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Elon Musk: FTX's Meltdown Is Better on Twitter Than Old-School Media

Crypto Saving Expert· 2 min read

By John P. Njui

Twitter’s new owner and CEO, Elon Musk, has been following the FTX-Sam Bankman-Fried saga on his recently acquired social media platform, as shared and analysed by the crypto community.

According to his observation, ‘the coverage of [the] FTX meltdown is incomparably faster *and* better quality on Twitter than old-school media.’ Mr Musk added that the memes created and shared due to the FTX collapse were ‘sickkk.’

Source: @elonmusk on Twitter

Sam Bankman-Fried was Ineffective Altruism — Elon Musk

In a follow-up Tweet, he thought there was a misunderstanding in describing Sam Bankman-Fried as an effective altruist. Mr Musk jokingly stated that what people meant was that Sam Bankman-Fried ‘is ineffective altruism.’

Source: @elonmusk on Twitter

I Expect to Find Someone Else to Run Twitter — Elon Musk

His social media jab at the founder and former CEO of FTX comes less than a week after he tweeted that Sam Bankman-Fried set off his ‘BS detector’ when he proposed a $3 billion Twitter investment in April this year. Mr Musk added that he did not believe Sam was as financially liquid as he claimed to be.

The Tesla CEO has notably been spending much of his time running Twitter and posting tweets. His presence on Twitter has caused some anxiety on Wall Street that he might be neglecting his other CEO role at Tesla as the electric vehicle manufacturer ramps up production amidst rising competition.

Mr Musk had, in the early days of taking control at Twitter, also onboarded several Tesla engineers to review the social media platform’s code and see where it could be improved.

But it seems Elon Musk plans to eventually hand over the CEO role at Twitter to someone else in the near future.

According to a Wall Street Journal report, Mr Musk said on Wednesday, during court proceedings in Delaware, that he expected to reduce his time at Twitter and ‘find somebody else to run [it] over time.’

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