Elon Musk criticizes SBF, emphasizes the importance of cold wallet

Tesla CEO Elon Musk reportedly stated that he discussed the Twitter deal in depth with Sam Bankman-Fried (SBF), before the transaction was finalized. In addition to that, the business magnate and investor also offered some future projections.

Recently, Musk participated in a conversation taking place on Twitter with more than 60,000 listeners to discuss the FTX failure and bankruptcy.

Musk heavily criticizes SBF

Musk disclosed that he had a conversation with the exchange’s former CEO, Sam Bankman-Fried, and that his opinion of Bankman-Fried was not particularly favorable. Musk also stated that “[…] I got a tonne of people telling he’s got huge amounts of money that he wants to invest in the Twitter deal and I talked to him for about half an hour and I know my bullshit meter was redlining. It was like, this dude is bullshit – that was my impression.” The richest man in the world responded by saying that he was unfamiliar with him and added:

“[…] 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. That was my prediction.”

In a later statement, Musk again emphasized the significance of putting money into a cold storage account. In addition, he stated that “there probably is a future for Bitcoin, Ethereum, and DOGE.”

“But if you’ve got one of those three in a cold wallet and off an exchange.”

As Sam Bankman-Fried’s FTX is failing, many influencers are criticizing him. Other than the Dogecoin lover, Jesse Powell, co-founder and former CEO of crypto exchange Kraken also vented his anger in a long twitter thread, emphasizing his past actions which led SBF to his current situation.