Reason Why Sam Bankman Fried Passed Funding Twitter Acquisition

The FTX boss took to he’s twitter page to explain why he did pass on the Elon Musk twitter acquisition seen he’s counterpart CZ of Binance jumping into the band wagon of this purchase. In he’s words he said that;

source

“We passed on Twitter because it didn’t seem like our strengths were what was needed for Elon’s vision for Twitter (e.g. if he wanted to do blockchain-based social media, or blockchain wallets/payments, we’d have been excited to work on that! And who knows, maybe he still will).”

Which for a financial stand it’s really a good idea from what he said, if they are not ready financially or it’s not inclined to their goal and aspirations there really no need of venturing into it. He went on further in explaining in he’s next twitter thread which he said he really believes in the Elon musk vision for the web2 social platform twitter;

“I’m really excited for what he’s doing. I think it’s going to hopefully revitalize Twitter. There’s a lot of open questions and a lot of tough questions that I think have to be answered. I think there is a ton of upside in what he’s doing…

He’s got a vision for what he wants to do with Twitter, and I think his vision is not exactly the same vision as mine would be, but that’s okay. It doesn’t have to be. And ultimately I view this as ‘Is this a case where our visions are complementary and that there’s really something I can add to it?’

I don’t think that ended up being the case, and so it ended up an opportunity where I didn’t feel like it made sense for us to get involved.”

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