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Elon Musk Blasts Legacy Media’s ‘Gingerly’ SBF Coverage

While busy managing Twitter, Elon Musk has still been keeping up with the drama surrounding FTX and its former CEO, Sam Bankman-Fried (SBF).

The billionaire has written numerous tweets this week signaling his distaste for SBF and media outlets covering him uncritically. 

  • Musk began by ripping into the Wall Street Journal on Monday. The outlet published an opinion piece claiming that FTX ultimately failed “because Sam Bankman-Fried’s supporters lost confidence in him.”
  • “Yeah umm … that is definitely not the reason it failed,” replied Musk. He later criticized the publication for giving “foot massages to a criminal” in another article about SBF’s so-called “mission to save the world.”
  • FTX filed for bankruptcy on November 11th after the exchange proved incapable of satisfying customer withdrawal requests. Bankman-Fried admitted to facing an $8 billion shortfall on customer deposits. 
  • Other exchange CEOs, including Coinbase chief Brian Armstrong, said it was likely that SBF re-hypothecated customer assets without their permission. On-chain data suggests the exchange’s Bitcoin and Ethereum balances are now near zero. 
  • Elon Musk later bashed Semafor, a global news platform, for publishing a story claiming FTX owned shares on Twitter. Musk said this was “flat wrong,” and that Semafor no longer “cared about the truth.” He called Business Insider “not a real publication” for sharing the same story.
  • Sam Bankman-Fried happens to have invested in Semafor, which Musk considered a major conflict of interest.
  • “The very real concern here is that you have been pushing a completely false SBF ownership of Twitter narrative while effectively being his paid shill,” Musk told the news outlet.

  • By Wednesday, Musk had taken his criticism to the New York Times. The publication pushed an article praising SBF’s philanthropic donations while failing to mention his bankruptcy and potential exchange fraud. 
  • In response, Musk said SBF’s overall “gingerly” coverage has been “one the biggest failures in US journalistic integrity of the 21st century.”
  • SBF announced on Wednesday that he would speak on a panel with the New York Times on November 30th. Twitter’s crypto community has been indignant over the news, demanding that he be put in prison instead.
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