Certainly, the tensions around the FTX affair seem to be easing. Still, the crypto company is still at the center of many discussions. Crypto investors are indeed not the only ones to assert themselves on the fall of the empire of Sam Bankman-Fried. The great figures of the modern world are also getting involved. We are more specifically referring to Elon Musk, who posted a damning tweet about the fallen billionaire.
Fall of FTX: result of mismanagement
The CEO of SpaceX, new CEO of Twitter and CEO of Tesla is in no way tender in his assertions. According to Elon Musk, indeed, Sam Bankman-Fried could have avoided the collapse of FTX if he had managed the platform effectively.
An assertion supported by information made public recently. We refer in particular to the huge real estate purchases made by the parents of Sam Bankman-Fried during the last two years. The Reuters newspaper reports an acquisition of around $300 million in the Bahamas.
Elon Musk is not the first to point the finger at FTX’s mismanagement. The current CEO of the crypto platform also joins him on this point. In the District of Delaware Bankruptcy Court, he expressed his concerns bluntly, shocked by his own findings: “I have over 40 years of experience in legal and restructuring. (…) Never, in my career, have I seen such a complete failure at the level of the company’s internal control procedures and such a total absence of reliable financial information (…) This situation is unprecedented. »
Elon Musk makes another accusation against SBF
The phrase “bribing the media” is a bit strong, but it raises a number of questions at the level of the crypto community. However, it is believed to be a response to recent rumors circulating on social networks that Sam Bankman-Fried has invested $100 million in the takeover of Twitter. A rumor which the CEO of Twitter obviously denied.
This isn’t the first time Elon Musk has given his thoughts on FTX’s current situation.. He spoke in particular about the 600 million dollars stolen from the crypto exchange platform after a hack. Despite his low opinion of SBF, the Tesla CEO remains confident about the future of crypto.
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My name is Ariela and I am 31 years old. I have been working in the field of web writing for 7 years now. I only discovered trading and cryptocurrency a few years ago. But it is a universe that interests me a lot. And the topics covered within the platform allow me to learn more. Singer in my spare time, I also cultivate a great passion for music and reading (and animals)!