Elon Musk says that a blockchain Twitter is not possible when FTX CEO Sam Bankman was prepared to take part in the acquisition.
According to a Business Insider, Sam Bankman-Fried, the CEO of FTX crypto exchange, was interested in taking part in the acquisition of Twitter along with Elon Musk, and he offered Tesla founder to transit the social network on blockchain rails.
In response to this suggestion, Musk argued that Twitter cannot be implemented on a blockchain because the peer-to-peer network could not meet the bandwidth and latency requirements.
Musk explained that the solution might work if these peer-to-peer networks were so enormous that decentralization was impossible.
The correspondence’s disclosure also showed that Bankman-Fried was prepared to contribute about $5 billion to the transaction, with the total estimated value of Twitter acquisitions being between $44 billion and $50 billion.
Speaking with Musk about the FTX CEO’s role in the Twitter acquisition, the spokesperson also emphasized his dedication to founder Tesla’s humanitarian ideals and the fact that SBF, or Sam Bankman-Fried, is a significant supporter of the American Democratic Party.
One of the most talked-about developments of 2022 was Elon Musk’s potential acquisition of Twitter.
The eccentric billionaire had plans to acquire the well-known social network in order to uphold free speech, according to his stated objectives.