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On Friday, October 28, the world’s richest man Elon Musk efficiently completed his deal to purchase Twitter. Loads has been taking place in the area since with Musk announcing some content material moderation plans and rather more.

As per the newest particulars. Sam Bankman-Fried, chief of crypto change FTX had proven some early curiosity in investing in Twitter when Musk was buying an enormous stake round March this yr. As per a collection of Musk’s personal texts made public throughout Twitter’s lawsuit, the FTX chief had proven curiosity in implementing blockchain know-how on Twitter.

Will MacAskill, a high advisor to Bankman-Fried, texted Musk on behalf of SBF. On March 29, he messaged Musk writing:

“I’m not sure if this is what’s on your mind, but my collaborator Sam Bankman-Fried has for a while been potentially interested in purchasing it and then making it better for the world.”

Interestingly, Musk responded again asking whether or not SBF had “huge amounts of money?” MacAskill responded by saying that SBF was price a staggering $24 billion at the moment and was keen to make investments wherever between $8 billion to $15 billion.

Musk and SBF’s Exchange of Texts Over Twitter

In April, Musk exchanged just a few textual content messages with FTX chief Sam Bankman-Fried. Some of the highest executives from the crypto and the banking area obtained in contact with Musk explaining if he can get on widespread floor with SBF who had a grand imaginative and prescient on blockchain and social media integration.

But Musk turned down the concept saying that he wasn’t in a “laborious blockchain debate” with SBF. Speaking to Morgan Stanley banker Michael Grimes, Musk explained:

“Blockchain Twitter isn’t possible, as the bandwidth and latency requirements cannot be supported by a peer-to-peer network, unless those ‘peers’ are absolutely gigantic, thus defeating the purpose of a decentralized network”.

Many leaders have proven curiosity in constructing social media platforms on a blockchain platform. These leaders imagine that blockchain would assist democratize consumer knowledge. However, not sufficient work has occurred in this course to date.

Bhushan is a FinTech fanatic and holds aptitude in understanding monetary markets. His curiosity in economics and finance draw his consideration in direction of the brand new rising Blockchain Technology and Cryptocurrency markets. He is repeatedly in a studying course of and retains himself motivated by sharing his acquired data. In free time he reads thriller fictions novels and typically discover his culinary abilities.

The offered content material could embrace the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty to your private monetary loss.