- After meeting Sam Bankman-Fried, Elon Musk declared that his “bullshitmeter was redlining”.
- His comments were made during a Twitter Space discussion attended by 60,000 people on Saturday morning.
- Musk stated that he felt “something was wrong” during the discussion.
Elon Musk continues to pile on the pressure after the downfall Sam Bankman-Fried, The founder of FTX, claiming his “bullshit meter was redlining” in a previous meeting with the disgraced crypto leader to discuss a potential Twitter investment.
Musk’s comments came around 2:30 a.m. ET Saturday, during a Twitter Space conversation that gathered 60,000 listeners. Coinbase reported. Shortly after Friday evening’s announcement that FTX was investigating “abnormal Transactions” in an alleged hack, the discussion started. A very poor week for the imploding Crypto Exchange.
Coinbase reported that the new Twitter CEO said “To be truthful, I’d never heard about him.” “But then, I got a lot of people telling me that he has huge amounts of money and wants to invest in the deal with Twitter. I spoke with him for approximately half an hour. My bullshit meter was redlining. It was like, ‘This dude is bullshit’ — that was my impression.”
Friday was Friday when FTX declared it was Chapter 11 bankruptcy filingAfter failing to secure urgent funding. After failing to secure emergency funding, Bankman-Fried was forced to resign as CEO and lost 94%. He also admitted that he had “fucked up twice” via a Twitter apology. He said that FTX’s decline was due to high customer withdrawals, and his incorrect estimation of the company’s debt.
Saturday The Financial Times reportedFTX had just $900million in assets and $9 billion in liabilities when it announced its bankruptcy filings.
It’s not known when the meeting between Bankman Fried & Musk took places. However, it seems that it was during Musk’s early plans for a Twitter-takeover and long before FTX’s collapse. Musk still felt that there was “something wrong” during the discussion.
“Man, everyone including major investment banks — everyone was talking about him like he’s walking on water and has a zillion dollars. And that was not my impression … that dude is just — there’s something wrong, and he does not have capital, and he will not come through. Musk stated, “That was my prediction.”
Musk tweeted Saturday morning, “FTX meltdown/ransack being followed in real-time via Twitter” and posted a crude meme from Bankman-Fried.
—Elon Musk (@elonmusk) November 12, 2022
These comments are coming as other crypto- and tech leaders speak about their recent interactions with Bankman Fried, including Brian Armstrong (CEO of Coinbase), who said to CNBC earlier this month that the To raise emergency funds, FTX founder reached to himThe struggling company.
Armstrong explained, “I was basically reading it. It felt like a pretty terrible situation that we wanted out of.”
