in the deal].”
Surprisingly, one Twitter user, a private NFT collector, responded to Bankman-Fried, claiming that Twitter rejected his Fried’s rather than the other way around.
FTX CEO believes that Musk’s acquisition will revitalize Twitter. Furthermore, he claims that there will be numerous questions that must be answered.
SBF, on the other hand, stated that if Musk wanted to create blockchain-based social media or blockchain wallets/payments, they would have been thrilled to work on it.
Bankman-Fried concludes with an optimistic statement, “And who knows, maybe he still will,” referring to Musk’s preference for blockchain-based social media and wallets.